Dah Sing Financial Holdings (0440) reported today unaudited net profit for the six months ended June 30, slumped by 33.1 percent to HK$744.8 million. Dah Sing Financial declared an interim dividend of HK$0.27 per share. The profit dropped was mainly caused by higher impairment charges on loans and on investment in Bank of Chongqing, Dah Sing Financial said. The net credit impairment charge increased from HK$93 million to HK$365 million, Dah Sing Financial said. Underlying business performance weakened, both due to weaker credit performance, and due to a squeeze in net interest margin, with funding costs reduced more slowly than asset yields.

Source: The Standard August 26, 2020 05:51 UTC