Wing Hang Bank profit up 22% in 2007

Wing Hang Bank Ltd<302>, a mid-tier Hong Kong lender, on Tuesday posted a 22% rise in net profit last year, boosted by increased net interest income.

In the 12 months ended Dec. 31, its net profit increased to HK$2.03 billion from HK$1.66 billion of the previous year, the company said in its statement filed to Hong Kong Stock Exchange, adding that its subsidiaries in Hong Kong and the mainland amounted to over 50.

The figure beats the median estimate of HK$1.87 billion made by 17 analysts in a Thomson Financial survey.

It announced the final dividend would be HK$2.47 per share, up from HK$2 a year earlier.