Hang Seng Bank (HKG:11) Full Year 2024 Results
Key Financial Results
- Revenue: HK$36.8b (up 6.3% from FY 2023).
- Net income: HK$17.7b (up 3.2% from FY 2023).
- Profit margin: 48% (down from 50% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: HK$9.33 (up from HK$8.97 in FY 2023).
11 Banking Performance Indicators
- Net interest margin (NIM): 2.20% (down from 2.30% in FY 2023).
- Cost-to-income ratio: 36.6% (up from 35.8% in FY 2023).
- Non-performing loans: 6.12% (up from 2.83% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hang Seng Bank Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%.
Looking ahead, revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Banks industry in Hong Kong.
Performance of the Hong Kong Banks industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 1 warning sign for Hang Seng Bank that you need to be mindful of.
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