Hang Seng Bank’s profits up 1% to HK$11.3b in H1

Net interest income and net operating income both rose.

Hang Seng Bank’s profit attributable to shareholders inched up 1% to HK$9.89b in the first six months of 2024, its latest financial results showed.

Profit before tax is HK$11.3b in H1, 3% higher compared to H1 2023.

Net interest income rose 2% to HK$15.48m, with net interest margin widening 20 basis points to 2.29% in H1.

Net operating income rose 2%, whilst operating profit jumped 5% over the same period.

A second interim dividend of HK$1.2 per share has been announced. This brings the total dividend to HK$2.4 per share for H1 2024– 9% higher than in H1 2023.

Total capital returns to shareholders– including a HK$3b share buy-back– has risen 80%, to HK$7.6b, according to Hang Seng Bank. 

Hang Seng Bank’s CEO and executive director Diana Cesar expressed optimism for the future of Hong Kong.