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HANG SENG BANK: Property Loans Account for 15% in 1H, Further Provisioning Not Ruled Out in 2H
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HANG SENG BANK (00011.HK) has announced its interim results. Executive Director and CEO Diana Ferreira Cesar said that the bank had to increase its provisions in 1H25 to guard against future uncertainties given factors like trade tariffs and pressure on the property market, a move that resulted in a decline in profit. She stressed that these factors were cyclical and the bank was simply preparing for a rainy day, though she believes uncertainties may persist into 2H25. If further recovery doesn't appear in the economy and market at that time, the bank won't rule out the possibility of raising provisions again. Regarding the bank's exposure to the Hong Kong property market, Cesar revealed that related loans accounted for about 15% in 1H25. Of which, around 63% were secured loans, while the remaining 37% were mostly to large corporations with diversified income streams and solid financials. The coverage ratio of collateral plus provisions also surpassed 100%. AAStocks Financial News |
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