东亚银行(00023) - 2024 - 年度财报

Financial Performance - Profit attributable to owners of the parent increased by 11.9% to HK$4.608 billion in 2024, up from HK$4.118 billion in 2023[20]. - Basic earnings per share rose by 15.2% to HK$1.52, compared to HK$1.32 in the previous year[20]. - The bank's net profit increased by 11.9%, reaching HK$4,118 million for the year[39]. - Basic earnings per share for 2024 were HK$1.52, up from HK$1.32 in the previous year[71]. - The Group reported a profit attributable to shareholders of HK$4.608 billion in 2024, an increase of 11.9% from HK$4.118 billion in 2023[71]. Asset and Deposit Growth - Total consolidated assets reached HK$877.8 billion (US$113.0 billion) as of December 31, 2024, representing a 2.0% increase from HK$860.4 billion in 2023[10]. - Total customers' deposits and certificates of deposit issued increased by 1.3% to HK$664.7 billion from HK$656.2 billion[20]. - Total customers' deposits and certificates of deposit issued were HK$664,671 million, showing a recovery from HK$656,216 million in 2023[32]. - Total deposits from customers rose by 2.3% to HK$643.093 billion, with savings deposits increasing by 14.2%[78]. Loan and Credit Metrics - Total loans and advances to customers and trade bills amounted to HK$534.4 billion, a 0.4% increase from HK$532.5 billion in 2023[20]. - The impaired loan ratio rose to 2.72% from 2.69% in 2023[20]. - The loan-to-deposit ratio was maintained at 80%[32]. - The loan-to-deposit ratio stood at 80.2% at the end of December 2024, down from 81.1% at the end of 2023[79]. Operational Efficiency - The cost-to-income ratio slightly increased to 45.9% from 45.5% in 2023[20]. - Operating expenses increased by HK$202 million, or 2.1%, to HK$9.634 billion, with a cost-to-income ratio of 45.9%[76]. - The cost-to-income ratio improved due to strict cost discipline and productivity gains from ongoing digital transformation initiatives[145]. Digital Banking and Innovation - The bank's digital banking platforms, including the revamped BEA Mobile app, saw significant customer adoption, with expectations for digital revenue growth to outpace other channels[48]. - The revamped BEA Mobile app saw a positive user response, driving higher revenue and facilitating 84% of retail transactions through unmanned channels[112]. - The newly launched digital trading platform, BEA SmarTrade, provides a one-stop solution for trading Hong Kong, US, and Chinese Mainland A shares[140]. - The fintech collaboration platform, BEAST, has enabled the bank to develop AI-driven analytics and operations, enhancing risk and compliance management[50]. Strategic Initiatives - The OneBank strategy aims to enhance cross-boundary banking experiences, leading to a marked increase in new-to-bank accounts and assets under management[44][45]. - The OneBank initiative will continue to be a key focus, aiming to strengthen collaboration across business units and explore cross-border business opportunities[168][176]. - The bank is leveraging its unique OneBank platform to facilitate cross-boundary flows of people, payments, and commerce while continuing to digitalize operations[56]. Market and Economic Context - The Chinese Mainland economy achieved a growth target of 5.0% in 2024, slightly down from 5.2% in 2023[93]. - Hong Kong's economy grew by 2.5% in 2024, supported by a rebound in merchandise exports despite weak private consumption[94]. - The global economy is forecasted to grow by 3.3% in 2025, with risks from trade protectionism and geopolitical tensions[95]. Employee Development and Culture - The bank's workforce as of December 31, 2024, totaled 7,880 employees, down from 8,140 a year earlier, indicating ongoing adjustments in organizational structure[180][188]. - The employee survey response rate for 2024 reached 99%, with 91% of employees expressing enthusiasm and pride in working for the bank[190]. - The bank is committed to upskilling employees, with over 300 GBA specialists trained in 2024, enhancing capabilities in technology and data analytics[185][186]. Risk Management and Compliance - The bank's risk management framework emphasizes a sound risk culture, ensuring all employees are responsible for risk management[195]. - The Group aims to maintain a robust capital adequacy position to support business growth, adhering to regulatory and internal capital ratios[198]. - The Group is committed to having sufficient funds to meet all obligations during crisis scenarios, ensuring business continuity[199].