Wing Hang net at $271m

WING Hang Bank has reported a 34 per cent profits increase to $271 million for last year.

The bank, 49 per cent owned by Bank of New York, saw total assets increase 13 per cent to $18.09 billion during the year.

Total deposits rose by 13 per cent to $16.14 billion, and total lending climbed 14 per cent to $9.48 billion.

Chairman Tsang Wing-hong called the result satisfactory, adding that loan growth had moderated in the second half of the year in response to the government's objective of cooling down the overheated property market.