The Zhitong Finance App learned that Daxin's results rose sharply. As of press release, Daxin Finance (00440) rose 15.5% to HK$18.48; Dah Sing Bank Group (02356) rose 9.55% to HK$5.62.
According to the news, Dah Sing Bank Group announced its annual results at noon. The group received net interest income of HK$4.815 billion during the period, up 9.9% year on year; profit attributable to shareholders of HK$1.86 billion, up 15.6% year on year; basic profit per share of HK$1.32; and proposed to pay a final dividend of HK$0.49 per share.
Daxin Financial also announced its annual 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 shareholders of the company 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. Due to rising market interest rates and the Group's efforts to control capital costs during the year, net interest spreads increased by 16 basis points. Despite the relatively weak demand for loans in the Group's core market, the loan balance of most businesses increased, while the Group's overall loan balance increased by 5%.