Financial Services
China reopening to lift Hong Kong banks’ earnings: Fitch
Fitch Ratings expect higher net interest income and NIM.
Composite interest rate rises to 2.17% in January
It is because of increased weighted funding costs for deposits.
Property authority issues note to improve transparency of financing plans for homebuyers
The authority reminded purchasers that only written agreements are binding.
Gov’t offers $800m of tokenized green bonds
It is under the government green bond programme.
Hong Kong govt appoints advisers for attracting firms
The new members will help the Financial Secretary plan and compete for high-potential enterprises.
Citigroup offering $2.35b in cash-settled exchangeable bonds to AIA Group
The bonds are due on 26 February 2026.
Foreign currency reserves hit US$436.9b in January
It expanded from the US$436.9b record in December.
HKMA raises its base rate to 5.00%
The new rate took effect on 2 February.
HK is 7th most crypto-ready market in the world
The city is home to 251 crypto-based companies.
Exchange Fund posts investment loss of $202.4b in 2022
It also ended the year with a negative investment return of 4.4%.
Hong Kong banks offer up to 30% salary raise amidst talent crunch
Talents for in-demand roles can clinch salary increments as high as 30%.
Credit and charge card payments to exceed $800b in 2026
The market is expected to grow at a CAGR of 3.9% between 2022-2026.
Citi entices Hong Kong’s ultra-wealthy with first-ever Global Wealth Centre
The 10,000-square-foot space is staffed by senior bankers and specialists.
Greater Bay Area SMEs show ‘strong appetite’ for financial services
Many SMEs are underbanked, Bain & Company found.
6 in 10 SMEs plan to invest over 15% of their revenue within GBA: survey
Enterprises are highly optimistic about GBA’s economic growth potential.
Hang Seng Bank raises prime rate to 5.625%
The bank will also be raising its savings rate by 0.625% per annum.
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