Financial and Banking News
ABC Profits Slip But Asset Growth Continues
Profitability at the ABC Group dropped during the second half of 1985, so that for the year as a whole a slight decline in net operating profit from $110mn in 1984 to $109mn was declared. Mid-year results had earlier indicated that profits were running 102 ahead of 1984's levels, reflecting in part the May 1985 acquisition of a 75% stake in Sun Hung Kai Bank Ltd in Hong Kong. SHK added about...