Summary by Moomoo AI
BOC Hong Kong announced its semi-annual performance on June 30, 2024, with a profit of HKD 20.463 billion for the period, an increase of 13.2% year-on-year. The net interest margin is 1.46%. After adjusting for the income or cost of forex forward contracts, the adjusted net interest margin is 1.61%, an increase of 5 basis points year-on-year. Operating expenses increased by 3.4% year-on-year. The net operating income before provision for impairment increased by 14.6% year-on-year. The cost-to-income ratio improved by 2.48 percentage points to 22.98% year-on-year, consistently at a better level in the local banking industry. The loan provision ratio is 1.06%, consistently better than the market average. The total capital ratio is 22.17%; the Tier 1 capital ratio and the common equity Tier 1 capital ratio are both 20.05%. Liquidity remains ample, with the average liquidity coverage ratio for the first quarter and second quarter of 2024 and the quarter-end stable funding net ratio meeting the relevant regulatory requirements.
