Financial and Banking News

REGIONAL BANKING

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...