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 4.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Banks industry in Hong Kong.

Performance of the Hong Kong Banks industry.

The company's shares are up 2.3% from a week ago.

Risk Analysis

Be aware that Hang Seng Bank is showing 1 warning sign in our investment analysis that you should know about...

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