Dah Sing Financial Holdings Limited · HKEX:440
Dah Sing Financial — FY2024 Earnings Presentation
20 slides from Dah Sing Financial's earnings presentation, Mar 31, 2025
Slide 1: Dah Sing Financial Group 2024 Annual Results
Dah Sing Financial Group 2024 Annual Results 31 March 2025
Slide 2: Performance Highlights
Performance Highlights • Increase in net interest income year-on-year, driven by higher net interest margin • Growth in non-interest income mainly driven by higher fee and commission income from bancassurance business • Strong growth in operating profit before credit impairment charge • Growth in ne
Slide 3: Dah Sing Banking Group (2356)
Dah Sing Banking Group (2356) HK$’ million 2024 2023 Change Net interest income 5,288 4,815 +10% Net fee and commission income 1,329 867 +53% Net trading income and other income 318 234 +36% Total operating income 6,935 5,916 +17% Operating expenses (3,340) (3,169) +5% Credit impairment losses (1,79
Slide 4: Dah Sing Financial Holdings (0440)
Dah Sing Financial Holdings (0440) HK$’ million 2024 2023 Change Net interest income 5,401 4,951 +9% Net fee and commission income 1,311 851 +54% Net trading income, net insurance premium and other operating income net of insurance claims and expenses 499 441 +13% Total operating income net of insur
Slide 5: Dah Sing Banking Group
Dah Sing Banking Group ED ivenhee Ca DAH SING FINANCIAL GROUP
Slide 6: Personal Banking
Personal Banking • Double-digit growth in net interest income mainly due to higher net interest margin contributed by enhanced asset yields and lower funding cost • Non-interest income grew by 60%, with a strong performance in wealth management related income • First full year contribution of bancas
Slide 7: Corporate Banking
Corporate Banking • Lower net interest income due primarily to decrease in financing demand from borrowers as result of high interest rates • Decrease in non-interest income driven by lower loan and trade related fee • Higher provisions largely due to weak conditions in Hong Kong and Mainland China
Slide 8: Treasury and Global Markets
Treasury and Global Markets • Increase in total operating income and profit driven by higher net interest margin and higher trading revenues • Customer business remained robust, driven by strong collaboration with personal banking and corporate banking businesses • Conservative liquidity management
Slide 9: Mainland China and Macau
Mainland China and Macau Macau: • Higher net interest income driven by growth in average interest earning assets and enhanced customer deposit mix • Decrease in non-interest income as compared to higher base last year Mainland China: • DSB (China): Mild growth of operating income due to higher non-
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 higher profitability underpinned by disciplined underwriting and robust investment performance • Double-digit growth in general insurance revenue, with contribution from portfolio rebalancing an
Slide 12: Insurance and Investment Operations
Insurance and Investment Operations • Total AUM from insurance and investment operations grew 17% • Investment operations include both the insurance investment portfolio and the group investment portfolio which are managed to generate investment returns over time • Increase in investment return repo
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% 3,648 2.24% 3,500 3,287 173 2.17% 3,225 2.2% 190 145 726 2.09% 3,000 2,691 2.01% 489 603 2.0% 44 2,500 378 HK$ million 2,000 1.8% 1,500 2,269 2,546 2,539 2,749 1.6% 1,000 84% 79% 77% 75% 1.4% 5
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 1,745 1,247 1,750 1,200 1,700 1,000 1,650 1,636 HK$ million HK$ million 800 1,595 1,600 600 574 544 1,550 1,533 400 1,500 200 157 1,450 1,400 0 1H23 2H23 1H24 2H24 1H23 2H23 1H24 2H24 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 2,000 ECL allowances Stage 1 & 2 Change relative to 2023 year-end: -3.6% 160,000 1,642 1,533 150,000 145.1 bn 143.1 bn 139.9bn 1,500 1,378 140,000 1,116 HK$ million 130,000 54.0% 23% 22
Slide 17: 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 5.00 4.50 4.09 8% 3.83 4.00 6.0% 6.2% 3.50 6% 3.00 HK$ 2.50 4% 2.00 1.47 1.50 1.32 1.18 1.14 2% 1.00 0.7% 0.8% 0.50 0% 0.00 2023 2024 2021 2022 2023 2024 Return on avera
Slide 18: Capital Adequacy and Liquidity
Capital Adequacy and Liquidity Capital adequacy ratio Liquidity maintenance ratio 25% 70% 21.2% 20.8% 21.0% 60% 20% 4.3% 3.4% 3.4% 50% 15% 0.7% 0.7% 0.7% 40% 64.0% 64.7% 64.2% 10% 30% 16.2% 16.7% 16.9% 20% 5% 10% 0% 0% 31 Dec 23 30 Jun 24 31 Dec 24 31 Dec 23 30 Jun 24 31 Dec 24 CET1 Additional T1 T2
Slide 19: Conclusions
Conclusions ED ivenhee Ca DAH SING FINANCIAL GROUP 19
Slide 20: Conclusions
Conclusions • Increase in profit attributable to shareholders mainly driven by higher net interest income and non-interest income • Strong performance in personal banking, wealth management and treasury and markets businesses as well as robust performance in our insurance and investment operations d
Dah Sing Financial Group — FY2024 Earnings Presentation on 6ix