The stock of Bank of East Asia (00023) surged 5.17% on Thursday in an intraday trading session, propelled by the Bank's robust financial performance and a generous dividend declaration.
In its full-year 2024 results, Bank of East Asia reported a healthy profit attributable of HK$4,608 million and a net interest income of HK$16,529 million. The Bank's financial strength was further underscored by a solid Common Equity Tier 1 Capital Ratio of 17.7% as of December 31, 2024.
Additionally, the Bank announced a second interim dividend of HK$0.38 per share for the year 2024, rewarding shareholders and reflecting its confidence in future growth prospects. This dividend payout, coupled with the Bank's strong financial metrics, fueled investor confidence and drove the significant stock price increase.
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