Huishang Bank Corp Ltd (03698.HK) saw its stock price surge by 5.30% in pre-market trading on Friday, following the release of impressive financial results for the fiscal year.
The bank reported a net profit attributable of RMB15,414 million, showcasing strong performance in a challenging economic environment. Net interest income reached RMB28,591 million, with a net interest margin (NIM) of 1.71%. In a move that's likely to please investors, Huishang Bank recommended a cash dividend of RMB0.21 per share.
The bank's financial health indicators also remained robust. As of the fiscal year-end, Huishang Bank's core Tier 1 capital adequacy ratio stood at 9.83%, indicating a strong capital position. Additionally, the non-performing loan (NPL) ratio was reported at 0.99%, reflecting the bank's effective risk management practices. These solid results appear to have boosted investor confidence, driving the significant pre-market stock price increase.
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