Bank of East Asia: 1st Half Net Profit HK$6.22 Billion Vs. HK$2.10 Billion Year Ago

Bank of East Asia Ltd. (0023.HK)said Friday its first-half net profit nearly tripled from a year earlier, buoyed by one-off disposal gain of Tricor Holdings Ltd. and its units as well as stronger interest income.

The lender said its net profit for the six months ended June rose to 6.22 billion Hong Kong dollars (US$795 million) from HK$2.10 billion a year earlier, while net interest income rose to HK$5.74 billion from HK$5.48 billion a year ago.

Hong Kong's major family-run lender said its China business swung to net profit of HK$336 million for the first-half, reversing the net loss of HK$462 million for the full year of 2016, on reduced provisions for impairment losses on loans.

The bank declared an interim dividend of HK$0.68 per share.

Write to Chester Yung at

(END) Dow Jones Newswires

August 25, 2017 00:55 ET (04:55 GMT)