The mainland subsidiary of Hong Kong-based lender Hang Seng Bank has seen roaring growth in nets profits over the past three year period.
Hang Seng Bank (China) recently reported that total assets in 2021 reached 137.067 billion yuan, for year-on-year (YoY) growth of 15%.
Operating revenues grew 2.1% YoY, while pre-tax profits surged 166% YoY.
According to Hang Seng Bank (China) the lender’s assets have seen average compound annual growth of 16% during the period from 2018 to 2021, while net profit growth has averaged 27%.
Parent company Hang Seng Bank is one of Hong Kong’s largest public companies in terms of market capitalisation, and majority owned by HSBC Group.