Profit Before Tax Increases by HK$900m, Non-interest Income Jumps 26%
Dividend Per Share Up Nearly 5%
HONG KONG, Feb. 19, 2025 /PRNewswire/ -- Hang Seng Bank today is pleased to report its strong full-year financial results for 2024, showing sustained growth momentum.
The Bank saw a notable 26% increase in non-interest income, a result of deliberate efforts in diversifying its revenue streams and growing the target customer base.
Despite a year of uncertainties, operating profit increased by 8% year-on-year to HK$21,558m. Profit before tax increased by more than HK$900m year-on-year. Earnings per share improved by 4% while return on shareholders' equity remained steady at 11.3% compared to 2023. Total dividend distribution for 2024 was HK$6.80 per share, an improvement of 4.6% year-on-year.
As a result of accelerating growth in the retail customer base both in Hong Kong and mainland China, the Bank reported a 75% jump in new-to-bank affluent customers and a 15% increase in affluent customer numbers. New account openings for retail mainland China customers surged 81% year-on-year as integrated banking and wealth management services enhanced cross-boundary business.
Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank, said: "2024 was a challenging year with geopolitical and macro uncertainties. But Hang Seng delivered a strong financial performance by focusing on diversifying our revenue and growing our target customer base. We also took a proactive approach to de-risk our portfolio, which enabled us to keep growing, and delivered notable results for our stakeholders. Going forward, we will continue to invest in our capabilities and support our community, which will fuel growth in a sustainable manner and contribute to Hong Kong's position as an international financial centre and global super-connector."
With economic uncertainties set to persist, Hang Seng continues to adopt a prudent and forward-looking risk management approach, which will provide us with a solid foundation for future growth.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hang Seng Bank Delivers Strong Business Performance with Sustained Growth Momentum
BALI, Indonesia, Jan. 14, 2026 /PRNewswire/ -- Savaya Group, in partnership with PT Kharisma Anugrah Jawara Abadi (KAJA Group), a prominent Indonesian hospitality developer today unveiled Zumana, a new beachfront hospitality destination set along the iconic shoreline of Kuta Beach.
Conceived as an immersive exploration of modern society, Zumana is a living environment where human behavior, ritual, and self-expression are observed, amplified, and celebrated. Framed by Bali's legendary sunsets, the experience unfolds through music, architecture, and collective gathering, blurring the boundaries between spectator and participant.
Situated on one of Bali's most historically significant coastlines, Zumana reintroduces Kuta as a contemporary hospitality destination, offering a renewed perspective on an area that once defined the island's global appeal.
Designed by the internationally acclaimed Rockwell Group, the 35,000-square-foot venue integrates a beachfront daylife experience with a 200-seat restaurant, allowing guests to transition seamlessly from sun-led afternoons into elevated dining and nightlife as day turns to night.
Alex Cordova, CEO of Savaya Group, said:
"Building on the global success of Savaya, this project underscores our long-term commitment to Bali as a destination with both a distinct identity and global relevance. We are focused on developing concepts that originate here, resonate internationally, and contribute meaningfully to the island's enduring appeal. At its core, our work is about creating experiences that stay with guests long after they leave."
Nadia Tjahyadikarta, Managing Director of KAJA Group, added:
"As an Indonesian-founded group, we continue to grow our portfolio through a balance of global partnerships and original concepts. This project represents the latter, a destination conceived from the ground up to express a distinct point of view. In collaboration with Savaya Group, we are proud to introduce a beachfront experience that sets a new benchmark for Indonesia and Southeast Asia."
Zumana is scheduled to open in 2026 on Kuta Beach, further strengthening Bali's position as a leading global destination for lifestyle, culture, and hospitality.
www.ZumanaBali.com
About Savaya Group
Savaya Group is a hospitality company developing and operating restaurant, nightlife, wellness, and lifestyle destinations across Asia-Pacific and the Middle East. Its portfolio includes Savaya Bali, Desa Kitsuné, and Ina Ré, with projects recognized globally for experiential hospitality.
About KAJA GROUP
KAJA Group (PT Kharisma Anugrah Jawara Abadi) is an Indonesian hospitality and lifestyle developer founded in 2016, focused on design-led concepts and premium guest experiences.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Savaya Group Announces Zumana, a New Beachfront Destination on Bali's Iconic Kuta Beach
