Financial Services
Bank of East Asia profit rebounds nearly 75% to $2.67b in H1
Bank of East Asia profit rebounds nearly 75% to $2.67b in H1
This increased from $1.53m in the same period last year.
SFC vets 120 listing applications in Q2
This comes as the commission imposes stricter review on applications.
Cathay, OpenRice offer one mile for every $4 cash payment
The First 50,000 members of Asia Miles and Marco Polo Club can get up to 200 extra miles.
Practitioners optimistic over HK’s finance industry in next three years
Around 56% of industry practitioners are positive about the prospect of the sector.
LeoGroup enters merger to form US$4.3b global wealth advisor
The Leo Wealth merger also involved The Capital Company and BFT Financial Group.
SFC Executive Director steps down
SFC’s Brian Ho will be retiring as Executive Director – Corporate Finance.
StanChart HK, Sintali-SGS partner to boost EDGE green building standard
The EDGE certification provides a path for buildings to achieve carbon neutrality.
Hang Seng Bank profit drops 4% to $8.76b in H1
The bank linked this to macroeconomic conditions that put pressure on its net interest margin.
Total loans rise 4% in June: HKMA
This was partially due to IPOs during the month.
More SMEs find credit approval eased in Q2: Survey
Some 72% of SMEs perceived banks’ credit approval stance as easier.
Binance Labs Announces Strategic Investment in NFKings, NFT Creatives and Production Company
Binance Labs, the venture capital arm and incubator of Binance, today announced its strategic investment in NFKings, a leading NFT creatives and...
Ping An launches digital RMB insurance policies in Shenzhen
This insurance policy provides compensation to medical workers for COVID-19 and accidental death.
HK’s wealth management business growth may attract China’s onshore investors
Onshore investors from China currently accounts for 10% of the asset and wealth management business in 2020.
Asset and wealth management business grows 21% to US$4.5t
The growth was attributed to the strong net fund inflows in 2020.
East Asia-Pacific central banks go green through Asian bond fund
This is aimed at further establishing local currency-denominated green bond markets in the region.
Banks’ credit losses to revert to pre-COVID levels ahead of end-2022
It will likely decline faster, in light of the anticipated strong economic growth in the city.
HKMA appoints Donald Chen as new executive director
This will take effect on 1 November this year.
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