

The Hong Kong Mortgage Corporation Limited
Key Financial Information
| 2019 HK$’000 | 2018 HK$’000 | 2017 HK$’000 |
---|---|---|---|
FOR THE YEAR | |||
Net interest income | 523,991 | 536,209 | 507,578 |
Profit attributable to shareholder | 317,4614 | 126,5584 | 806,395 |
Loan purchases | 1,876,551 | 287,705 | 315,793 |
Debts issuance1 | 17,724,508 | 12,424,465 | 17,856,470 |
Net premiums written |
|
| |
– General insurance businesses | 466,215 | 565,739 | 417,076 |
– Annuity business | 1,630,827 | 2,780,240 | n.a. |
AT YEAR END |
|
|
|
Loan portfolio, net | 6,928,045 | 6,442,064 | 7,829,441 |
Debt securities issued | 39,710,963 | 37,292,877 | 34,840,706 |
Risk-in-force |
|
|
|
– Mortgage insurance2 | 23,075,987 | 19,723,956 | 17,588,701 |
– Reverse mortgage insurance3 | 11,239,454 | 9,644,152 | 6,875,721 |
OTHER STATISTICS |
|
|
|
Net interest margin | 1.0% | 1.1% | 1.1% |
Capital adequacy ratio | 30.2% | 26.8% | 21.0% |
Cost-to-income ratio | 58.7%4 | 86.0%4 | 26.8% |
Return on shareholder's equity | 2.1%4 | 0.9%4 | 8.6% |
Notes: 1. For debts with tenor of one year or above. 2. The risk-in-force excludes exposure that has been covered by quota-share reinsurance arrangement. 3. The risk-in-force includes the outstanding balance and undrawn commitment of a reverse mortgage loan, excluding exposure that has been covered by quota-share reinsurance arrangement. Undrawn commitment refers to the amount of expected future payout to the borrower based on the payment term. 4. For comparison purposes, after excluding an accounting loss for maintaining prudent statutory reserves based on actuarial assumptions for annuity business made by the HKMC Annuity Limited, a wholly-owned subsidiary of the HKMC, the adjusted attributable profit to shareholder, return on shareholder's equity and cost-to-income ratio for 2019 would be HK$443 million, 4.2% and 41.8% respectively (2018: HK$515 million, 5.1% and 36.7% respectively). |