Dah Sing Financial Holdings Limited · HKEX:440
Dah Sing Financial — 1H 2025 Earnings Presentation
21 slides from Dah Sing Financial's earnings presentation, Aug 20, 2025
Slide 1: Dah Sing Financial Group 2025 Interim Results
Dah Sing Financial Group 2025 Interim Results 20 August 2025
Slide 2: Performance Highlights
Performance Highlights • Despite challenging market conditions in 1H 2025, profit attributable to shareholders grew 13% for DSBG and 26% for DSFH, driven mainly by strong operating income • Double-digit growth in revenue supported by robust fee and commission income, trading income, and higher net i
Slide 3: Dah Sing Banking Group (2356)
Dah Sing Banking Group (2356) HK$’ million 1H 2025 1H 2024 Change Net interest income 2,776 2,539 +9% Net fee and commission income 727 603 +20% Net trading income and other income 293 145 +102% Total operating income 3,796 3,287 +15% Operating expenses (1,707) (1,595) +7% Credit impairment losses (
Slide 4: Dah Sing Financial Holdings (0440)
Dah Sing Financial Holdings (0440) HK$’ million 1H 2025 1H 2024 Change Net interest income 2,815 2,595 +8% Net fee and commission income 720 595 +21% Net trading income, insurance service result after net insurance 577 203 +184% finance expense and other operating income Total operating income 4,112
Slide 5: Dah Sing Banking Group
Dah Sing Banking Group ED ivenhee Ca DAH SING FINANCIAL GROUP
Slide 6: Personal Banking
Personal Banking • Net interest income reported single-digit growth mainly due to asset volume growth and disciplined funding cost control • Increase in non-interest income with strong wealth management related income and customer FX related income • Revenue growth outpaced increase in operating cos
Slide 7: Corporate Banking
Corporate Banking • Lower net interest income due mainly to subdued loan demand and lower market interest rates • Higher non-interest income driven by stronger fee and commission and trading income • Reduction in operating income primarily due to higher non-interest income offset by lower net intere
Slide 8: Treasury and Global Markets
Treasury and Global Markets • Growth in total operating income and net profit driven by increase in both net interest margin and trading revenues • Customer business remained robust, driven by strong collaboration with personal banking and corporate banking businesses • Conservative liquidity manage
Slide 9: Mainland China and Macau
Mainland China and Macau Mainland China: • DSB (China): Higher non-interest income driven by increased cross- border services, partially offset by decline in net interest income despite mild loan growth • BOCQ: Stable profit contribution with no impairment charge recognised Macau: • Higher non-inter
Slide 10: Dah Sing Financial Holdings
Dah Sing Financial Holdings 10
Slide 11: Insurance and Investment Operations
Insurance and Investment Operations • Insurance and investment operations in Hong Kong and Macau recorded 74% year on year growth in operating profit underpinned by disciplined underwriting and solid investment performance • Double-digit growth in general insurance revenue, driven by strong performa
Slide 12: Insurance and Investment Operations
Insurance and Investment Operations • Solvency and capital strength remained robust with strong capacity for business growth and resilience against market volatility • Growth in total assets under management from insurance and investment operations • Investment operations manage the insurance invest
Slide 13: Financial Overview
Financial Overview ED ivenhee Ca DAH SING FINANCIAL GROUP 13
Slide 14: DSBG's Operating Income and Net Interest Margin
DSBG’s Operating Income and Net Interest Margin Income from core businesses Net interest margin 4,000 2.4% 3,796 2.32% 3,648 173 293 2.24% 3,500 3,287 2.2% 2.17% 145 726 727 3,000 2.09% 603 2,500 2.0% HK$ million 2,000 2,539 2,749 2,776 1.8% 1,500 1,000 1.6% 77% 75% 73% 500 0 1.4% 1H24 2H24 1H25 202
Slide 15: DSBG's Operating Expenses and Credit Impairment Losses
DSBG’s Operating Expenses and Credit Impairment Losses Operating expenses Credit impairment losses 1,800 1,400 1,247 1,750 1,745 1,200 1,707 1,000 1,700 HK$ million HK$ million 800 728 1,650 600 544 1,600 1,595 400 1,550 200 1,500 0 1H24 2H24 1H25 1H24 2H24 1H25 15
Slide 16: Gross Advances to Customers and Trade Bills, and Asset Quality
Gross Advances to Customers and Trade Bills, and Asset Quality Gross advances to customers and trade bills Stage 3 ECL allowances 1,919 2,000 Change relative to 2024 year-end: +1.2% Stage 1 & 2 160,000 1,533 150,000 143.1 bn 139.9 bn 141.5bn 1,500 140,000 1,181 60.4% 1,116 HK$ million 130,000 56.9%
Slide 17: Hong Kong Commercial Real Estate
Hong Kong Commercial Real Estate ECL allowances Property investment related loans 600 Stage 3 Stage 1 & 2 548 HKCRE secured and unsecured loans 500 35,000 400 31.0 bn HK$ million 323 30,000 29.5 bn 28.1 bn 300 82% 9% 6% 9% 10% 200 71% 25,000 7% 96 101 14% 6% 100 2% 13% 33% 14% 67% 98% 29% 18% 20,000
Slide 18: Key Return Indicators
Key Return Indicators Return on average total assets and Basic EPS of DSBG and DSFH shareholders’ funds of DSBG 5.50 5.25 10% 4.99 9.2% 5.00 8.5% 4.41 4.50 8% 4.00 3.49 3.50 6% 3.00 HK$ 2.50 4% 2.00 1.47 1.50 1.32 1.12 0.99 2% 1.2% 1.00 1.1% 0.50 0% 0.00 1H24 1H25 2023 2024 1H 2024 1H 2025 Return on
Slide 19: Capital Adequacy and Liquidity
Capital Adequacy and Liquidity Capital adequacy ratio Liquidity maintenance ratio 25% 70% 22.5% 20.8% 21.0% 60% 20% 3.6% 3.4% 3.4% 50% 0.7% 15% 0.7% 0.7% 40% 64.7% 64.2% 60.7% 10% 30% 16.7% 18.2% 16.9% 20% 5% 10% 0% 0% 30 Jun 24 31 Dec 24 30 Jun 25 30 Jun 24 31 Dec 24 30 Jun 25 CET1 Additional T1 T2
Slide 20: Conclusions
Conclusions ED ivenhee Ca DAH SING FINANCIAL GROUP 20
Slide 21: Conclusions
Conclusions • Good performance in non-interest income due mainly to customer demand for wealth management services including bancassurance, with contribution also from FX-related and other trading activities • Increase in net interest margin driven by disciplined funding cost management with respect
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