Company Profile For Wing Hang Bank Limited

Wing Hang Bank Limited (0302.HK) (Hong Kong Stock)

sector: Financials · industry: Banks ·

As of 9:59am IST

81.80HKD

Price Change

-1.60

Percent Change

-1.92%

Analyst Recommendations

Overview

Wing Hang Bank, Limited (the Bank) is a Hong Kong-based holding company engaged in commercial banking and related financial services. The Bank operates in four segments: Retail banking, Corporate banking, Treasury activities and Other business. Retail banking activities include acceptance of deposits, residential mortgages, hire purchase and consumer loans. Corporate banking activities include advance of commercial and industrial loans, trade financing and institutional banking. Treasury activities include foreign exchange services, management of investment securities and trading activities. Other business activities include insurance businesses, stockbroking activities and services for retirement schemes. The Bank has a network of 41 branches in Hong Kong.

Quick Financial Synopsis

BRIEF: For the six months ended 30 June 2009, Wing Hang Bank, Limited's interest income decreased 37% to HK$1.96B. Net interest income after LLP decreased 15% to HK$1.08B. Net income decreased 45% to HK$512.6M. Net interest income reflects a decrease in interest income arising from financial assets and higher loan loss provisions. Net income also reflects higher depreciation expenses and a rise in realised losses on financial instruments.