AEON Credit Service (Asia) (AEON Credit) reported solid earnings growth for the year ended 28 February 2026, driven by wider net interest margins, disciplined cost control and improved asset quality.
Revenue and profitability • Revenue rose 3.8% year on year to HK$1.83 billion. • Net interest income increased 5.2% to HK$1.42 billion as the loan book expanded and funding costs eased (average cost of funds down to 3.6% from 4.1%). • Profit before tax climbed 17.8% to HK$561.84 million; net profit advanced 16.9% to HK$468.20 million. • Basic EPS improved to 111.80 HK cents (FY2024/25: 95.63 HK cents). • Cost-to-income ratio narrowed to 44.5% from 46.6%.
Dividend The board proposes a final dividend of 33.0 HK cents per share (FY2024/25: 25.0 HK cents), bringing full-year payout to 58.0 HK cents and representing a 51.9% payout ratio. Books will close 9–10 July 2026; payment is scheduled for 31 July 2026.
Balance-sheet highlights • Gross advances and receivables grew 8.0% to HK$7.91 billion, with credit-card receivables up to HK$5.94 billion and personal loans at HK$1.75 billion. • Impairment allowances edged up to HK$276.90 million, but credit costs fell 5.5% to HK$421.64 million, reflecting better asset quality. • Stage 2+3 receivables ratio improved to 3.9% (28 Feb 2025: 4.2%). • Total equity increased 5.5% to HK$4.48 billion; net debt-to-equity remained steady at 0.7. • Total borrowings stood at HK$3.37 billion, with 71.8% maturing within one year; average tenor shortened to 0.8 years.
Segment performance • Credit cards: revenue HK$1.45 billion (+5.5%); segment profit HK$525.62 million (+15.1%), contributing 93.2% of group earnings. • Personal loans: revenue HK$337.63 million (-3.6%); segment profit HK$22.74 million (FY2024/25: HK$8.06 million) on lower impairment. • Insurance intermediary: revenue HK$34.04 million (+9.4%); profit HK$15.90 million.
Geographical split • Hong Kong revenue HK$1.76 billion (+2.9%); profit HK$586.23 million (+24.2%). • Mainland China revenue HK$60.65 million; segment loss HK$21.96 million due to higher credit provisions.
Operational notes The 35th-anniversary year saw continued digital upgrades, expansion of the “AEON HK” app with in-app transaction authentication, and launch of sustainable products such as the “AEON Green Personal Loan”. The group also secured a HK$300 million sustainability-linked syndicated loan.
Outlook Management will prioritise receivable growth via the upcoming “One AEON Point” unified loyalty platform, further AI-driven credit processes and tighter risk controls, while integrating ESG considerations across operations.
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