Darius Baruar
May 26, 2025 05:49
HKM (Hong Kong Mortgage Corporation Limited) presented its financial results in 2024, referring to the main achievements and tasks of asset purchase, debt issuance and mortgage insurance.
HKM (Hong Kong Mortgage Corporation Limited) announced its financial results in 2024 and presented a year of strategic initiative and market tasks. According to the Hong Kong monetary authorities, HKMC continued to support Hong Kong’s economic stability and promoted wider housing ownership despite the increasingly complex economic environment.
Business highlight
In 2024, HKMC acquired $ 3.9 billion in loan assets, and in 2023, the noteworthy increase in Hong Kong was purchased for $ 5.2 million in a $ 5.2 million loan from the SME financial guarantee system (SFG) and a dedicated 100% loan guarantee system (DLGS). The second issuance of infrastructure loan support securities is US $ 433.3 million, diversifying its portfolio in various sectors.
Debt issuance and credit rating
HKMC exceeded Hong Kong’s $ 982 of the previous year and strengthened its status as a major issuer of the Hong Kong dollar corporate bonds, issuing a $ 135 billion Hong Kong dollar, which surpassed $ 98.3 billion in Hong Kong. The issuance included a 1.2 billion Hong Kong dollars from multi -tenor HKD benchmark bonds, which included the largest HKD public bond trading. The company matched the strong credit rating of AA+and MOODY’s AA3 with the Hong Kong SAR government in S & P Global Ratings.
Mortgage and loan program
The Mortgage Insurance Program (MIP) has been promoting $ 47 billion in Hong Kong with new loans and 56%in the secondary market real estate. Since 1999, MIP has been supporting about 235,000 households with a total of $ 869.8 billion. In accordance with the SME financial guarantee system, more than 27,400 applications were approved for 80% guarantee products, resulting in a total of $ 118.4 billion loans.
Financial performance
Despite the integrated loss of $ 418 million in Hong Kong, the loss of $ 260 million in Hong Kong last year increased, but the adjustment of HKMC after tax was $ 770 million. This adjustment excludes pension business and market volatility on the reverse mortgage sector. The company’s capital adequacy rate was 19.9%, much higher than the minimum requirements of 8%.
Strategic outlook
HKMC, which focuses on prudent pre -funding strategies and strong communication with the investment community, is still ready to explore financial turbulence. Strategic initiatives, including the development of retirement planning markets, continue to support key missions and social goals.
For more information, the 2024 annual report is provided on the official website of HKMC.
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