Share Registry Sale Boosts BEA's Annual Profit
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2018-02-22 HKT 17:04
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Shares of the Bank of East Asia (BEA) have recovered early losses after it said profit for last year more than doubled to HK$9.3 billion – up from just HK$3.7 billion in 2016.
The bank linked this surge mainly to the HK$3 billion sale of share registry firm Tricor and its subsidiaries.
Its business was also helped by higher interest income which grew almost 7 percent last year and a 50 percent fall on bad loans.
The bank will give a dividend of 60 cents per share – up from 28 cents a year ago.
BEA shares gained 0.3 percent on Thursday, closing at HK$33.65.