Bank Of East Asia Posts 3.2% Rise In 2011 Net Profit

Bank Of East Asia Ltd (OTC: BKEAY) posted a 3.2% rise in its 2011 net profit.

Bank Of East Asia's net profit for the period surged to HK$4.36 billion (US$565 million), up from HK$4.22 billion, in the year-ago period. However, analysts were expecting a net profit of HK$4.44 billion.

The bank's net interest income from core lending operations surged 23% to HK$9.26 billion from HK$7.54 billion. Its non-interest income declined 3.7% to HK$3.45 billion from HK$3.58 billion.

Bank of East Asia proposed a second interim dividend of HK$0.51 per share, versus a final dividend of HK$0.56.