大新银行集团(02356) - 2023 - 中期业绩

Financial Performance - The unaudited profit attributable to shareholders for the six months ended June 30, 2023, is HK$1,111,923,000, representing a 1.1% increase from HK$1,099,336,000 in 2022[4] - Net interest income for the period is HK$2,269,045,000, up 12.3% from HK$2,020,290,000 in the previous year[4] - The operating profit before impairment losses decreased by 6.3% to HK$1,158,085,000 compared to HK$1,236,057,000 in the prior year[4] - The total comprehensive income for the period is HK$1,076,603,000, a significant increase from HK$133,410,000 in the previous year[7] - The group reported a pre-tax profit of HKD 1,211,901 for the first half of 2023[43] - Operating profit after deducting impairment losses increased by 8% to HKD 1.01 billion, compared to a 19% decline in the same period last year[67] Income and Expenses - Net service fee and commission income decreased by 21.6% to HK$377,674,000 from HK$481,602,000 in 2022[4] - Operating expenses increased to HKD 1,533,321 thousand in 2023 from HKD 1,390,536 thousand in 2022, indicating a rise of approximately 10%[17] - The group’s depreciation and amortization expenses for the period were HKD 170,845[43] - Operating income for the first half of 2023 was HKD 2,691,406[43] Credit and Impairment - Credit impairment losses improved significantly, decreasing by 48.6% to HK$156,893,000 from HK$305,055,000 in 2022[4] - Credit impairment losses for the six months ended June 30, 2023, were HKD 196,687 thousand, a decrease from HKD 335,151 thousand in 2022, showing a reduction of about 41%[18] - The group recorded a 49% decrease in credit impairment losses due to prudent credit risk management and an improved economic environment[66] Assets and Liabilities - Total assets as of June 30, 2023, are HK$251,006,794,000, slightly down from HK$252,086,033,000 at the end of 2022[8] - Total liabilities were HKD 220,130,674 as of June 30, 2023[43] - The total equity attributable to shareholders was HKD 30,564,704 thousand as of June 30, 2023, up from HKD 29,913,732 thousand as of December 31, 2022, reflecting a growth of approximately 2.2%[36] Customer Deposits and Loans - Customer deposits increased to HK$202,459,966,000 from HK$199,792,201,000, reflecting a growth in deposits[8] - Total customer loans and advances as of June 30, 2023, amounted to HKD 139,419,039, an increase from HKD 136,530,235 as of December 31, 2022, representing a growth of 2.1%[28] - The percentage of credit-impaired loans to total customer loans was 1.85% as of June 30, 2023, slightly down from 1.86% in the previous year[29] Dividends - The company declared an interim dividend of HK$154,633,000, compared to HK$140,575,000 in the previous year[4] - The group declared an interim dividend of HKD 0.11 per share, payable on September 21, 2023[63] Market Outlook - The group anticipates a GDP growth forecast of 4%-5% for Hong Kong in 2023, with inflation expected to remain moderate at around 1.9%[68] - Loan demand is expected to remain subdued due to the high interest rate environment, impacting investment sentiment and loan demand[68] Capital and Ratios - The capital adequacy ratio for the group was 19.7%, compared to 19.3% as of December 31, 2022[60] - The liquidity maintenance ratio increased to 62.5% as of June 30, 2023, up from 45.3% a year earlier[62] - The cost-to-income ratio rose to 57.0% for the six months ended June 30, 2023, from 52.9% a year earlier[63] Other Notable Points - The bank's employee compensation and benefits expenses rose to HKD 1,043,038 thousand in 2023, up from HKD 1,020,179 thousand in 2022, reflecting a slight increase[17] - The bank's share of results from associates, particularly Chongqing Bank, remains pending as the financial results for the six months ended June 30, 2023, have not yet been published[19] - The board of directors includes executive directors Wang Shouye (Chairman), Huang Hanxing (Vice Chairman, Managing Director, and CEO), Wang Boling, and Mai Xiaode (Deputy CEO) as well as independent non-executive directors Shi Xitao, Chen Shengli, Pei Bulei, and Tan Weihong[74]