大新银行集团(02356) - 2021 - 年度财报

Financial Performance - Shareholders' funds increased to HK$29,913 million in 2021, up from HK$28,441 million in 2020, representing a growth of 5.2%[28] - Profit attributable to shareholders was HK$1,658 million in 2021, a 10.8% increase from HK$1,493 million in 2020[28] - Basic earnings per share rose to HK$1.18 in 2021, compared to HK$1.06 in 2020, marking a growth of 11.3%[28] - Total dividend distribution for 2021 was HK$478 million, an increase from HK$422 million in 2020[28] - Dah Sing Banking Group reported a significant increase in net profit, reaching HKD 1.2 billion, representing a 15% year-over-year growth[52] - Profit attributable to shareholders increased by 30.7% to HK$1,716.8 million in 2021, up from HK$1,313.8 million in 2020[128] - Return on shareholders' funds improved from 5.4% in 2020 to 5.7% in 2021[142] Asset and Deposit Growth - Total deposits reached HK$202,725 million in 2021, a rise of 2.3% from HK$198,466 million in 2020[28] - Total assets reached HK$248,979 million in 2021, slightly up from HK$247,306 million in 2020[28] - The total assets of Dah Sing Bank increased to HKD 200 billion, up 10% compared to the previous year[52] - Customer deposits grew by 12% to HKD 150 billion, indicating strong customer confidence and market position[52] - Advances to customers (excluding trade bills) grew to HK$144,313 million in 2021, reflecting an increase of 4.0% compared to HK$137,577 million in 2020[28] - Advances to customers rose by 4.9% to HK$144,313 million, while customers' deposits increased by 3.0% to HK$196,135 million[128] Loan and Credit Quality - The loan to deposit ratio improved to 73.6% in 2021, up from 69.3% in 2020, indicating a stronger lending position[28] - Overall loan growth was 5%, with modest growth in both commercial and retail banking businesses[101] - Credit impairment charges fell by 42%, indicating notable improvement in credit quality[103] - Loan impairment charges decreased due to lower non-performing loans from SME customers and recoveries from corporate bad debts, with overall asset quality remaining manageable[184] - The bank's non-performing loan ratio remains low at 0.5%, reflecting effective risk management practices[52] Digital Banking and Technology - The bank's strategic focus includes expanding its digital banking services, as evidenced by the launch of the Dah Sing Mobile Banking App in 2014[16] - Dah Sing Bank plans to enhance its digital banking services, investing HKD 100 million in technology upgrades over the next two years[52] - Active mobile banking users increased by 40%, and mobile payment transactions rose by 38% by the end of 2021[161] - DSB opened its first flagship digital branch in March 2021, aimed at enhancing customer experience through technology[166] - The number of active users across all digital banking platforms rose by 12%, with digital payment transactions surging by 55%[161] Governance and Management - The company has a strong board with members holding significant experience in finance and banking, enhancing governance and oversight[68] - The Audit Committee is chaired by Mr. Sze, ensuring rigorous financial oversight and compliance[56] - The company is focused on maintaining a robust risk management framework, with dedicated committees in place[62] - The Independent Non-Executive Directors play a crucial role in guiding the company's strategic direction and ensuring accountability[70] Market and Economic Context - Hong Kong's economy grew by 6.4% in 2021, recovering from contractions of 6.5% and 1.7% in 2020 and 2019 respectively[130] - Macau's economy, heavily reliant on gaming and tourism, saw a significant decline in visitor numbers, down 80% from pre-pandemic levels, impacting overall economic recovery[196] - Visitor arrivals in Macau for the full year 2021 were still 80% lower than pre-COVID levels in 2019, despite being somewhat higher than in 2020[198] - Gross Gaming Revenues for the full year 2021 were only 30% of the levels seen in 2019, significantly below the government's original projections for 2021[198]