Wing Lung Bank to pay for 45% of willingness impairment
Wing Lung Bank will be money-making this year, at the latest presentation of China Merchants Bank 2008 annual seminar, in order that the bank management.
2008, China Merchants Bank to a total of about 32 billion yuan to pay for 100% stake in Wing Lung Bank. By the enterprise surroundings, financial endeavour, for instance the consequence of impairment, Wing Lung Bank in 2008 a forfeit of 816 million yuan Hong Kong dollars. 53 out of 100 for premium acquisition formed part of the willingness of 10.18 billion yuan, China Merchants Bank 580 million yuan provision.
China Merchants Bank leader Ma Weihua said that the design in 2013 in the thriving culmination of strategic integration, making cross-border Yonglong with an benefit on the Hong Kong market in the world of integrated financial banks.
Vice head of China Merchants Bank, Wing Lung Bank, said Zhu Qi, self-confidence makes the Wing Lung Bank to profitability this year, the next three years to realise lucrative expansion in some pointers than the midpoint stage of the development in Hong Kong, China Merchants Bank commanded the next five years, the acquisition of Wing Lung Finance on worth for money.
Li Hao, vice president of China Merchants Bank, said the acquisition of Wing Lung Bank China Merchants Bank is a sub-acquisition, of which 47 percent stake in the second part of the premium part of the acquisition of about 8.7 billion yuan in the capital reserve can be offset in full; and through the The first part of the acquisition of 53% stake in the premium part of the formation of the goodwill impairment test, the end of last year in the provision of 580 million yuan. “The sum of two parts, 45% of all the goodwill has been offset, we have adopted more conservative measures, the level of impairment provision is not low.” Li said.
