The Zhitong Finance App learned that the Bank of East Asia (00023) was higher at the beginning of the session, up about 5%. In '22, the company's operating income increased 10.26% year on year, and profit returned to the mother decreased 17.29% year on year. After the annual results were disclosed, Jefferies raised the company's target price to HK$12 to maintain “buying”. As of press release, the Bank of East Asia rose 5.56% to HK$10.64, with a turnover of HK$10 million.

On February 16, the Bank of East Asia announced its annual results. In 2022, the company achieved operating revenue of HK$17.954 billion, an increase of 10.26% over the previous year; profit attributable to shareholders was HK$4,359 million, a decrease of 17.29% over the previous year. The annual dividend was HK$0.81, an increase of 15.7% over the previous year. Among these, interest income was HK$24.848 billion, an increase of 37.62% over the previous year; net income from service fees and commissions decreased by 10.3% to HK$2,753 million. According to the Bank of East Asia, net commission income from investment product sales and securities brokerage decreased during the period. However, the increase in income from banks and insurance offset some of the decline, and it has become a source of revenue with strong growth.