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Hong Kong : BOC Hong Kong (Holdings) 2014 interim profits achieved new height - Profit attributable to the equity holders reached HK$12.1 billion

August 20, 2014

BOC Hong Kong (Holdings) Limited today announced its 2014 interim results. The Company and its subsidiaries ( the Group ) recorded new interim heights for its revenues and profits. Net operating income before impairment allowances increased by 9.4% year-on-year to HK$21,649 million. Profit attributable to the equity holders increased by 7.4% year-on-year to HK$12,083 million. Encouraging growth was recorded in both loans and deposits. All key financial ratios were maintained at sound levels. The financial results reflected the Group s proactive asset allocation strategy and consistent progress in building its franchise in core businesses. These promising developments lay a good foundation to support the Group s future growth.

The Group s profitability once again achieved an interim high, mainly driven by the sustained good performance of core revenue. During the period, we took advantage of business opportunities while adhering to stringent risk control. The Group continued to enhance the competitiveness of its offshore RMB service capabilities, further reinforcing its market leadership. Our collaboration with parent bank, Bank of China, and its overseas branches continued to deepen as we capitalised on opportunities that arose from Mainland enterprises going global and foreign enterprises investing in China. The Group maintains an ongoing commitment to proactively manage capital, assets and liabilities as well as liquidity, while strengthening control on all types of risk. We will continue to offer quality products and premium services to our customers to sustain the growth of the Group and to maximise value for our shareholders.

The development of the offshore RMB market has provided the Group with favourable conditions to further diversify its business by customer, geography and product. Over the past few years, we have taken significant steps to build new business capabilities and enhance operating efficiency to better serve customer needs. Going forward, we will continue to focus our investments on the Group s key strategic areas to support sustainable growth and ensure efficient use of resources. While striving to capture market opportunities, we will continue to exercise stringent risk management to safeguard asset quality. We will also focus on allocating capital efficiently to support our business needs, meet the regulatory requirements and generate solid returns for our shareholders. By capitalising on our unique competitive edge in offshore RMB and cross-border businesses, we will continue to enhance our total solution capabilities to better serve our customers in Hong Kong, the Mainland of China and other parts of the world. With our strong franchise and financial position, I truly believe that the Group will continue to be well positioned to capture quality growth opportunities ahead.

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Source: TendersInfo (India)

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