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  • Financial Statements
  • Consolidated Income Statement

CONSOLIDATED INCOME STATEMENT

 

 

For the year ended 31 December

 

Note

2020

HK$ million

2019

HK$ million

Interest income

 

336,985

330,267

Interest expenses

 

(164,967)

(160,125)

Net interest income

5(a)

172,018

170,142

Fee and commission income

 

44,814

42,770

Fee and commission expenses

 

(5,636)

(6,807)

Net fee and commission income

5(b)

39,178

35,963

Sales of goods and services

5(c)

323,808

344,076

Other revenue

5(d)

17,945

16,316

   

341,753

360,392

Total revenue

 

552,949

566,497

Cost of sales and services

6,11

(276,305)

(283,148)

Other net income

7

6,363

9,944

Expected credit losses

8

(96,927)

(88,722)

Impairment losses

9

(3,649)

(7,024)

Other operating expenses

11

(88,647)

(103,894)

Net valuation loss on investment properties

 

(675)

(756)

Share of profits of associates, net of tax

 

10,533

8,083

Share of profits of joint ventures, net of tax

 

3,960

5,474

Profit before net finance charges and taxation

 

107,602

106,454

Finance income

 

1,266

2,264

Finance costs

 

(11,150)

(12,703)

Net finance charges

10

(9,884)

(10,439)

Profit before taxation

11

97,718

96,015

Income tax

12

(16,790)

(17,827)

Profit for the year

 

80,928

78,188

Attributable to:

 

 

 

- Ordinary shareholders of the Company

 

56,628

53,903

- Non-controlling interests

 

24,300

24,285

Profit for the year

 

80,928

78,188

Earnings per share for profit attributable to ordinary shareholders of the Company during the year:

 

 

 

Basic and diluted earnings per share (HK$)

16

1.95

1.85

 

The notes form part of these consolidated financial statements.