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HANG SENG BANK Dives Over 1% despite Better Than Expected Annual Net Profit with Rising Div

HANG SENG BANK (00011.HK)  -2.200 (-1.144%)    Short selling $38.67M; Ratio 18.501%   last stood at $189.8, down 1.3%, on increasing volume to 2.05 million shares, due to profit taking after midday.

HANG SENG BANK announced the results for the year ended December 2017. Net profit rose 23.5% yearly to $20.018 billion, higher than market estimates (ranging from $18.373 billion to $19.605 billion). EPS was $10.3. Fourth interim dividend equaled to $3.1, up nearly 11% yearly. During the period, total operating revenue lifted 13.5% yearly to $50.076 billion. Net interest income gained 10.44% to $24.577 billion. Net interest margin rose by 9 basis points to 1.94%.

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