"Performance" Dahsing Banking's half-year net profit is HKD 1.579 billion, an increase of 13.1%, with an interim dividend of HKD 0.31

DAHSING BANKING (02356.HK) announced its interim results for the six months ending June this year, with a revenue of HKD 3.8 billion, an increase of 15.5% year-on-year. Among them, net interest income rose 9.4% to HKD 2.78 billion, and net service fees and commission income increased 20.4% to HKD 730 million.

Net profit was HKD 1.579 billion, up 13.1% year-on-year; earnings per share were HKD 1.12. A mid-term dividend of HKD 0.31 was declared, compared to HKD 0.27 in the same period last year.

During the period, credit impairment losses increased by 34% year-on-year, mainly due to prudent provisions made for risks related to commercial real estate in Hong Kong and other corporate loans.

In light of external challenges and economic uncertainties, the bank expects that credit costs will remain high for the full year, and the business outlook will not see significant changes for the remainder of this year