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Article: Hong Kong's Bank of East Asia reports 20 percent jump in first-half profit
- Article from:
- AP Worldstream
- Article date:
- August 3, 2005
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AP Worldstream
08-03-2005
Dateline: HONG KONG
Bank of East Asia Ltd., Hong Kong's largest locally owned bank, said Wednesday it posted a 20 percent increase in net profit for the first half of 2005, and that further growth is expected as it expands in China.
Net profit for the first six months of 2005 was 1.18 billion Hong Kong dollars (US$151 million; euro123 million), compared with HK$986 million in the same period of 2004.
Bank of East Asia said net interest income from its core lending operations declined to HK$1.72 billion (US$221 million; euro180 million) in the first half from HK$1.80 billion a year.
But the drop was offset by a doubling in gains from trading on its treasury desk, to ...