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September 02, 2005

Asia Financial Results Marred by High Provisions

ACB.gif

Asia Financial Holdings (662.HK) reported 1H05 earnings last evening down 14% YoY due largely to its Asia Commercial Bank unit.

ACB's income fell by 29% on higher provisions for borrower Moulin Global Eyecare Holdings, which has gone into liquidation.
NIM also fell by 33bps despite double-digit loan growth.

* HK Exchange Results Filing
* HK Standard Article

Posted by The Banker at September 2, 2005 07:09 PM

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