OREANDA-NEWS. March 01, 2013. The Bank of East Asia and its subsidiaries (collectively, the “BEA Group”) have announced consolidated profit after taxation of HKD6,154 million for the year ended 31st December, 2012.

This is 38.3 percent higher than the net profit of HKD 4,451 million reported for 2011.

Profit attributable to owners of the parent totalled HKD 6,056 million, or an increase of 39.0 percent year-on-year, a new record for the third straight year.

Basic earnings per share rose to HKD 2.72, an increase of HKD 0.76 over the HKD 1.96 per share reported for 2011.

Return on average assets and return on average equity for 2012 were 0.9 percent and 11.9 percent, respectively.

The Board of Directors has declared a second interim dividend (in lieu of final dividend) of HKD 0.63 per share, bringing the total dividend for 2012 to HKD 1.06 per share.

Despite weakness in the global economy in 2012, the BEA Group leveraged its strengths in the Greater China region to capitalise on growing cross-border activity with Mainland China. This contributed to growth in the Group’s total operating income, which climbed to HKD 15,109 million, a rise of 18.8 percent compared to the HK\\$12,715 million recorded for 2011.

Net interest income rose to HKD 9,724 million for 2012, or growth of 5.0 percent year-on-year. The BEA Group’s net interest margin narrowed to 1.67 percent in 2012, down 8 basis points from the 1.75 percent recorded in 2011.

Non-interest income increased by HKD 1,933 million, or 56.0 percent. The rise was mainly attributable to the favourable performance of the investment portfolio, resulting in a gain of HKD 1,429 million for the trading activities and financial instruments designated at fair value through profit or loss. The improvement in non-interest income was also driven by stronger net fee and commission income, which rose by HKD 329 million, or 10.