MONDAY, MAY 11, 1992
2
CLOSURE OF BAGUIO VILLA BLOCK 26
THE BUILDINGS ORDINANCE OFFICE OF THE BUILDINGS AND LANDS DEPARTMENT OBTAINED A COURT ORDER THIS (MONDAY) MORNING FOR THE CLOSURE OF BLOCK 26 OF BAGUIO VILLA IN POKFULAM,
THE BUILDING WILL REMAIN CLOSED UNTIL SUCH TIME AS THE GEOTECHNICAL ENGINEERING OFFICE OF THE CIVIL ENGINEERING DEPARTMENT HAS ADVISED THAT THERE IS NO FURTHER RISK TO THE BUILDING.
ASSISTANCE FOR SOUTHERN DISTRICT RESIDENTS
SOUTHERN DISTRICT RESIDENTS WHO NEED ASSISTANCE IN THE WAKE OF RECENT LANDSLIPS AND FLOODINGS IN THE DISTRICT CAN CONTACT THE DISTRICT OFFICE FOR INFORMATION,
PROVIDING
TEMPORARY
THE OFFICE WILL ALSO CONSIDER ACCOMMODATION TO THOSE IN NEED AND WILL HELP RESIDENTS APPLY FOR CHARITABLE RELIEF FUNDS.
ENQUIRIES CAN BE MADE ON 551 0111 DURING OFFICE HOURS.
COMMISSIONER OF BANKING'S ANNUAL REPORT 1991
* * * * *
THE COMMISSIONER OF BANKING, MR DAVID CARSE, NOTED IN HIS FIRST ANNUAL REPORT TO THE GOVERNOR IN COUNCIL THAT 1991 WAS AN EXCEPTIONALLY PROFITABLE YEAR FOR THE BANKING INDUSTRY.
REVIEWS THE
THE REPORT, WHICH WAS PUBLISHED TODAY (MONDAY), PERFORMANCE OF THE BANKING INDUSTRY AS WELL AS SUPERVISORY DEVELOPMENTS IN 1991.
SPEAKING AT A PRESS CONFERENCE, MR CARSE SAID: "FAVOURABLE ECONOMIC CONDITIONS IN HONG KONG AND A WIDENING OF DOMESTIC MARGINS HAVE HELPED TO BOOST THE PROFIT GROWTH OF AUTHORISED INSTITUTIONS.
** "A NUMBER OF INSTITUTIONS WERE ABLE TO PUBLISH PROFIT INCREASES OF 30% OR MORE IN 1991".
MR CARSE SAID THE HONG KONG FINANCIAL SYSTEM HAD AGAIN DEMONSTRATED IN 1991 ITS ROBUSTNESS AND RESILIENCE BY BEING ABLE TO ABSORB THE EFFECTS OF THE FAILURE OF A SIGNIFICANT RETAIL BANK, BANK OF CREDIT AND COMMERCE HONG KONG (BCCHK) AND THE TEMPORARY LOSS OF CONFIDENCE BY SOME DEPOSITORS IN SEVERAL OTHER BANKS IN THE AFTERMATH OF BCCHK'S CLOSURE.
/HE SAID