大新银行集团(02356) - 2023 - 中期财报

Financial Performance - Net interest income for the six months ended June 30, 2023, was HK$2,269,045, representing a 12.3% increase from HK$2,020,290 in 2022[4] - Total operating income increased by 2.5% to HK$2,691,406 compared to HK$2,626,593 in the previous year[4] - Profit for the period attributable to shareholders was HK$1,111,923, a slight increase of 1.1% from HK$1,099,336 in 2022[4] - Basic earnings per share rose to HK$0.79, up from HK$0.78 in the same period last year[4] - Total comprehensive income for the period, net of tax, was HK$1,076,603, compared to HK$133,410 in 2022[7] - Operating expenses increased by 10.3% to HK$1,533,321 from HK$1,390,536 in 2022[4] - The net fee and commission income decreased by 21.6% to HK$377,674 from HK$481,602 in the previous year[4] - The company reported a net loss on disposal of other fixed assets of HK$1,309, compared to a loss of HK$426 in 2022[4] Asset and Liability Management - Total assets as of June 30, 2023, amounted to HKD 251,006,794, a decrease of 0.43% from HKD 252,086,033 as of December 31, 2022[9] - Customer deposits increased to HKD 202,459,966, up 0.84% from HKD 199,792,201 in the previous period[9] - The bank's total liabilities decreased to HKD 220,130,674, down 0.78% from HKD 221,860,885[9] - The bank's cash and balances with banks decreased to HKD 16,286,219 from HKD 17,800,880, reflecting a decline of 8.51%[9] - The financial assets at amortised cost rose to HKD 35,309,015, an increase of 7.88% from HKD 32,926,090[9] - Derivative financial instruments increased to HKD 4,290,911, up 10% from HKD 3,901,236[9] - The bank's share capital remained stable at HKD 6,894,438, unchanged from the previous period[11] Credit Quality and Impairment - Credit impairment losses decreased significantly by 48.6% to HK$156,893 from HK$305,055 in the prior year[4] - Total impairment allowances decreased to HK$1,073,008 as of June 30, 2023, from HK$1,636,402 as of December 31, 2022, a reduction of 34.4%[62] - Credit-impaired loans and advances amounted to HK$2,581,753, with Stage 3 impairment allowances at HK$477,320 as of June 30, 2023[62] - The percentage of credit-impaired loans and advances as a percentage of total loans and advances to customers was 1.85% as of June 30, 2023, slightly down from 1.86% as of December 31, 2022[62] Cash Flow and Investment Activities - Cash flows from operating activities for the six months ended June 30, 2023, amounted to HK$965,062,000, a significant decrease from HK$4,561,461,000 in the same period of 2022[16] - Net cash used in investing activities was HK$(40,075,000) for the first half of 2023, compared to HK$(219,664,000) in the prior year, indicating a reduction in investment outflows[16] - Net cash used in financing activities increased to HK$(645,339,000) in 2023 from HK$(512,973,000) in 2022, reflecting higher financing costs[16] Regulatory and Compliance - The financial statements were prepared in accordance with Hong Kong Accounting Standard No. 34, with no significant changes in accounting policies from the previous year[20] - Current income tax for Hong Kong profits was HK$92,018,000 for the first half of 2023, down from HK$112,885,000 in 2022[41] - The Group's capital adequacy calculation does not include retained earnings from the investment in Bank of Chongqing, except for cash dividends received[39] Risk Management - The Group recognizes various risks including credit, market, interest rate, liquidity, operational, reputation, and strategic risks, and manages them through a well-developed management structure[188] - The Group's risk management and compliance committee oversees the management of various risks, guided by the Group Risk Division and functional committees[193] - The Group has established a Group Credit Committee for approving major credit limits, with the Credit Management Committee and Treasury and Investment Risk Committee responsible for policy recommendations and risk control[193] Market and Strategic Position - The company did not report any new significant products or technologies during the period[18] - There were no major market expansions or acquisitions disclosed in the interim report[18] - The Group's estimated assessable profit for the period was taxed at a rate of 16.5%, consistent with the previous year[40]