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  1. Top banks raise deposit rates

    Posted Apr 08th 2005, 12:00am by Louis Beckerling

    ... Louis Beckerling Hong Kong's top four deposit-taking banks have raised interest rates offered on fixed-term deposits, but, even after adjustments ranging from five to 25 basis points, the new rates remain well below those offered by smaller banks. The biggest bank, HSBC, lifted its fixed deposit rates by 25 basis points across the board. It raised annualised interest paid ...

  2. No free lunches on the menu as banks begin battle for deposits

    Posted Aug 27th 2005, 12:00am by Staff Reporter

    ... in a month- banks have kept up their campaigns to attract cheap deposits from which to fund gradually increasing loan demand. The pressure is most acute for lenders with smaller deposit bases with some having already raised fixed deposit rates in a bid to draw in new funds. Standard Chartered Bank this week announced, for instance, that it would offer 3.5 per cent interest on a six-month ...

  3. Big banks join fray over term deposits

    Posted Jul 15th 2005, 12:00am by Staff Reporter

    ... Kelvin Wong Hong Kong's big lenders have joined smaller competitors in the race to capture more term deposits by offering higher interest rates on new fixed accounts. Large banks take up the bulk of the city's deposit base. At the end of last year, Hang Seng Bank accounted for 12 per cent of the banking system's deposits. Smaller banks, on the other hand, have ...

  4. Citibank raises rate to lure term deposits

    Posted Aug 22nd 2005, 12:00am by Staff Reporter

    ... $100,000, tied up for six months, the US bank is offering the highest rate in the market, said observers. Fierce competition for deposits means that Hong Kong banks are looking to secure funding, ... rates of 3.5 per cent to 3.75 per cent for deposits over $1 million. Rising interest rates mean that banks need to lock in relatively low-cost funding while many are hoping to secure new ...

  5. Macau bank run wanes, with new deposits made

    Posted Sep 19th 2005, 12:00am by Freda Wan

    ... after the city's chief executive took measures to restore customers' confidence. In contrast to long queues of panicking customers seen on Friday and Saturday, the bank's branch at the Casino Lisboa, which opened for six hours yesterday afternoon, was visited only by occasional customers. Some even came to make new deposits. The run was triggered by allegations from the US ...

  6. Yuan bank rules relaxed to let firms hold deposits

    Posted Dec 05th 2005, 12:00am by Staff Reporter

    ... Maria Chan From today, merchants in seven industries can for the first time open yuan deposit accounts in Hong Kong as yuan banking liberalisation measures take effect. The relaxation of the eligibility criteria for yuan banking is expected to result in a measured increase in deposits of yuan at local banks. Following the People's Bank of China's approval of expanded services ...

  7. Central bank increases deposit rates

    Posted Aug 23rd 2005, 12:00am by Staff Reporter

    ... the central bank said in a statement posted on its website. The one-month US and Hong Kong dollar deposit rates will go up 0.25 percentage point to 1.25 and 1.125 per cent respectively, while the three-month deposit rates rise by 0.375 percentage point to 1.75 and 1.625 per cent, respectively. This is the third round of interest rate increases this year and the second since the central bank ...

  8. Two HK banks raise rates on term deposits

    Posted Feb 03rd 2005, 12:00am by Staff Reporter

    ... Kelvin Wong But local lenders play down prospect of across-the-board rise fuelled by US Fed Two Hong Kong banks moved to raise interest rates on term deposits yesterday ahead of a United ... for the same reason. Bank of East Asia, which begins the Hong Kong bank reporting season this afternoon, raised interest rates for one- to six-month fixed deposits of $30,000 to $400,000 by 10 basis ...

  9. Banking woes fuel scepticism over deposit insurance scheme

    Posted Jan 13th 2005, 12:00am by Staff Reporter

    ... each, with the possible exclusion of deposits by shareholders and senior managers of the failed banks as well as inter-bank deposits. Still uncertain is the coverage of foreign-currency ... Doubts cast over fund's ability to cope with massive industry crisis and ensure fairness, writes Bei Hu A deposit insurance scheme being considered on the mainland may have to run ...

  10. Banks cut rates for 3-month deposits

    Posted Apr 23rd 2005, 12:00am by Toh Han Shih

    ... Toh Han Shih Several small banks yesterday cut their three-month fixed deposit interest rates by up to 25 basis points in reaction to hot money flowing back into the market betting ... and Wing Hang banks were among those lenders to reduce their three-month fixed deposit rates by 25 basis points. Since March, most of the small banks have raised their prime rates 0.5 percentage ...




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