Financial Data and Key Metrics Changes - Attributable profit for the year reached HKD 40.1 billion, up 4.9% year-on-year, with ROE remaining stable at 11.5% [2][73] - Full year DPS is HKD 2.125, representing a 6.8% increase year-on-year [3][73] - Profit after tax increased by 5.3% year-on-year to HKD 41.2 billion [11] Business Line Data and Key Metrics Changes - BOC Life grew its standard new premiums by 50%, while BOCI-Prudential increased its MPF assets by over 20% [4][75] - BOCHK Asset Management expanded its AUM by about 40%, maintaining a leading position in their respective markets [4][75] - The bank maintained leadership in new residential mortgage loans for seven consecutive years, with a market share of 32.1% [57] Market Data and Key Metrics Changes - Deposits and loans in Southeast Asia grew by 20.2% and 9.6% respectively, both exceeding the corresponding growth rates of the group [6][78] - The number of cross-border high-end customers grew by 21%, driving steady growth in cross-border income [5][76] - The impaired loan ratio was 1.14%, up nine basis points from the previous year, outperforming the Hong Kong market average of 2.01% [33] Company Strategy and Development Direction - The company aims to enhance its role as a regional management center and drive the development of integrated businesses [21][22] - Focus on high-quality growth and enhancing technological capabilities in alignment with the national strategy [19][21] - Plans to strengthen wealth management brand reputation and consolidate RMB business advantages [21][22] Management's Comments on Operating Environment and Future Outlook - The global geopolitical landscape adds complexity and uncertainty to the economic environment, potentially increasing volatility in trade and financial markets [19][21] - The company remains confident in achieving further growth while adhering to national development strategies [21][22] - Expectations for steady growth in loans and deposits, supported by positive macroeconomic policies [55][56] Other Important Information - The company has established an AI committee to enhance operational efficiency and risk management through AI applications [9][62] - ESG bonds underwritten grew by 34%, and greenhouse gas emissions per employee fell by 22% [10] - The company completed the acquisition of BOCI Private Bank in early 2026 [17] Q&A Session All Questions and Answers Question: Capital management framework and loan impairment outlook - The company has a stable dividend policy and aims to balance shareholder interests with long-term growth, with a dividend payout ratio of 56% for 2025 [28][30] - The impaired loan ratio is expected to remain manageable, with adequate provisions in place despite pressures in the property market [33][34] Question: NIM outlook and fee income sustainability - The company anticipates that NIM will be influenced by U.S. dollar interest rates and HIBOR trends, with a small negative gap for U.S. dollar loans [42][47] - Fee and commission income is expected to grow, driven by wealth management and cross-border business opportunities [43][45] Question: Deposit growth targets and cost management - The company aims to maintain a market-leading CASA ratio and steady deposit growth, leveraging diversified products and services [59][60] - Operating expenses are expected to increase steadily, with a long-term target for the cost-to-income ratio remaining within 35% [61]

Financial Data and Key Metrics Changes - Attributable profit for the year reached HKD 40.1 billion, up 4.9% year on year, with ROE remaining stable at 11.5% [2][65] - Full year DPS increased by 6.8% year on year to HKD 2.125 [3][65] - Profit after tax increased by 5.3% year on year to HKD 41.2 billion [11] Business Line Data and Key Metrics Changes - BOC Life grew its standard new premiums by 50%, while BOCI-Prudential increased its MPF assets by over 20% [4][67] - BOCHK Asset Management expanded AUM by about 40%, maintaining a leading position in their respective markets [4][67] - The bank maintained leadership in new residential mortgage loans for 7 consecutive years, with a market share of 32.1% [3][49] Market Data and Key Metrics Changes - Deposits and loans in Southeast Asia grew by 20.2% and 9.6% respectively, both exceeding the corresponding growth rates of the group [5][69] - The number of cross-border high-end customers grew by 21%, driving steady growth in cross-border income [4][68] - The impaired loan ratio was 1.14%, up nine basis points from the previous year, outperforming the Hong Kong market average of 2.01% [15][29] Company Strategy and Development Direction - The company aims to enhance its role as a regional management center and business center, focusing on integrated business development and cross-border financial services [19][20] - The bank will continue to strengthen its wealth management brand reputation and consolidate its RMB business advantages [19][20] - The company is committed to sustainable development, with green and sustainability-related loans increasing by 7.2 times over the past five years [10] Management's Comments on Operating Environment and Future Outlook - The management highlighted the complexity and uncertainty in the international economic environment, with a focus on high-quality growth and technological capabilities [18][19] - The bank expects to capture new growth opportunities arising from the rapid development of AI and digital assets [19] - The outlook for 2026 includes a focus on enhancing intelligent operations and comprehensive risk management capabilities [20] Other Important Information - The bank's total capital ratio and CET1 ratio rose to 25.98% and 24.01% respectively, driven by earnings growth and a reduction in RWA [16] - The company completed the acquisition of BOCI Private Bank in early 2026 [16] Q&A Session All Questions and Answers Question: What is the target ratio for capital management? - The bank has a stable dividend policy and aims to balance shareholder interests with long-term growth, with a payout range of 40%-60% for 2026 [25][27] Question: What is the outlook for loan impairments, particularly for property developers? - The impaired loan ratio was 1.14%, and while there is pressure, the bank expects to maintain a better-than-market-average level [29][31] Question: What is the outlook for NIMs and fee income in 2026? - The bank anticipates some pressure on NIMs due to changes in interest rates, but expects further growth in net fee and commission income driven by wealth management and cross-border business [35][39] Question: What are the contributions to CASA growth and trends for 2026? - CASA deposits increased by 24.3%, and the bank aims to maintain a market-leading CASA ratio with steady deposit growth [51][62]

