Wing Lung shows 21pc profit rise

WING Lung Bank, a 28-branch medium-sized bank, has announced a 21 per cent increase in profit for last year, to $472.8 million from $391.1 million.

Final dividend was $1.32 a share. A bonus issue of one share for every five shares held was declared.

Coupled with the interim dividend of 40 cents, the total payout for the year would be $1.72, only a 2.38 per cent increase over the previous year.

''The business of the bank remained steady last year,'' the company said.

Total deposits and other accounts grew 20.1 per cent to $26.3 billion. Total assets increased 19.9 per cent to $28 billion.

The bank is developing automated services to meet the needs of customers.