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  • April 19, 2014
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  1. HSBC to cut yuan deposit savings rates from today

    Posted Aug 09th 2011, 12:00am

    ... Enoch Yiu HSBC will cut its savings rate for yuan deposits to 0.25 per cent from today, down from 0.45 per cent. A bank spokesman said the cut was to move HSBC in line with the market as other banks had already made similar cuts in their yuan savings rates. Many local lenders cut their saving rates for yuan deposits in April after the People's Bank of China reduced ...

  2. Business - Banking & Finance - BANKING

    HSBC targets higher lending margins

    Posted Mar 10th 2014, 05:59am by KANIS LI

    ... the double-digit growth rate, according to Anita Fung Yuen-mei, chief executive of HSBC's Hong Kong office. Banks with the bulk of their funds as customer deposits suffered in the ultra-low interest ... profitability. Banks will remain cautious on liquidity flow and loan-deposit ratio Anita Fung, HSBC Net interest margins of Hong Kong retail banks fell nearly a third to 1.41 per cent from the beginning ...

  3. 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 ...

  4. Lenders raise deposit rates

    Posted Mar 31st 2006, 12:00am by Staff Reporter

    ... Maria Chan Leading lenders, including HSBC and Hang Seng Bank, have raised their time deposit rates but the adjustments mainly cover short-term accounts. HSBC and Hang Seng raised ... Chartered Bank lifted its interest rates for deposits of $150,000 but less than $500,000 held for one week to two months by 0.05 to 0.125 percentage point. The new rates now range from 2.75 per cent ...

  5. HSBC, Citi units slash yuan deposit rates

    Posted May 23rd 2009, 12:00am by Staff Reporter

    ... Maria Chan The mainland units of both HSBC Holdings and Citigroup have cut their yuan medium-term deposit rates by more than half - and well below the central bank's benchmarks ... market-driven under the influence of foreign banks. HSBC Bank (China) reduced its two-year time deposit rate to 1 per cent, compared with the People's Bank of China's base rate of 2.79 per ...

  6. Rich get richer on new time deposit rates

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

    ... Maria Chan Small depositors are once again losing out to those with larger deposits, as several leading lenders shift more aggressively towards a tiered deposit structure that rewards the 'haves' and penalises the 'have-nots'. Most leading banks yesterday adjusted their time deposit rates. HSBC and Hang Seng Bank lifted rates for most levels of deposits below $1 million ...

  7. Most coveted rental: the safety deposit box

    Posted May 02nd 2004, 12:00am by Chris Oliver

    ... Chris Oliver Don't bother dragging your valuables out from under the mattress just yet- because you'll face a wait of up to eight years to get your hands on a bank safety deposit box. Hong Kong banks have revealed that they have some of the highest occupancy rates for safety deposit boxes anywhere in the world. At Hang Seng Bank you'll pay $10,000 a year for its ...

  8. Business - Banking & Finance - STRATEGY

    HSBC retail revamp key to end drag of redress on profits

    Posted Apr 07th 2014, 04:38am by NICK EDWARDS

    ... Nick Edwards nick.edwards@scmp.com Banking giant's salary structure overhaul aims to cut risk of sales misdeeds and compensation payments, which remain a drag on earnings Retail revamp at HSBC to drive profit growth Redress is a word that comes up a lot in an interview with John Flint, the first he has given since taking over as HSBC's global head of retail banking ...

  9. Business - Banking & Finance - MONEY LAUNDERING

    US monitor says HSBC’s anti-money-laundering fixes leave ‘much work to be done’

    Posted Apr 02nd 2014, 03:51pm by Reuters

    ... “much work to be done”, federal prosecutors said in a court filing on Tuesday. The British bank paid nearly US$2 billion in penalties in December 2012 to resolve charges that it failed to stop hundreds of millions of dollars in drug money from flowing through the bank from Mexico, and it promised to fix the problems. The government had selected former New York prosecutor Michael ...

  10. Business - Banking & Finance - BANKING

    Brokers flee HSBC for Chinese investment banks in Hong Kong

    Posted Mar 11th 2014, 11:44am by George Chen; Kanis Li

    ... George Chen and Kanis Li Disputes over salaries prompt dozens of brokers to leave British lender for rivals in Hong Kong Disgruntled HSBC brokers flee to Chinese banks Dozens of former stockbrokers at HSBC have recently found new jobs at two rapidly expanding Chinese investment banks in Hong Kong after they left the British lender over disagreements on salaries. People familiar ...




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