Bank of East Asia Reports Lower Mid-Year Profits

Bank of East Asia (HK:0023) has released an update.

The Bank of East Asia has reported a decrease in profit for the first half of 2024, with a net profit of HK$2,121 million compared to HK$2,638 million in the same period last year. Despite an increase in interest income and operating income, the bank faced higher impairment losses and interest expenses, which contributed to the lower overall profit. Basic and diluted earnings per share also fell to HK$0.69 from HK$0.87 a year earlier.

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