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Public company info - Dah Sing Banking Group Ltd. , 02356.HK
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Dah Sing Banking Group Ltd., 02356.HK - Company Profile
Chairman WONG Shu Yeh David
Share Issued (share) 1,406,000,000
Par Currency
Par Value 0.0
Industry Banks
Corporate Profile Business Summary: The Group provide banking, financial and other related services in Hong Kong, Macau, and the People’s Republic of China. Performance for the year: The Group’s Treasury division reported significantly higher profit in 2019, with an increase in attributable profit of 43% to HK$469 million. Most areas of the business improved, with an increase in net interest income of 20% to HK$748 million and an increase in overall operating income by 35% to HK$750 million. Business Review： Personal Banking The Group’s Personal Banking business reported reduced profit for the year due to the challenges posed by worse than expected economic growth in 2019 and the prolonged social unrest during the second half in 2019. With the investment in the past years to build a customer centric, multi-channel acquisition and servicing model, and to offer a wider range of products and services, customers’ needs can be better identified and met, with higher quality and efficiency. Personal Banking continued to invest in its digital capabilities to better prepare for the competition ahead. Commercial Banking The Group’s Commercial Banking reported modest growth in business volumes in 2019, which was a challenging year for the Group’s Commercial Banking business. Notwithstanding the weaker loan demand in the second half of 2019, the Group’s Commercial Banking loan book recorded growth of 5% across the Group’s major target customer segments, including the crossborder customer segment in collaboration with Dah Sing Bank (China) Limited (“DSB China”). Deposits recorded a similar growth rate as loan growth in the year. Prospects: After a weak second half in 2019, the Group were hoping to see some recovery in the first half of 2020. However, by late January the impact of the coronavirus was beginning to be felt, and has since spread globally. It is still too early to say exactly what the eventual impact will be, but it is very clear that the economy has weakened further not only in Hong Kong, but also for the Group’s other key markets in Mainland China and Macau, with the recovery of these key markets likely delayed by a weakening global economy. The Group have been making the Group’s best efforts to continue to provide a full banking service to customers in Hong Kong, as well as providing all core banking services to customers in Mainland China and Macau. So far, the Group have been able to do so, thanks to the hard work and dedication of the Group’s staff, who have responded positively to the difficult conditions that are being faced. It is inevitable that the current situation will result in a continued weak economy and weak business conditions at least for some time. Until the Group see a more stable picture, the Group continue to be very cautious about risks in the Group’s business — not only to the Group’s business growth, but also to the Group’s staff and customers. In this regard, last month the Group announced a number of relief measures to help customers who may be in difficulties, through a variety of measures to make the current situation at least somewhat better. As a retail and commercial bank the Group have a reasonable amount of core income, particularly from the Group’s lending businesses, which tends to provide a stream of recurring income even during difficult times. The Group are therefore fortunate to be in a business that benefits from such recurring income, although the demand for banking and financial services will clearly soften in difficult economic conditions.

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