Liu Cong Hing Bank reports net profit of $398m

Updated at 6.20pm: Hong Kong bank Liu Chong Hing Bank reported a net profit of $398 million in the year ending December 31, 2005.

This was a 10.6 per cent rise on the $359.9 million profit in 2004.

Turnover in 2005 rose to $752.9 million from $649.5 million.

The bank announced a final dividend of 42 cents, compared with 40 cents in 2004.

Liu Chong Hing Bank is a small lender bank in Hong Kong. It has 35 outlets in the territory and three in the mainland and overseas.

Liu Chong Hing?s shares rose 15 cents to $14.7 on the Hong Kong stock exchange on Friday afternoon.