Chong Hing Bank Limited provided consolidated earnings guidance for the six months ended June 30, 2017. The Board currently expects a decline in the group's net profit before taxation, in the region of approximately 16%, for the six months ended 30 June 2017, while the overall operating profit of the group before impairment allowances is expected to remain largely the same as the corresponding period last year. The expected decline is mainly attributable to the preliminary assessment of (i) an increase in impairment allowances on loans and advances made during the first six months of 2017 in the region of HKD 180 million mainly due to one credit relationship; and (ii) a translation loss of approximately HKD 25 million from the non-Renminbi net monetary assets maintained in the Mainland branches whereas the corresponding translation gain from consolidation is recorded under the other comprehensive income, and a translation loss of approximately HKD 62 million arising from the translation of Renminbi net monetary liabilities at the Head Office due to the appreciation of Renminbi in the first half of 2017.