XN000022-1985-09-13 — Page 4

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FRIDAY, SEPTEMBER 13, 1985

MORTGAGE INTEREST RATES SET OUT

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A NOTICE ON THE INTEREST RATES FOR MORTGAGES OF FLATS IN THE HOME OWNERSHIP SCHEME AND THE PRIVATE SECTOR PARTICIPATION SCHEME IS PUBLISHED IN THE GOVERNMENT GAZETTE TODAY (FRIDAY).

THE NEW RATES WILL APPLY TO FLATS WHOSE MORTGAGES COME INTO EFFECT OR ARE DUE FOR A RECALCULATION OF INTEREST IN THE THREE- MONTH PERIOD BEGINNING SEPTEMBER 6, 1985.

A GOVERNMENT SPOKESMAN POINTED OUT THAT PARTICIPATING FINANCIAL INSTITUTIONS, HOWEVER, WERE AT LIBERTY TO CHARGE INTEREST PURSUANT TO THE LEGAL CHARGE AT A LOWER RATE THAN THOSE INDICATED IN THE NOTICE.

STEADY GROWTH IN HANG LUNG BANK BUSINESS

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THE BOARD OF HANG LUNG BANK LIMITED ANNOUNCES THAT FOR THE YEAR TO MARCH 31, 1985 THE GROUP MADE A LOSS OF $123 MILLION. THIS COMPARES WITH A LOSS OF $352 MILLION INCURRED IN THE PREVIOUS YEAR.

THERE HAS BEEN A STEADY GROWTH IN THE BANK'S BUSINESS, REFLECTING AMONG OTHER FACTORS CONTINUED CONFIDENCE IN THE BANK ITSELF, AND THIS HAS CONTRIBUTED TO THE IMPROVEMENT SHOWN BY THESE FIGURES.

CUSTOMERS DEPOSITS HAVE GROWN AND ADVANCES TO CUSTOMERS HAVE INCREASED.

THE BANK CONTINUES IN A HEALTHY LIQUID CONDITION. GROUP SHAREHOLDER'S FUNDS AT MARCH 31, 1985 TOTALLED $357 MILLION AND GROSS ASSETS $4 096 MILLION.

AGAINST THIS BACKGROUND, THE BOARD BELIEVES THAT, IN THE ABSENCE OF UNFORESEEN CIRCUMSTANCES, IMPROVEMENT WILL CONTINUE IN THE CURRENT YEAR.

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