Financial Services
Goldman, Citi bankers abandon posts to cash in on biotech hype
Goldman, Citi bankers abandon posts to cash in on biotech hype
At least seven senior bankers and analysts have quit since December.
Life annuity scheme unveiled for senior citizens
Men will receive a monthly payout of $5,800 whilst women get $5,300.
Credit Suisse's Hong Kong unit ordered to pay $369.08m to settle hiring corruption probe
The bank reportedly made preferential hires to win business.
How can Hong Kong banks reconcile third party data sharing with cybersecurity?
Banks need robust cyber resilience strategies to plug risks.
Hong Kong's average IPO size shrunk 10% in the first half of the year
There were, however, double the number of listings as small to medium sized companies rushed to list.
Xiaomi raises $36.88b in IPO
The company reportedly priced the sale of 2.18 billion shares at $17 each.
Hang Seng Bank to use fintech in credit risk assessment by Q4
Fintech and big data will be used to evaluate loan applications.
Banks' bad loan ratio improves to 0.52% in 2017
Maintaining credit quality is no problem for the city’s top lenders.
What can Hong Kong banks gain from turning away from BPOs?
Managed services may just be the way to add further value for banking customers.
Hong Kong Exchange cracks down on backdoor listings
HKEX is also targeting companies that remain listed but do very little business.
Banks may lose $14.68m in net assets following HKFRS 9
Replacing the expected credit loss model is likely to shed off around 1% of net assets.
Hong Kong's blockbuster IPO year at risk from heating trade tensions
A liquidity crunch may force smaller firms to rake in less cash.
Investment holding firm DBA convicted of issuing misleading statement
The SFC claims that DBA's financial statement for the year ended 2012 did not follow listing rules.
Banks' cost to income ratios improve despite larger digital investments
The figure dipped from 47.9% in 2016 to 42.5% in 2017.
Non-bank Chinese exposure of Hong Kong banks doubles to 15% in 2017
Fitch, however, warns against the associated risks of closer ties.
Insurer FWD mulls Hong Kong IPO
Strategic acquisitions in the past five years have strengthened FWD’s foothold.
Citi joins Hong Kong's chatbot race with planned Facebook Messenger chatbot
Customers will soon be able to check account balance via the messaging app.
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