东亚银行(00023) - 2019 - 中期财报

Financial Performance - Operating profit before impairment losses for the half year ended 30 June 2019 was HK$ 5,184 million, an increase of 19.4% from HK$ 4,340 million in the same period of 2018[4] - Profit attributable to owners of the parent decreased to HK$ 1,000 million for the half year ended 30 June 2019, down 74.9% from HK$ 3,992 million in the same period of 2018[4] - Basic earnings per share for the period was HK$ 0.22, a decrease of 83.1% compared to HK$ 1.30 for the same period last year[9] - Total comprehensive income for the period was HK$ 2,443 million, a decrease of 24.3% compared to HK$ 3,227 million in the same period last year[10] - The operating profit after impairment losses was HK$ 121 million, a decrease from HK$ 4,057 million in the previous year, indicating a decline of 97%[97] - The profit before taxation for the six months ended June 30, 2019, was HK$ 636 million, down from HK$ 4,781 million in 2018, representing a decrease of 86.7%[99] Assets and Liabilities - Total assets reached HK$ 876,778 million, representing a growth of 6.0% from HK$ 826,834 million in the previous year[5] - Total liabilities increased to HK$ 771,790 million, up from HK$ 735,876 million, reflecting a growth of 4.9%[11] - Total customer deposits and certificates of deposit issued rose to HK$ 646,008 million, an increase of 4.3% from HK$ 619,497 million in the same period of 2018[5] - Total assets increased to HK$ 876,778 million as of June 30, 2019, up from HK$ 839,451 million at December 31, 2018, representing a growth of 4.4%[11] - Total liabilities were HK$ 771,790 million, up from HK$ 735,876 million in 2018, which is an increase of 4.9%[99] Loans and Advances - Total loans and advances to customers and trade bills increased to HK$ 524,107 million, up 3.1% from HK$ 507,531 million as of 30 June 2018[5] - Loans and advances to customers rose to HK$ 506,099 million, an increase of 1.6% from HK$ 498,284 million[11] - The total gross carrying amount of loans and advances to customers at amortised cost is HK$ 511,281 million, with a principal amount of HK$ 473,718 million classified as "Pass" loans[147] - The total gross carrying amount of loans and advances to customers at amortised cost increased from HK$ 500,631 million as of 31 December 2018 to HK$ 511,281 million as of 30 June 2019[147] - The total advances to customers reached HK$ 511,281 million, with impaired advances accounting for 1.63% of the total[72] Impairment and Credit Risk - The impaired loan ratio increased to 1.6% from 0.9% in the previous year, indicating a rise in credit risk[5] - Impairment losses on financial instruments totaled HK$ 5,063 million, significantly higher than HK$ 282 million in the previous year, indicating a substantial increase in credit risk[54] - The total impairment allowances for credit-impaired loans increased to HK$ 3,946 million as of June 30, 2019[147] - The balance of lifetime ECL credit-impaired for loans and advances to customers was HK$ 4,154 million as of June 30, 2019, significantly higher than HK$ 1,252 million at December 31, 2018[185] Income and Expenses - Net interest income for the half year was HK$ 7,406 million, up 18.4% from HK$ 6,250 million in the same period of 2018[8] - Total operating expenses increased to HK$ 4,918 million for the six months ended June 30, 2019, compared to HK$ 4,186 million for the same period in 2018, representing a 17.5% increase[52] - Total fee and commission income decreased slightly to HK$ 1,895 million for the six months ended June 30, 2019, compared to HK$ 1,935 million in 2018[48] - The Group's interest expense rose to HK$ 7,150 million for the six months ended June 30, 2019, from HK$ 5,933 million in 2018[45] Cash Flow and Dividends - Net cash generated from operating activities for the six months ended June 30, 2019, was HK$7,308 million, a significant recovery from a net cash outflow of HK$11,466 million in the same period of 2018[14] - The interim dividend declared was HK$0.11 per share on 2,897 million shares, totaling HK$319 million, a decrease from HK$0.51 per share on 2,808 million shares, totaling HK$1,432 million in 2018[19] - The proposed dividends not provided for decreased significantly from HK$1,906 million as of December 31, 2018, to HK$319 million as of June 30, 2019[107] Financial Instruments and Fair Value - The total fair value of financial instruments measured at fair value was HK$ 160,190 million, compared to HK$ 151,166 million as of December 31, 2018, representing an increase of approximately 6.73%[127] - The Group's Level 1 financial assets amounted to HK$ 32,124 million as of June 30, 2019, up from HK$ 25,967 million at the end of 2018, indicating a growth of about 23.5%[127] - The fair value of derivatives decreased to HK$ 6.141 billion as of June 30, 2019, down from HK$ 10.211 billion at the end of 2018[199] Other Key Metrics - The bank's cash and balances with banks and other financial institutions rose to HK$ 52,823 million, an increase of 5.6% from HK$ 48,106 million[11] - The total customer liabilities under acceptances increased to HK$ 25,257 million as of June 30, 2019, from HK$ 21,747 million at the end of 2018[83] - The total gross carrying amount of debt investment securities at amortized cost was HK$ 19,165 million, with HK$ 19,089 million as the carrying amount after impairment allowances[171]