LONDON (dpa-AFX) - Hang Seng Bank Ltd. posted first-half pre-tax profit of HK$10.66 billion versus HK$9.35 billion last year. Hang Seng Bank is an indirectly held, 62.14%-owned, subsidiary of HSBC Holdings plc (HBC, HSBA.L).
Earnings per share were HK$4.87, up from HK$4.27 in the prior-year period. The company said year-ago period results were restated.
Net interest income rose 8.5% to HK$8.29 billion from a year ago. Growth was driven by the increase in average interest earning assets, improved loan and deposit spreads, and increased returns from the life insurance investment funds portfolio.
Further, the Directors have declared a second interim dividend of HK$1.10 per share, which will be payable on 30 August 2012 to shareholders on the register of shareholders as of 15 August 2012.
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