Bank of China Hong Kong (2388) said its 2022 net profit rose 17.7 percent to HK$27.05 billion from a year earlier, in line with expectations, and raised the final dividend by a third to 91 Hong Kong cents per share.
When combined with the interim dividend, the total annual dividend amounts to HK$1,357, reflecting a year-on-year increase of 20.1 percent. The dividend payout ratio for the year stands at 53 percent.
In 2022, net interest income increased 21.5% year-on-year to HK$38.8 billion. If financing income or the cost of foreign currency swap contracts were factored in, net interest income would have risen further by 28.6 percent on-year to HK$42.4 billion. The increase was mainly driven by the expansion of average interest-bearing assets and an increase in net interest margin.
Net interest margin increased 19 basis points to 1.25 percent and adjusted NIM increased 27 basis points to 1.36 percent.
However, net fee and commission income for the same period was HK$9.5bn, down HK$2.4bn or 19.9% year-on-year amid confidence from the investors.
https://www.thestandard.com.hk/section-news/section/2/251218/BOCHK-pumps-up-PAYOUT-BY-20PC
Category: Hong Kong
