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  • November 26, 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. 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. 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 ...

  4. 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 ...

  5. HSBC set for yuan services

    Posted Apr 28th 2004, 12:00am by Staff Reporter

    ... cities by the end of this year. Chinese corporations had 7.5 trillion yuan of local currency bank deposits by the end of last month. Financial institutions operating in the country reported ... Bei Hu Seven of HSBC's nine branches on the mainland have won approval to offer yuan banking services to local companies, a development that is expected to boost the global ...

  6. 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 ...

  7. Bankers concerned about costs of increased depositor protection

    Posted Jun 20th 2009, 12:00am by Staff Reporter

    ... Natalie Chiu The Hong Kong Association of Banks has expressed reservations about the increase in premiums needed to pay for the extension of the deposit protection scheme. The proposed lifting of the ceiling on Hong Kong's bank deposit protection to HK$500,000, from the previous cap of HK$100,000, could see banks pass premium costs on to depositors, association chairman ...

  8. Bank to review security system

    Posted Mar 12th 2009, 12:00am by Staff Reporter

    ... Phyllis Tsang Bank of East Asia will review and enhance the security system for its safety-deposit boxes after police revealed a gang had stolen millions of dollars in assets from one ... in safety-deposit-box areas - control of access and closed-circuit television. 'From the case information, it seems that bank was allowing several people in the safe-deposit-box area at the same ...

  9. Bank halts mainland yuan service

    Posted Apr 30th 2008, 12:00am by Staff Reporter

    ... Maria Chan Wing Hang Bank, one of the first local banks to offer a service making it easier for Hong Kong customers to hold yuan deposits on the mainland, has stopped offering the service ... with mainland banks because they pay much higher interest than Hong Kong banks pay on yuan or Hong Kong dollar deposits. Last night Bank of East Asia, which started one-stop mainland yuan deposit ...

  10. London Chinatown chief denies money laundering in HK

    Posted Oct 03rd 2007, 12:00am by Staff Reporter

    ... 2001, in the UK to transfer GBP91,000 to a Hong Kong bank account held by Cheong Lai-keen. But due to an error by a staff member of HSBC in London, the bank deposited Euro1,015,878 to Ms ... Judge David Thomas. Prosecuting barrister John Dunn alleged He had transferred the money - which was credited to him in a banking mistake - into a series of other accounts in the knowledge ...




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