大新金融(00440) - 2024 - 年度业绩

Financial Performance - Net interest income for the year ended December 31, 2024, increased by 9.1% to HK$5,400,675,000 compared to HK$4,950,897,000 in 2023[4] - Service fee and commission income rose by 54.0% to HK$1,311,006,000 from HK$851,249,000 year-on-year[4] - Total operating income increased by 15.5% to HK$7,211,133,000, up from HK$6,243,413,000 in the previous year[4] - Profit before tax for the year was HK$2,546,899,000, reflecting an 8.1% increase from HK$2,355,769,000 in the prior year[4] - The annual profit attributable to shareholders was HK$1,673,119,000, a 5.1% increase from HK$1,592,095,000 in 2023[4] - Basic earnings per share rose to HK$5.25 from HK$4.99, while diluted earnings per share increased to HK$4.36 from HK$4.11[4] - The operating profit before credit impairment losses for 2024 was HKD 3,767,754, up from HKD 2,993,448 in 2023, reflecting a growth of approximately 25.8%[19] - The annual profit for 2024 was HKD 2,201,181, a rise from HKD 2,068,886 in 2023, which is an increase of approximately 6.4%[19] - The pre-tax profit for 2024 was HKD 2,546,899, up from HKD 2,355,769 in 2023, indicating a growth of about 8.1%[22] - The company’s net profit attributable to shareholders increased by 5% to HKD 1.673 billion in 2024, driven by higher net interest and non-interest income[58] Credit and Impairment - The company reported a credit impairment loss of HK$1,790,240,000, a significant increase of 144.7% compared to HK$731,509,000 in 2023[4] - Credit impairment losses for 2024 amounted to HKD 1,790,240, compared to HKD 731,509 in 2023, showing an increase of about 144.5%[19] - The credit impairment loans and advances represent 3.21% of total customer loans and advances, an increase from 1.94% in 2023[41] - The total impairment provisions for loans and advances increased to HKD 1,532,345,000 in 2024 from HKD 1,113,256,000 in 2023[41] - The company maintains a cautious approach to credit risk management, particularly in light of weak loan growth and high credit risk in the banking sector[62] Assets and Liabilities - Total assets as of December 31, 2024, were HK$266,523,315,000, a slight decrease from HK$269,788,561,000 in 2023[6] - Total liabilities decreased to HK$223,325,171,000 from HK$228,789,977,000 year-on-year[6] - Total assets as of December 31, 2024, amounted to HK$266,523,315, a slight decrease from HK$269,788,561 in 2023, reflecting a decline of approximately 1%[22] - The net amount of loans and advances after impairment provisions is HKD 136,841,940,000, down from HKD 141,936,220,000 in 2023[41] - The total amount of financial assets measured at fair value through profit or loss is HKD 1,999,039,000, an increase of 18.9% from HKD 1,680,710,000 in 2023[36] Dividends and Shareholder Returns - The company declared an interim dividend of HK$292,942,000, significantly higher than HK$114,659,000 in the previous year[4] - The board proposed a final dividend of HKD 1.18 per share for the fiscal year 2024, subject to shareholder approval[54] - The company announced a final dividend of HKD 1.18 per share, totaling HKD 668.761 million for the year, a 5% increase from HKD 2.00 in 2023[57] Operational Segments and Strategy - The group’s operational segments include personal banking, corporate banking, treasury and global markets, mainland China and Macau banking, insurance and investment, and other operations[18] - The company continues to focus on expanding its services in Hong Kong, Macau, and mainland China, with over 90% of external customer revenue generated from these regions[21] - The company continues to support local SMEs through new measures and has established a "three regions, four platforms" strategy to enhance cross-border financial services[61] Income Sources - The company reported a significant increase in non-interest income, which reached HKD 1,810,458 in 2024, up from HKD 1,292,516 in 2023, marking a growth of about 40.0%[19] - Net interest income rose by 9%, reflecting the impact of higher interest rates and effective management of funding costs, while net interest margin expanded by 16 basis points to 2.17%[58] - Total premium income increased to HKD 1,245,969 thousand in 2024, up from HKD 1,061,373 thousand in 2023, representing a growth of approximately 17.3%[50] - Net premium income rose to HKD 626,789 thousand in 2024, compared to HKD 553,329 thousand in 2023, reflecting an increase of about 13.3%[50] Market Conditions and Economic Outlook - The economic growth in Hong Kong for 2024 is projected at 2.5%, down from 3.2% in 2023, influenced by high interest rates and weak local demand[58] Regulatory and Reporting Standards - The group has adopted new and revised standards effective from January 1, 2024, which are not expected to have a significant impact on the consolidated financial statements[9] - The group is currently evaluating the specific impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements, which will enhance comparability and provide more relevant information[13][14] Miscellaneous - The company held no trade bills overdue for more than three months as of December 31, 2024, and 2023[43] - The 2024 annual report will be published on the Hong Kong Stock Exchange and Dah Sing Bank's website by the end of April 2025[67] - The board of directors includes key executives such as the Chairman, Vice Chairman, and Group General Manager[68] - The company secretary is Li Zongrong, with the announcement dated March 31, 2025[69]