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Press Releases

HKMC’s Financial Results Highlights for 2015

The Hong Kong Mortgage Corporation Limited (HKMC) today (Monday) announced the highlights of its audited financial results for 2015 as follows:

2015 Financial Results Highlights

  • Consolidated profit after tax was HK$725 million (2014:
    HK$746 million)
  • Return on shareholders’ equity was 8.1% (2014: 8.4%)
  • Cost-to-income ratio was 25.7% (2014: 24.3%)
  • Capital adequacy ratio was 21.9% as at 31 December 2015 (31 December 2014: 23.5%)
  • Dividend was HK$725 million (2014: HK$350 million)
  • 

2015 Business Performance Highlights

Asset Purchase

  • Purchased HK$337 million loan assets (2014: HK$245 million)
  • Outstanding principal balance of the loan portfolio was HK$11.5 billion at the end of 2015 (2014: HK$15.6 billion)


Debt Issuance

  • Issued in total HK$14 billion corporate debts1  (2014: HK$13.9 billion), being one of the most active issuers in Hong Kong.  The HKMC issued 30-year bonds totalling HK$1 billion for the first time to support potential new fixed-rate businesses
  • Outstanding balance of debt securities was HK$33.5 billion at the end of 2015 (2014: HK$33.3 billion)
  • Credit ratings of AAA from Standard & Poor’s and Aa1 from  Moody’s, same as the ratings of the HKSAR Government
  • 

Mortgage Insurance Programme (MIP)

  • New mortgage loans drawn down amounted to HK$17.2 billion (2014: HK$16  billion)
  • 88% of the loans drawn down  (in terms of the loan amount) were secured on properties in the secondary market, demonstrating the importance of the MIP to homebuyers in the secondary market
  • 

SME Financing Guarantee Scheme 

  • Approved about 1,000 applications under the Special Concessionary Measures (i.e. 80% guarantee products) with a total loan amount of approximately HK$3.4 billion in 2015, of which 92% of the benefitted borrowers were small enterprises with less than 50 employees

Reverse Mortgage Programme

  • Approved 363 applications, with an average property value of HK$5.7 million and average monthly payout of HK$16,200

Microfinance Scheme

  • Approved 21 applications with a total loan amount of HK$4.53 million

Premium Loan Insurance Scheme

  • Launched in mid-September and there were 3 applications approved up to end of the year, with an average property value of HK$4.75 million and average lump-sum payout of HK$1.2 million

Further details of the HKMC’s consolidated financial results and financial review for 2015 are set out at Annex.

 

 

The Hong Kong Mortgage Corporation Limited
25 April 2016


1 For debts with tenor of one year or above.

Last revision date: 25 April 2016
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