BANK OF B.C. REVISES SHARE PAYOUT ESTIMATE

  Bank of British
  Columbia said it revised its estimate of shareholder
  distributions from last November's sale of most of the bank's
  assets to HongKong Bank of Canada to between 65 cts and 1.15
  dlrs a share from 55 cts to 1.20 dlrs a share.
      The bank said the estimate could rise to between 1.30 dlrs
  and 1.80 dlrs a share if the full pension surplus is obtained.
  It said it did not know when distributions would be made.
      It earlier reported that operating profit for first quarter
  ended January 31 fell to 273,000 dlrs from 1.7 mln dlrs the
  previous year.
      For full-year 1986 ended October 31, the bank posted an
  operating loss of 4.4 mln dlrs against year-earlier profit of
  7.5 mln dlrs. The bank also posted a 66 mln dlr extraordinary
  loss in fiscal 1986.
      Bank of British Columbia sold most of its assets last
  November to HongKong Bank Canada, a unit of &lt;HongKong and
  Shanghai Banking Corp>, of Hong Kong, for 63.5 mln dlrs.
      It said efforts to wind up the bank's affairs were
  proceeding as quickly as possible.
      The bank said it expected to report positive earnings in
  future periods, barring unforeseen circumstances.
      Loan losses, which the bank previously said figured in its
  move to sell off most of its assets, rose to 105.7 mln dlrs in
  fiscal 1986 from year-earlier 36.1 mln dlrs. The bank said 31.1
  mln dlrs of the 1986 total represented downward adjustments to
  its portfolio of syndicated sovereign risk loans as required
  under the sale to HongKong Bank.
      Since November 27, the bank has confined activities to the
  winding up of affairs, Bank of British Columbia said.
  