截至2025年末，普通股权一级资本较上年末增长10.9%，主要由2025年盈利带动。总资本较2024年末增 长9.2%。风险加权资产较2024年末下降7.5%，主要由于《巴塞尔协定三》最终改革方案于2025年1月1 日正式生效实施后，信贷风险和操作风险的风险加权资产下降。普通股权一级资本比率和一级资本比率 均为24.01%，总资本比率为25.98%。集团动态管控资本资源配置，努力提升资本回报，在满足监管要 求的基础下，确保业务可持续发展及努力实现股东回报的长期稳定增长。 截至2025年末，集团资产总额达港币44898.09亿元，较上年末增长港币2954.01亿元或7.0%。库存现金 及在银行及其他金融机构之结余及定期存放下降港币425.17亿元或7.0%，主要由于在中央银行之定期存 放减少。证券投资及其他债务工具上升港币2756.91亿元或18.9%，主要由于集团增持政府及金融机构债 券。贷款及其他账项上升港币388.70亿元或2.3%，其中客户贷款上升港币389.01亿元或2.3%。 中银香港(02388)发布2025年度业绩，提取减值准备前的净经营收入为港币770.19亿元，按年上升港币 57.66亿元或 ...

BOC Hong Kong Holdings Limited (2388.HK) reported that its fiscal 2025 profit attributable to equity holders was HK$40.1 billion compared to HK$38.2 billion, prior year. Earnings per share was HK$3.7947 compared to HK$3.6162. For the year ended 31 December 2025, net interest income was HK$52.9 billion compared to HK$52.3 billion, previous year. Net fee and commission income increased to HK$11.3 billion from HK$9.9 billion. Net operating income before impairment allowances was HK$77.0 billion compared to HK ...

2025 Annual Results March 30, 2026 Disclaimer This presentation and subsequent discussions may contain forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as believe, expect, anticipate, estimate, plan, project, target, may or will, or may be expressed as being the results of actions that may or are expected to occur in the future. You should not place undue reliance on these forward-looking statements, whic ...

股份代號：2388（港幣櫃台）及 82388（人民幣櫃台） 可持續發展報告 2025年 中銀香港（控股）有限公司 • 2025年可持續發展報告 | 目錄 | 引言 | 2025年 | 可持續 | 促進綠色 | 創建美好 | 夯實高效 | 附錄 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 表現摘要 | 發展方針 | 高質發展 | 互益社會 | 透明管治 | | 可持續發展報告 2025年 股份代號：2388（港幣櫃台）及 82388（人民幣櫃台） 今年的封面以「成果滿載」為主題，象 徵我們首個可持續發展五年規劃的階段 性成果正逐步顯現。設計以開闊的綠地 和蓬勃生長的大樹為視覺核心，寓意我 們在可持續發展領域已在穩固根基之上 實現蓬勃發展，為未來五年的可持續旅 程提供長遠支撐。前景中的家庭野餐與 豐富的果實，代表我們在與自然及人與 人間和諧共生的環境下，在可持續金 融、美好互益社會和高效透明管治等方 面收穫具體成果，彰顯我們的可持續發 展正由「扎根耕耘」邁向「攜手共享」。 背景中的天際線及中銀大廈延續企業在 區域可持續金融生態中的關鍵角色。整 ...

