tiprankstipranks
Company Announcements

Bank of East Asia Reports Increased Profits for 2024

Story Highlights
  • The Bank of East Asia reported a 2024 net profit of HK$4,629 million, up from HK$4,136 million.
  • Despite challenges, the bank’s growth reflects its market strength and operational efficiency.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Bank of East Asia Reports Increased Profits for 2024

Discover the Best Stocks and Maximize Your Portfolio:

Bank of East Asia ( (HK:0023) ) just unveiled an announcement.

The Bank of East Asia announced its audited financial results for the year ending December 31, 2024, reporting a net profit of HK$4,629 million, a notable increase from HK$4,136 million in the previous year. The bank’s consistent accounting policies facilitated this growth, bolstered by increases in both interest income and non-interest income, despite facing challenges such as impairment losses and valuation losses on investment properties. This financial performance reflects the bank’s resilient market positioning and operational efficiency, potentially benefiting stakeholders by enhancing shareholder value and establishing a stronger competitive edge in the banking industry.

More about Bank of East Asia

The Bank of East Asia, Limited, founded in 1918 and incorporated in Hong Kong, is a key financial institution offering a comprehensive range of banking and financial services. It primarily focuses on serving customers in Hong Kong and Mainland China with services including personal banking, corporate banking, wealth management, and investment services.

YTD Price Performance: 2.38%

Average Trading Volume: 1,238

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $3.42B

For detailed information about 0023 stock, go to TipRanks’ Stock Analysis page.

Related Articles
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1