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June 30, 2015 1:00 AM ET

Banks

Company Overview of Wing Lung Bank Limited

Company Overview

Wing Lung Bank Limited, together with its subsidiaries, provides banking and related financial services. Its Retail Banking segment is engaged in accepting various deposits, including savings accounts, current accounts, and fixed deposits; lending mortgage and personal loans; and providing wealth management services. The company’s Corporate and Commercial Banking segment offers advance of commercial and industrial loans, trade financing, hire purchase, and leasing; and remittance, auto-payroll, trustee, insurance, initial public offering, cash management, and credit card services. Its Treasury segment is involved in foreign exchange, money market, interbank market, and capital market activit...

45 Des Voeux Road

Central,  

Hong Kong

Founded in 1933

1,849 Employees

Phone:

852 2309 5555

Fax:

852 2810 0592

Key Executives for Wing Lung Bank Limited

Chief Executive Officer, Executive Director, Member of Management Committee and Member of Strategy Committee
Age: 54
Chief Financial Officer
Chief Risk Officer, General Manager, Executive Director and Member of Management Committee
Chief Information Officer
Company Secretary
Compensation as of Fiscal Year 2014.

Wing Lung Bank Limited Key Developments

EDS Wellness Holdings Limited Commences Legal Proceedings in the Court against Wing Lung Bank Limited and Hang Seng Bank Limited

The board of EDS Wellness Holdings Limited announced that it commenced legal proceedings in the Court on June 9, 2015 against Mr. Shum as the first Defendant, Wing Lung Bank Limited as the second Defendant and Hang Seng Bank Limited as the third Defendant for, amongst others, the following reliefs to recover the judgment debt under the Summary Judgment: Mr. Shum's interest in the properties and/or lands situate at House 4, The Baroque, Nos. 1-7 Kau To Shan Road, Shatin, New Territories; Ground Floor, No. 1 Kau To Path, Lot No. 838 in DD171, Shatin, New Territories; and Ground Floor, No. 1 Kau To Path, Lot No. 839 in DD171, Shatin, New Territories which have been charged in favour of the Company be sold without further reference to the Court by way of tender or public auction at the best price reasonably obtainable; the solicitors for the company shall have the conduct of the sale of the Properties by appointing an agent, to sell the Properties by way of tender or public auction; the company shall apply the sale proceeds from the sale of the First Property to pay the costs and expenses of effecting the sale; pay the costs of the June Proceedings; pay the outstanding indebtedness owed to Hang Seng Bank Limited as secured by a mortgage over the First Property; pay the judgment debt (together with interest) owed to the Company under the Summary Judgment; and pay the balance (if any) to Mr. Shum or into the Court or as the Court shall direct; the Company shall apply the sale proceeds from the sale of the Second Property and Third Property to pay the costs and expenses of effecting the above sale; pay the costs of the June Proceedings; pay the outstanding indebtedness owed to Wing Lung Bank Limited as secured by a mortgage and a second legal charge over the Second Property and the Third Property; pay the judgment debt (together with interest) owed to the Company under the Summary Judgment; and pay the balance (if any) to Mr. Shum or into the Court or as the Court shall direct; Such further and/or other directions as the Court shall deem fit; and the costs of the June Proceedings to the Company.

Wing Lung Bank Limited, Annual General Meeting, May 11, 2015

Wing Lung Bank Limited, Annual General Meeting, May 11, 2015. Agenda: To consider the final dividend for the year ended 31 December 2014.

Wing Lung Bank Limited Reports Earnings Results for Year Ended December 31, 2014

Wing Lung Bank Limited reported earnings results for year ended December 31, 2014. For the year, the group recorded a profit attributable to the shareholders of HKD 3,169 million, representing a year-on-year increase of 22.0%, which was mainly driven by the increase in net interest income. There was also a significant increase in non-interest income. During the year, net interest income amounted to HKD 3,897 million, representing an increase of 27.9% as compared with that in 2013, which was mainly attributable to the increase in average loan amount.

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