Hang Seng Full-Year Profit Climbs 14% as Fee Income Rises
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Hang Seng Bank Ltd., the Hong Kong-based lender backed by HSBC Holdings Plc, posted a 14 percent increase in full-year profit as fee income advanced and costs related to bad loans dropped.
Net income rose to HK$14.9 billion ($1.9 billion), or HK$7.80 a share, from HK$13.1 billion, or HK$6.87, a year earlier, according to a filing to the Hong Kong Stock Exchange today. That beat the HK$14.5 billion average of 10 estimates compiled by Bloomberg.