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  • August 24, 2014
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  1. Business - Banking & Finance - EARNINGS

    HSBC and StanChart pin growth hopes on rate rises

    Posted Aug 11th 2014, 03:56am by DON WEINLAND

    ... the two banks posted disappointing, albeit widely anticipated, declines in profits last week. HSBC reported a 12 per cent drop in profits before tax in the first half to US$12.3 billion. Standard ... banks. But Standard Chartered chief executive Peter Sands and his HSBC counterpart, Stuart Gulliver, would like investors to wait as the banks tiptoe through a period of historically low interest ...

  2. 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 ...

  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. Business - Banking & Finance - EARNINGS

    HSBC shares rally even as compliance costs bite

    Posted Aug 04th 2014, 10:45pm by DON WEINLAND

    ... difficult to achieve given the size of the bank’s deposit base. “Can you induce growth in a balance sheet with US$1.3 trillion in deposits with these conditions?” Arun Melmane, a London-based ... Don Weinland don.weinland@scmp.com With first-half profit falling to miss market expectations, the bank will look for savings through job cuts and grow its mainland operations HSBC feels ...

  5. 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 ...

  6. 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 ...

  7. 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 ...

  8. 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 ...

  9. Glitch closes all HSBC deposit machines

    Posted Apr 11th 2004, 12:00am by Patsy Moy

    ... Patsy Moy HSBC has been forced to suspend services at its 104 instant deposit machines after a technical problem meant customers who used the service on Friday saw their money 'disappear'. After using the machines, customers normally see the deposit credited to their account immediately. HSBC halted the service on Friday after spotting a 'technical difficulty'. ...

  10. Business - Banking & Finance - BANKING

    HSBC blames red tape for 12 per cent drop in profits

    Posted Aug 04th 2014, 04:59pm by DON WEINLAND

    ... red tape hurt its business Banking giant HSBC said yesterday that group profits before tax fell to US$12.3 billion in the first half compared to a year earlier, down 12 per cent and worse than analysts' expectations. Underlying revenue was down a more modest 4 per cent year on year at US$31.36 billion, and chairman Douglas Flint said the bank continued to make strenuous efforts to reshape ...




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