Dah Sing Banking first half profit grows 12 percent

Dah Sing Banking (2356) posted a 12.8 percent rise in first-half net profit to HK$1.78 billion and declared an interim dividend of 35 HK cents.

Net interest income grew 7 percent to HK$2.97 billion in the period. Net interest margin climbed by 12 basis points to 2.44 percent, helped by strong local loan demand and expansion of its customer loan book.

Net fee and commission income jumped by 29.2 percent to HK$939.2 million, supported by policy measures and cross-border wealth inflows.

Dah Sing Financial (0440), meanwhile, also recorded a 3.7 percent rise in profit to HK$1.5 billion. Interim dividend for the period was HK$1.2.

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