Hang Seng Bank's H1 Profit Rises 1%; EPS, Net Interest Income Miss Estimates; Shares Fall 4%

MT Newswires Live07-31

Hang Seng Bank's (HKG:0011) attributable profit rose 1% to HK$9.89 billion in the first half of 2024 from HK$9.83 billion in the year-ago period, according to a Wednesday filing with the Hong Kong Stock Exchange.

Earnings per share at the bank increased to HK$5.04 from HK$4.99. Analysts at Visible Alpha estimated EPS at HK$4.76.

Net interest income increased 2% to HK$15.5 billion from HK$15.2 billion. Visible Alpha analysts forecast net interest income at HK$15.9 billion.

The bank declared a second interim dividend of HK$1.20 per share, payable Sept. 5 to shareholders on record as of Aug. 15.

Shares fell 4% in Hong Kong on Wednesday's afternoon trading.

Price (HKD): $97.80, Change: $-3.90, Percent Change: -3.83%

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