Daxin Finance (00440) announced its 2023 results. Net interest income was approximately HK$4.951 billion, an increase of 1 per cent over the previous year...
According to the Zhitong Finance App, Daxin Finance (00440) announced its 2023 results. Net interest income was approximately HK$4.951 billion, up 11.7% year on year; total operating revenue was HK$6.243 billion, down 10.6% year on year; profit attributable to company shareholders was HK$1,592 billion, up 30% year on year. Basic earnings per share are HK$4.99, and a proposed final dividend of HK$1.64 per share.
The announcement said that due to a rebound in interest rates during the year, Dah Sing Bank's net interest spread widened, leading to a 12% increase in net interest income compared to 2022. Net interest spreads increased by 16 basis points due to rising market interest rates and the Group's efforts to control capital costs during the year. Despite relatively weak demand for loans in the Group's core market, loan balances for most businesses recorded a slight increase, while the Group's overall loan balance increased by 5%.