| 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 不適用 | 其他信息 | | 發行人董事 | | | 於本公告日期，董事會由葛海蛟先生*（董事長）、張輝先生*（副董事長）、孫煜先生（副董事長兼總裁）、蔡釗先生*、 | 鄭汝樺女士**、蔡冠深博士**、馮婉眉女士**、羅義坤先生**、李惠光教授**、廖長江先生**、聶世禾先生**及馬時亨教授**組 | | 成。 | | | * 非執行董事 | ** 獨立非執行董事 | 第 2 頁 共 2 頁 v 1.1.1 第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 中銀香港（控股）有限公司 | | 股份代號 | 02388 ...

Financial Performance - The net operating income before impairment provisions for 2025 was HKD 77,019 million, an increase of 8.9% from HKD 71,253 million in 2024[8]. - Operating profit for 2025 reached HKD 50,532 million, up from HKD 48,677 million in 2024, reflecting a growth of 3.5%[8]. - The annual profit attributable to shareholders for 2025 was HKD 40,121 million, compared to HKD 38,233 million in 2024, marking a 4.9% increase[10]. - The total assets as of year-end 2025 amounted to HKD 4,489,809 million, up from HKD 4,194,408 million in 2024, representing a growth of 7.1%[10]. - The cost-to-income ratio improved to 23.62% in 2025 from 24.55% in 2024, indicating enhanced operational efficiency[10]. - The loan-to-deposit ratio decreased to 58.35% in 2025 from 61.55% in 2024, suggesting a more conservative lending approach[10]. - The average return on total assets remained stable at 0.95% for both 2025 and 2024[10]. - The average return on equity for 2025 was 11.51%, slightly down from 11.61% in 2024[8]. - The company achieved a net profit of HKD 41.189 billion for the year, representing a year-on-year increase of 5.3%[18]. - Total assets reached HKD 4.49 trillion, growing by 7.0% compared to the end of the previous year[18]. Customer Deposits and Loans - Customer deposits and loans increased by 7.9% and 2.3% to HKD 2.94 trillion and HKD 1.72 trillion, respectively[18]. - Customer deposits grew by 7.9% to HKD 294.05 billion, while customer loans increased by 2.3% to HKD 171.58 billion[30]. - Customer loans reached HKD 1,715.79 billion as of December 31, 2025, an increase of HKD 38.90 billion or 2.3% from the previous year[82]. - Demand and current deposits rose by 26.7%, while savings deposits increased by 23.7%[88]. - Southeast Asia-related deposits and loans grew by 20.2% and 9.6% respectively year-on-year, excluding exchange rate changes[117]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 1.255 per share, leading to a total annual dividend of HKD 2.125 per share, an increase of 6.8% year-on-year[18]. - The basic earnings per share were HKD 3.7947, with a dividend per share of HKD 2.1250[49]. Market Position and Strategy - The company maintained its leading position in the new residential mortgage market for seven consecutive years and in the syndicated loan market for 21 years[19]. - The company plans to continue expanding its regional business in Southeast Asia, leveraging its extensive branch network[5]. - The company plans to continue leveraging its unique advantages to become a leader in the Hong Kong market and actively participate in the Greater Bay Area and Belt and Road initiatives[25]. - The company is focused on enhancing its governance and sustainability practices through the expertise of its independent directors[194][197][200]. Digital Transformation and Innovation - The company successfully verified a project under the Hong Kong Monetary Authority's GenAI sandbox, advancing its digital transformation efforts[20]. - The company established an AI committee to enhance AI application planning and implementation, participating in the Hong Kong Monetary Authority's GenA.I. sandbox program[33]. - The introduction of the "Agentic AI-driven intelligent frontline GPT assistant" has won a silver award at the 2025 Hong Kong ICT Awards, showcasing the company's commitment to enhancing customer experience through AI[121]. - The company launched a series of digital financial services targeting young clients, resulting in a nearly 90% increase in new accounts for young customers[96]. Risk Management - The company emphasizes a balanced approach to risk management, focusing on credit, market, liquidity, operational, and strategic risks[127]. - The group follows a robust liquidity risk management strategy to ensure stable and sufficient cash sources under normal and stressed conditions[134]. - The group has implemented a "three lines of defense" framework for operational risk management, involving self-assessment and monitoring by various departments[136]. Awards and Recognition - The company received multiple awards, including being named "Best Bank in Hong Kong" for three consecutive years by The Banker and "Most Resilient Bank in Hong Kong" for six consecutive years by The Asian Banker[30]. - The group has been recognized as the "Best Cash Management Bank in Hong Kong" by The Asian Banker for 11 consecutive years[103]. - The company has been recognized with multiple awards, including the "Best Custodian Bank in Hong Kong" and "Outstanding Custodian Bank" for its services[105]. Economic Outlook - The Hong Kong economy is projected to grow by 3.5% in 2025, with strong export performance and rising private consumption[55]. - The company expects stable economic growth in Hong Kong in 2026, supported by central government policies and various market diversification measures[124].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 股份代號：2388（港幣櫃台）及82388（人民幣櫃台） 2025年度業績公告 中銀香港（控股）有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附 屬公司截至2025年12月31日止年度的經審核業績。本公告列載本公司2025年報 全文，並符合香港聯合交易所有限公司證券上市規則內有關年度業績初步公告須 附載資料的要求。本公司2025年報的印刷版本將於2026年4月中下旬寄發予已選 擇收取印刷版本的本公司股東，並可於其時在香港交易及結算所有限公司的網 站 www.hkexnews.hk 及本公司的網站 www.bochk.com 閱覽。 1 財務摘要 | | 2025年 | 2024年 | | --- | --- | --- | | 全年 | 港幣百萬元 | 港幣百萬元 | | 提取減值準備前之淨經營收入 | 77,019 | 71,253 | | 經營溢利 | 50,532 | 48,677 ...

