Hang Seng Bank (0011) reported today profit year for the year ended December 31, 2018 increased by 21 percent on year to HK$24.2 billion from HK$20.01 billion the year before.
The return on average ordinary shareholders’ equity was 16 percent from 14.2 percent in 2017.
Earnings per share improved by 21 percent to HK$12.48 per share, compared with HK$10.30 per share in 2017.
The bank declared a fourth interim dividend of HK$3.60 per share. The total dividends for 2018 is HK$7.50 per share for 2018, compared with HK$6.70 per share in 2017.
Louisa Cheang, Hang Seng Bank vice-chairman and chief executive, said all business lines achieved increases in revenue and profitability.
"Enhanced data analytics gave us greater insight into the priorities and aspirations of our more than 3.5 million customers in Hong Kong.''
Operating profit was up by 19 percent at HK$27.94 billion. Operating profit excluding change in expected credit losses and other credit impairment charges grew by 18 percent to HK$28.94 billion.
Profit before tax grew by 20 percent to HK$28.43 billion.
