Hang Seng Bank, the Hong Kong-headquartered bank 62 per cent-owned by HSBC Holdings, saw its net earnings in the first half of 2013 double from the year-earlier period to HK$18.5 billion ($2.4 billion).

The result was helped by a one-time gain of HK$9.52 billion after deciding to the accounting classification its 10.9 per cent stake in Industrial Bank as a financial investment, from an associate. Not including this one-off gain, Hang Seng still saw a 27 per cent rise to its net profit for the six months to 30 June.

Net interest income, the difference between its lending gains and its expenses on deposits, at its core lending business was up 8.2 per cent to HK$8.97 billion. Net fee income, from services like mutual funds and credit cards, also grew 22 per cent to HK$2.94 billion. 

Profit before tax at its retail banking and wealth management business figured at HK$4.5 billion -- a good increase from HK$3.9 billion from the half-year to 30 June 2012 and HK$3.96 billion in the half-year to 31 December 2012.

Hang Seng Bank is one of the largest banks in Hong Kong.