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Wing Lung Bank will be profitable this year, at the recent performance of China Merchants Bank 2008 annual conference, so 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 leader of China Merchants Bank, Wing Lung Bank, said Zhu Qi, self-assurance makes the Wing Lung Bank to profitability this year, the next three years to accomplish money-making development in several signs than the mean grade of the commerce in Hong Kong, China Merchants Bank directed 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.