Hang Seng profit falls 23%
02-03-2009
Hang Seng Bank, a sister bank of HSBC, has posted a 23-percent fall in profit for last year - to HK$14.1 billion. Analysts polled by Reuters had forecast earnings of HK$15.5 billion. The bank has maintained its final dividend at HK$3 a share - the same as in the previous year. The bank has also confirmed that Margaret Leung will become its first female chief executive officer. She will take over from Raymond Or, who's retiring in May. Hang Seng Bank shares fell 3 percent today to HK84-25.
