东亚银行(00023) - 2024 - 年度业绩

Financial Performance - The Bank of East Asia reported a net profit of HKD 4,629 million for the year ended December 31, 2024, an increase of 11.9% compared to HKD 4,136 million in 2023[4]. - Basic and diluted earnings per share rose to HKD 1.52, compared to HKD 1.32 in 2023, marking a growth of 15.2%[4]. - The total comprehensive income for the year was HKD 4,553 million, compared to HKD 4,296 million in 2023, an increase of 6.0%[6]. - The company reported a profit of HKD 4,608 million for the year ended December 31, 2024, compared to HKD 4,118 million in 2023, representing a year-over-year increase of 11.9%[10]. - Operating profit before tax for the year was HKD 5,840 million, an increase from HKD 5,310 million in 2023, reflecting a growth of 9.9%[12]. Income and Expenses - Net interest income decreased slightly to HKD 16,529 million in 2024 from HKD 16,874 million in 2023, reflecting a decrease of 2.0%[3]. - Non-interest income increased to HKD 4,450 million, up 15.0% from HKD 3,872 million in the previous year[3]. - Operating expenses totaled HKD 9,634 million in 2024, up from HKD 9,432 million in 2023, with employee costs rising to HKD 5,616 million from HKD 5,445 million[36]. - The company reported a total tax expense of HKD 1,211 million for 2024, compared to HKD 1,174 million in 2023, with current tax in Hong Kong increasing to HKD 647 million from HKD 419 million[41]. Assets and Liabilities - Total assets increased to HKD 877,759 million, up from HKD 860,361 million in 2023, representing a growth of 2.3%[8]. - Total liabilities increased to HKD 772,020 million in 2024, compared to HKD 740,000 million in 2023[70]. - The company’s total equity increased to HKD 105,739 million as of December 31, 2024, from HKD 106,346 million at the beginning of the year[10]. Customer Loans and Deposits - Customer loans and advances remained stable at HKD 527,829 million, slightly up from HKD 526,984 million in 2023[8]. - Customer deposits increased to HKD 643,093 million, compared to HKD 628,598 million in the previous year, reflecting a growth of 2.3%[8]. - Total customer loans and advances amounted to HKD 532,931 million in 2024, a slight increase from HKD 532,111 million in 2023[44]. Dividends and Share Repurchases - The bank declared a dividend of HKD 0.69 per share, up from HKD 0.54 per share in 2023, indicating a 27.8% increase[4]. - The total dividend declared for the year was HKD 1,815 million, up from HKD 1,434 million in 2023[21]. - The company repurchased approximately 35 million shares at a total cost of HKD 3.43 billion, compared to HKD 3.67 billion for about 36 million shares in 2023[11]. Risk Management - The company is closely monitoring macroeconomic conditions and asset portfolios to manage risks, particularly in light of potential geopolitical tensions and regional conflicts affecting global trade and economic performance[182]. - The company has implemented measures to mitigate credit risk, including enhanced credit controls for high-risk industries and stress testing for capital adequacy and loan loss provisions[182]. - The group actively manages various types of risks, including credit, interest rate, market, liquidity, operational, reputation, strategic, legal, compliance, and technology risks[175]. Strategic Initiatives - The OneBank strategy aims to provide seamless cross-border banking experiences, leveraging the integration of Hong Kong into the Greater Bay Area[104]. - The company aims to diversify its customer base and actively seek new cross-border business growth opportunities, particularly in Beijing, Shanghai, and the Greater Bay Area[126]. - The newly launched digital trading platform, East Asia Investment Connect, received positive feedback from customers, facilitating easier trading of Hong Kong, US, and mainland A-shares[133]. Sustainability and Corporate Governance - The bank aims to achieve net-zero operational emissions by 2030 and net-zero financing emissions by 2050, with specific reduction targets set for high carbon-emitting industries[150]. - The group is committed to sustainable development, considering environmental and social factors in financing and investment decisions[162]. - The company is focusing on environmental, social, and governance (ESG) risks by adopting new climate risk assessment mechanisms and conducting regular climate risk stress tests[183].