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Finance: BOC Hong kong profits up
(HK Edition)
Updated: 2006-03-24 15:06
The overseas arm of Bank of China posted a 9 per cent increase in second-half
profit yesterday, beating expectations, on strong lending operations and a
HK$705 million gain from an accounting rule change.
BOC Hong Kong (Holdings) Ltd, which also said it is in talks to buy its
parent company's life insurance business, reported a 49-per cent increase in
trading income due to the adoptation of new accounting standards.
The bank, which has a market value of US$21.3 billion, said it earned HK$6.97
billion (US$894 million) in last year's second half, compared with HK$6.38
billion in the year-earlier period.
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