Wing Lung Bank to purchase 45% of generosity 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 purchase 100% stake in Wing Lung Bank. By the enterprise natural environment, buying into, for example the influence of impairment, Wing Lung Bank in 2008 a decrease of 816 million yuan Hong Kong dollars. 53 per hundred for premium acquisition formed part of the generosity of 10.18 billion yuan, China Merchants Bank 580 million yuan provision.
China Merchants Bank head Ma Weihua said that the arrange in 2013 in the winning windup of strategic integration, making cross-border Yonglong with an superiority on the Hong Kong market in the world of integrated economic 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 leader of China Merchants Bank, said the acquisition of Wing Lung Bank China Merchants Bank is a sub-acquisition, of which 47 per hundred stake in the second part of the premium part of the acquisition of about 8.7 billion yuan in the capital book can be counteract in full; and through the The first part of the acquisition of 53% stake in the premium part of the formation of the generosity impairment check, the end of last year in the provision of 580 million yuan. “The addition of two components, 45% of all the generosity has been counteract, we have taken up more cautious assesses, the grade of impairment provision is not low.” Li said.
Discussion Area - Leave a Comment
You must be logged in to post a comment.