Hang Seng profits up 58% to $2.28b in 2023; Dividend is HK$6.5 per share

A fourth interim dividend is HK$3.2 per share.

Hang Seng Bank saw its profit attributable to shareholders surge 58% to $2.28b (HK$17.84b) in 2023, compared to the $1.44b (HK$11.28b) it reported for 2022.

Earnings per share also rose 62% to HK$8.97 per share, versus HK$5.53 per share in 2022.

A fourth interim dividend of approximately $0.41 (HK$3.2) per share was announced, with total dividends of $0.83 (HK$6.5) per share for 2023. In contrast, total dividends were $0.52 (HK$4.1) per share in 2022. 

Chief executive and executive director Diana Cesar said that they have re-focused the business and diversified their income streams in 2023.

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“The results are encouraging and a testament to the success of our strategy and approach. Whatever the pace of  economic recovery, we are well-positioned to sustain our performance,” Cesar said, adding that Hang Seng Bank will continue to support its customers, the Hong Kong community and the Greater Bay Area.” 

Net interest income is up 26% to HK$32.29b, with net interest margin widening by 55 basis points to 2.3% versus 1.75% in 2022.

Net operating income before change in expected credit lossoes and other credit impairment charges are up 19% to HK$40.82b.