Business

More loans, more provisions

PUBLISHED : Saturday, 04 September, 2004, 12:00am
UPDATED : Saturday, 04 September, 2004, 12:00am

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Asia Financial Holdings executive director Bernard Chan says he is confident that the company's ties with UFJ Holdings will be maintained despite a takeover bid for the Japanese firm. He was announcing bumper profits for his bank yesterday. Profit for the first half rose to $93.6 million after a 130 per cent increase in provisions to $17.7 million, which reflected a rapidly expanding loan portfolio.