BOC Hong Kong (Holdings) Limited (HKG:2388)

BOC Hong Kong (Holdings) Income Statement

Financials in millions HKD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	129,804	121,459	60,954	39,482	48,755
Interest Income on Investments	9,635	7,030	2,816	816	1,173
Total Interest Income	139,439	128,489	63,770	40,298	49,928
Interest Paid on Deposits	87,105	77,411	25,020	8,357	15,190
Net Interest Income	52,334	51,078	38,750	31,941	34,738
Net Interest Income Growth (YoY)	2.46%	31.81%	21.32%	-8.05%	-14.28%
Income From Trading Activities	10,988	8,315	12,839	5,091	5,174
Gain (Loss) on Sale of Assets	-3	-5	-1	-3	-4
Gain (Loss) on Sale of Investments	-1,675	-1,126	-3,564	1,582	4,728
Other Non-Interest Income	9,606	7,231	6,190	10,368	9,834
Total Non-Interest Income	18,916	14,415	15,464	17,038	19,732
Non-Interest Income Growth (YoY)	31.22%	-6.78%	-9.24%	-13.65%	10.15%
Revenues Before Loan Losses	71,250	65,493	54,214	48,979	54,470
Provision for Loan Losses	5,082	6,333	2,348	2,145	2,707
Revenue	66,168	59,160	51,866	46,834	51,763
Revenue Growth (YoY)	11.85%	14.06%	10.74%	-9.52%	-8.25%
Salaries and Employee Benefits	11,470	10,725	9,946	9,542	9,461
Occupancy Expenses	4,392	4,313	4,274	4,271	4,275
Selling, General & Administrative	45	32	39	34	43
Other Non-Interest Expense	1,587	1,537	2,691	2,560	2,568
Total Non-Interest Expense	17,598	16,846	17,289	16,620	16,499
EBT Excluding Unusual Items	48,570	42,314	34,577	30,214	35,264
Asset Writedown	-1,816	-1,400	-1,415	-246	-1,681
Pretax Income	46,754	40,914	33,162	29,968	33,583
Income Tax Expense	7,636	6,057	5,932	4,969	5,115
Earnings From Continuing Operations	39,118	34,857	27,230	24,999	28,468
Minority Interest in Earnings	-885	-742	100	-651	-605
Net Income	38,233	34,115	27,330	24,348	27,863
Preferred Dividends & Other Adjustments	-	1,392	1,390	1,378	1,376
Net Income to Common	38,233	32,723	25,940	22,970	26,487
Net Income Growth	12.07%	24.83%	12.25%	-12.62%	-17.01%
Basic Shares Outstanding	10,573	10,573	10,573	10,573	10,573
Diluted Shares Outstanding	10,573	10,573	10,573	10,573	10,573
EPS (Basic)	3.62	3.10	2.45	2.17	2.51
EPS (Diluted)	3.62	3.10	2.45	2.17	2.51
EPS Growth	16.84%	26.15%	12.93%	-13.28%	-17.70%
Dividend Per Share	1.989	1.672	1.357	1.130	1.242
Dividend Growth	18.96%	23.21%	20.09%	-9.02%	-19.19%
Effective Tax Rate	16.33%	14.80%	17.89%	16.58%	15.23%

Updated Aug 29, 2024. Source: S&P Global Market Intelligence. Banks template. Financial Sources.