＜Foresight＞Brokers Expect HANG SENG BANK Interim Pre-tax Profit to Fall 4%+, 2nd Interim DPS to Rise to $1.2 (Update)

　　HANG SENG BANK (00011.HK) -0.200 (-0.197%) Short selling $29.26M; Ratio 46.518% will announce its interim results next Wednesday (31 July), under the challenges of Hong Kong's macro-economy, and dragged down by the decline in loan growth and HoH narrowing of net interest margin.

　　Investors expected HANG SENG's net interest income to remain stable in the macro environment this year, and are concerned about whether the group will further extend its share buyback programme, given that the programme will end in September.

　　Related NewsHANG SENG BANK (00011.HK) Ratings, TPs (Table) (Update)

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　　According to the 4 brokers summarised by our reporters, HANG SENG's 1H24 pre-tax profit is expected to be between $10.225 billion and $10.977 billion, a YoY drop of 0.1% to 6.7% compared with $10.961 billion at 1H23. The median forecast of $10.499 billion represented a 4.2% YoY decline.

　　Broker│1H24 Pre-tax Profit Forecasts│YoY change

　　Citi│$10.977 billion│-0.1%

　　Jefferies│$10.548 billion│-3.8%

　　UBS│$10.449 billion│-4.7%

　　Morgan Stanley│$10.225 billion│-6.7%

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　　All 4 brokers summarised by our reporters forecasted HANG SENG's second interim dividend for 2024 to be $1.2, up 9.1% YoY.

　　Related NewsM Stanley Raises BOC HONG KONG (02388.HK) and HANG SENG BANK (00011.HK) TPs, Strong 2Q Results Expected

　　Broker│2nd Interim Dividend Forecasts│YoY change

　　Citi│$1.2│+9.1%

　　Jefferies│$1.2│+9.1%

　　Morgan Stanley│$1.2│+9.1%

　　UBS│$1.2│+9.1%

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 12:25.)

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