DAH SING (00440) announced its annual results for the 2025 fiscal year. Net interest income reached HK$5.901 billion, representing a year-on-year increase of 9.3%. Profit attributable to shareholders was HK$2.057 billion, a significant rise of 22.9% compared to the previous year. Basic earnings per share stood at HK$6.45. The board has declared a final dividend of HK$1.42 per share.

The company's trading activities performed strongly in 2025, benefiting from a reduction in Hong Kong dollar interest rates and heightened volatility in the foreign exchange markets. These positive factors helped to offset increased funding swap costs resulting from the widening interest rate differential between the Hong Kong dollar and the US dollar.

Supported by a favorable stock market environment, the company's investment business achieved steady growth in total investment returns, demonstrating its continued focus on building long-term and compounded performance. Total assets under management from insurance and investment operations increased by 17% year-on-year, further enhancing the company's capacity to generate future investment returns.

Amid a mixed economic backdrop, the group demonstrated resilient performance. Pre-impairment operating profit grew by 24%, while operating expenses saw only a moderate increase. The cost-to-income ratio improved to 43.3%, down from 47.8% in the prior year.

Despite operating in an environment of generally declining interest rates, Dah Sing Bank's net interest margin expanded by 24 basis points to 2.41%. This improvement reflects the company's successful efforts in increasing current and savings deposit balances, coupled with proactive and stringent control over funding costs. These measures enabled the company to achieve an expansion in its net interest margin, even as the local banking sector faced margin pressure following interest rate cuts by the US Federal Reserve.