Hang Seng Bank annual net drops by 33pc to HK$16.6bBusiness | 23 Feb 2021 1:37 pm
Hang Seng Bank (0011) net profit for 2020 fell by 33 percent year-on-year to HK$16.69 billion.
The bank declared a dividend of HK$2.8 per share. The annual dividend fell by nearly 33 percent to HK$5.5.
Earnings per share dropped by 35 percent to HK$8.36 per share.
The net operating income was down by 20 percent to HK$33.33 billion.
Net interest income fell by 17 percent to HK$26.91 billion, due to narrow interest margin, dragged down by low global interest rates.
Net interest margin narrowed by 40 basis points to 1.59 percent.
Non-interest income fell by 19 percent to HK$9.16 billion.