| Abstract | In August 1996, average interest earning assets were up a surprising 16 per cent year-on year, with growth particularly strong in Hong Kong and the Asia Pacific. In Hong Kong, net interest margins - the difference between the cost of funds and what banks charge borrowers - is widened. Profits of the Hongkong Bank rose 25 per cent to a net $9.6 billion - helped by an eight per cent surge in average deposits, with savings accounts increasing at a faster rate than time deposits spelling out cheaper money for the bank. The 61.5 per cent owned Hang Seng Bank fairly steamed along with profits up 34 per cent to $4.35 billion. |
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