Hong Kong’s securities industry surged 56% year-on-year in total net profits to HK$44.4 billion (US$5.7 billion) in 2024, boosted by a marked increase in asset management and security commission incomes, according to the Securities and Futures Commission (SFC).
The net profit growth came on the back of an 11% increase in total income to HK$222.6 billion, which outpaced a 4% rise in overheads. The total transaction value of all securities dealers and securities fanciers increased 34% last year to HK$144.1 trillion, the SFC says in a report.
The financial regulator notes the industry showed “remarkable resilience” in financial performance last year.
The city’s securities industry registered a 25% increase in net profit to HK$28.5 billion in 2023.
“Our financial industry has shown resilience and adaptability amid global volatility, and it is even more encouraging to see that firms reported higher profits in 2024 with diversified income streams,” Eric Yip, executive director of intermediaries of the SFC, says in the report.
The industry recorded broad-based growth across various income categories including an 18% increase in net securities commission income and a 14% increase in asset management income, according to the report.
