Hong Kong banks
Foreign currency deposits push Hong Kong deposits to a 1.2% rise in July
Hong Kong dollar deposits dipped, whilst foreign deposits rose.
Foreign currency deposits push Hong Kong deposits to a 1.2% rise in July
Hong Kong dollar deposits dipped, whilst foreign deposits rose.
Hong Kongers trust ‘Big Tech’ more than banks for banking services: survey
86% said they trust big tech as much as or more than banks.
Rising interest rates to be Hong Kong banks’ saving grace
NIMs are expected to rise and outweigh asset quality deterioration in the near term.
Is Hong Kong’s role as offshore financial center under threat?
Inflows from Mainland China will support the city, but issues are challenging this role.
HKMA records 0.4% increase in total deposits in December 2021
Local currency deposits, meanwhile, decreased by 0.8%.
Hong Kong bankers’ exodus accelerates amidst strict quarantine rules: report
UBS recently shifted to two senior bankers and might move eight more to China.
Banks welcome launch of Wealth Management Connect in Guangdong-Hong Kong-GBA
BEA highlights hiring plans, whilst Citi says it will offer 100 types of wealth products under WM Connect.
HSBC exec Diana Cesar is new Hang Seng Bank chief
She will assume the post starting 1 September.
Bank of East Asia profit rebounds nearly 75% to $2.67b in H1
This increased from $1.53m in the same period last year.
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.
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.
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Commentary
Ginza-style commercial building in neighbourhood areas attracts local consumption