Founded in 1933, Hang Seng Bank serves over 3.5 million local residents via about 280 branches located in Hong Kong. It is a principal member of the HSBC Group where HSBC presently owns a 62.14% equity interest in the bank. As of 30 January 2020, Hang Seng Bank is worth HK$304 billion in market capitalisation and is one of the largest listed companies on the Hong Kong Stock Exchange presently.
In this article, I’ll cover its latest annual results and stock valuation. Here are 10 things to know about Hang Seng Bank before you invest:
1. Net interest income (NII) has increased by a CAGR of 8.8% for the last 10 years, growing from HK$14.0 billion in FY2009 to HK$30.0 billion in FY2018.
This is mainly attributed to growth in its average interest-earning assets which increased from HK$737.0 billion in 2009 to HK$1,376.1 billion in 2018, and also