Bank of East Asia logs HK$2.1b profit for H1

Ongoing commercial real estate (CRE) concerns led to the 19.9% decline.

Bank of East Asia (BEA) saw its profit attributable to owners of the parent decline 19.9% year-in-year (YoY) to $269.28m (HK$2.1b) in the first six months of 2024, the bank’s interim results showed.

Basic earnings per share is HK$0.69 for H1, compared to HK$0.87 in H1 2023.

In the report, the Hong Kong-based bank noted the “complex” operating environment in the banking industry.

“The situation facing developers in both the Chinese Mainland and Hong…