Public Financial : Annual Results for the Year Ended 31 December 2018

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock code: 626; Website:www.publicfinancial.com.hk)

ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018

The Board of Directors (the "Board") of Public Financial Holdings Limited (the "Company") is pleased to announce the consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 December 2018 with comparative figures as follows:

CONSOLIDATED INCOME STATEMENT

Year ended 31 December 2018 2017

NotesHK$'000 HK$'000

Interest income	8	1,881,356	1,760,222
Interest expense	8	(478,913)	(386,590)
NET INTEREST INCOME	1,402,443	1,373,632
Other operating income	9	231,054	226,908
OPERATING INCOME	1,633,497	1,600,540
Operating expenses	10	(870,928)	(852,440)
Changes in fair value of investment properties	21,679	14,341
OPERATING PROFIT BEFORE CREDIT LOSS
EXPENSES/IMPAIRMENT ALLOWANCES	784,248	762,441
Credit loss expenses/impairment allowances	11	(162,046)	(146,093)
OPERATING PROFIT AFTER CREDIT LOSS
EXPENSES/IMPAIRMENT ALLOWANCES	622,202	616,348
Share of profit of a joint venture	-	102
PROFIT BEFORE TAX	622,202	616,450
Tax	12	(111,724)	(112,936)
PROFIT FOR THE YEAR	510,478	503,514

*

For identification purpose only

Year ended 31 December 2018 2017

Notes
Owners of the Company	510,478	503,514
EARNINGS PER SHARE (HK$)	14
Basic	0.465	0.459
Diluted	0.465	0.459

HK$'000 HK$'000

ATTRIBUTABLE TO:CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 December

2018	2017
HK$'000	HK$'000
PROFIT FOR THE YEAR	510,478	503,514
OTHER COMPREHENSIVE INCOME FOR THE YEAR
Other comprehensive income to be reclassified to profit or loss in
subsequent periods:
Exchange differences on translating foreign operations, net of tax	(46,826)	68,995
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	463,652	572,509
ATTRIBUTABLE TO:
Owners of the Company	463,652	572,509

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

ASSETS
Cash and short term placements
Placements with banks and financial institutions maturing
after one month but not more than twelve months
Derivative financial instruments
Loans and advances and receivables	15
Available-for-sale financial assets
Equity investments at fair value through
other comprehensive income
Held-to-maturity investments at amortised cost	16
Held-to-collect debt securities at amortised cost	16
Investment properties
Property and equipment
Land held under finance leases
Interest in a joint venture
Deferred tax assets
Tax recoverable
Goodwill	17
Intangible assets
Other assets
TOTAL ASSETS
EQUITY AND LIABILITIES
LIABILITIES
Deposits and balances of banks and
other financial institutions at amortised cost
Derivative financial instruments
Customer deposits at amortised cost
Certificates of deposit issued at amortised cost
Dividends payable
Unsecured bank loans at amortised cost
Current tax payable
Deferred tax liabilities
Other liabilities
TOTAL LIABILITIES
EQUITY ATTRIBUTABLE TO OWNERS OF
THE COMPANY
Issued capital
Reserves	18
TOTAL EQUITY
TOTAL EQUITY AND LIABILITIES

31 December	31 December
2018	2017
Notes	HK$'000	HK$'000
3,953,773	4,872,533
1,556,342	1,514,095
2,541	4,317
29,877,579	29,582,660
-	6,804
6,804	-
-	5,671,749
6,202,949	-
345,715	328,739
145,090	132,579
676,073	634,368
-	-
41,338	24,526
1,222	830
2,774,403	2,774,403
718	718
166,343	228,398
45,750,890	45,776,719
572,712	1,123,792
7,275	1,696
35,284,322	33,984,095
-	753,293
186,646	175,667
1,444,614	1,581,852
15,298	38,823
36,350	33,579
455,863	462,671
38,003,080	38,155,468
109,792	109,792
7,638,018	7,511,459
7,747,810	7,621,251
45,750,890	45,776,719

CONSOLIDATED STATEMENT OF CHANGES IN EQUITYTOTAL EQUITYYear ended 31 December 2018 2017

Notes

HK$'000 HK$'000

As at 1 January (Reported)	7,621,251	7,279,305
Impact of adopting HKFRS 9	5	(95,551)	-
Restated opening balance under HKFRS 9	7,525,700	7,279,305
Profit for the year	510,478	503,514
Other comprehensive income in translation reserve	(46,826)	68,995
Total comprehensive income for the year	463,652	572,509
Dividends declared on shares	13(a)	(241,542)	(230,563)
Balance at the end of the year	7,747,810	7,621,251