Investment Rating - The report does not explicitly state an overall investment rating for the financial industry but provides specific recommendations for various sectors and companies within the industry [4]. Core Insights - The financial industry experienced a decline this week, with the non-bank financial index down by 3.98%, underperforming the CSI 300 index by 2.57 percentage points. The banking sector, however, showed resilience with a decline of only 0.71%, outperforming the CSI 300 index by 0.7 percentage points [10][1]. - The insurance sector reported significant profit growth driven by investments, although Q4 results were impacted by stock market volatility. The long-term fundamentals of the insurance industry remain intact, suggesting potential for valuation and performance recovery [1][17]. - The brokerage sector saw a 3.61% decline, with 14 listed brokerages reporting a combined revenue of 271.68 billion yuan and a net profit of 109.02 billion yuan, reflecting year-on-year increases of 37.7% and 54.8%, respectively [2][18]. - The banking sector's performance showed marginal improvement, with 13 listed banks reporting revenue and net profit growth of 0.85% and 1.08%, respectively. The net interest income is expected to stabilize, contributing to a more favorable outlook for 2026 [3][21]. Summary by Sections Insurance Sector - The insurance sector index fell by 5.52%, underperforming the CSI 300 index by 4.11 percentage points. The annual reports of listed insurance companies showed significant profit growth driven by investments, with notable Q4 declines due to market fluctuations [1][14]. - The net profit growth for major insurers was led by China Taiping (+221%), followed by China Life (+44%) and New China Life (+38%). The new business value (NBV) also saw substantial increases across the board [14][17]. - Recommendations include China Ping An, China Taiping, and New China Life, with a focus on long-term value recovery in the sector [4][17]. Brokerage Sector - The brokerage sector index decreased by 3.61%, with a reported combined revenue of 271.68 billion yuan and a net profit of 109.02 billion yuan from 14 listed brokerages, indicating strong recovery driven by market conditions [2][18]. - The return on equity (ROE) for these brokerages improved by 1.56 percentage points to 7.5%. The report suggests that the brokerage sector is experiencing a significant recovery in profitability [18][19]. - Recommended stocks include Guotai Junan, Huatai Securities, and Xingye Securities, focusing on firms with strong fundamentals and potential for mergers and acquisitions [4][19]. Banking Sector - The banking sector index fell by 0.71%, with 13 listed banks reporting revenue and net profit growth of 0.85% and 1.08%, respectively. The net interest margin is expected to stabilize, contributing to a positive outlook for 2026 [3][21]. - The report highlights that the asset quality remains stable, with a slight decrease in the non-performing loan ratio to 1.21% and an average provision coverage ratio of 232% [22][24]. - Recommended banks include Hangzhou Bank and Bank of China (H), with a focus on banks with high dividend yields and strong earnings potential [4][24].