Well Link Bank records MOP46.4mln in profits for Jan-Sept 2019

Well Link Bank as recorded a total of MOP46.4 million (US$5.7 million) profit for the first nine months of this year, the group’s financial report published at Official Gazette indicates.

The results are an improvement after the bank recorded MOP15.3 million in losses during the same period of last year.

Previously Novo Banco Asia S.A. (Novo Banco Asia), the bank was purchased by Hong Kong incorporated brokerage firm Well Link Group Holdings Limited in 2017 and renamed Well Link Bank since October, 2017.

The bank opened its first branch in Macau in July, 2018, with its second branch opening in January, 2019.

In total, the bank recorded some MOP223.2 million in revenue and MOP176.8 million in expenses between January and September of this year.