Hang Seng Bank's operating profit jumped 12% to $8,934m

Net interest income edged up 8%.

According to a release, Hang Seng's profit attributable to shareholders was up 100% at $18,468 million.

Earnings per share also rose by 100% to $9.66 and profit before tax grew by 77% to $18,773 million. Excluding the Industrial Bank reclassification, profit attributable to shareholders increased by 27% to $8,951 million, earnings per share rose by 27% to $4.68 and profit before tax was up 25% at $10,319 million.

The total dividend distribution per share for the first half of 2013 was $2.20 – the same as in the first half of 2012.

Operating profit excluding loan impairment charges rose by 11% to $9,132 million. Operating profit grew by 12% to $8,934 million.

Compared with the second half of 2012, operating profit excluding loan impairment charges and operating profit were both up 19%.

Net interest income grew by $683 million, or 8%, to $8,969 million, reflecting the 9% rise in average interest-earning assets, improved loan spreads and increased returns from the life insurance funds portfolio. Compared with the second half of 2012, net interest income was up 4%.

Despite challenging conditions for the Treasury portfolio, they achieved a net interest margin of 1.84% – one basis point down and unchanged compared with the first and second halves of 2012 respectively.

Supported by balanced growth strategy, non-interest income reached $4,508 million – up 11% on the first half of last year and 34% on the second half.

Service enhancements and revenue diversification generated a broad-based 22% increase in net fee income to $2,936 million. Fee income from investment servicesrelated business registered strong growth on the back of an upturn in market sentiment, particularly in the first quarter. Compared with the second half of last year, net fee income rose by 10%.

Trading income grew by 3% to $1,204 million. Foreign exchange income was in line with a year earlier, with an increase in foreign exchange revenues offset by a reduction in income from funding swaps.

Income from securities, derivatives and other trading activities recorded a net gain compared with a net loss in the same period last year. Compared with the second half of 2012, trading income increased by 35%.