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HKMA: HK Banks' 1-3Q Pre-tax Operating Profit Hikes 8.4% YoY
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The aggregate pre-tax operating profit of retail banks in Hong Kong increased by 8.4% YoY in 1Q24-3Q24, mainly attributable to increases in income from investments held for trading and income from foreign exchange and derivatives operations, partially offset by a decrease in net interest income, according to the Hong Kong Monetary Authority (HKMA)'s quarterly report on banking sector performance. Retail banks' net interest margin narrowed to 1.5% in the first three quarters of 2024 from 1.68% in the same period last year. AAStocks Financial News |
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