Hang Seng Bank (0011) net profit for 2020 fell by 33 percent year-on-year to HK$16.69 billion. The annual dividend fell by nearly 33 percent to HK$5.5. Net interest income fell by 17 percent to HK$26.91 billion, due to narrow interest margin, dragged down by low global interest rates. Net interest margin narrowed by 40 basis points to 1.59 percent. Non-interest income fell by 19 percent to HK$9.16 billion.

Source: The Standard February 23, 2021 05:37 UTC