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  • September 20, 2014
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  1. Four arrested over mortgage fraud

    Posted Jul 12th 2006, 12:00am by Agnes Lam, Clifford Lo

    ... for conspiracy to defraud in an operation against a mortgage fraud syndicate alleged to have cheated a bank out of $11 million in two separate mortgage applications. The arrests were made on Monday ... across the city and seized fake identity cards and papers including conveyancing documents. Mr Tsang said that to prevent similar mortgage fraud, banks should do more checking and that people ...

  2. 460m yuan fraud probe

    Posted Apr 15th 2009, 12:00am by Staff Reporter

    ... (HK$522.37 million) loan fraud case, Caijing magazine reported yesterday. A regulatory taskforce is at the bank examining risk control procedures while police are investigating the eight bank ... the existing systems and fixing the loopholes, a regulatory official was quoted as saying. In November, a customer applying for a housing mortgage loan found that someone had used his personal ...

  3. Pudong bank probes 400m yuan loans to single borrower

    Posted Jun 08th 2006, 12:00am by Mark O'Neill

    ... Mark O'Neill in Shanghai Auditors uncover alleged fraud in 91 transactions involving the purchase of Shanghai luxury properties Shanghai Pudong Development Bank has launched an investigation into an alleged 400 million yuan loan fraud involving the purchase of properties in Shanghai. Official reports released yesterday said the bank, Citigroup's partner in Shanghai, ...

  4. Wenzhou 'role model' flees amid fraud probe

    Posted Jun 06th 2012, 12:00am

    ... Celine Sun in Beijing celine.sun@scmp.com Lin Chunping, a Wenzhou businessman who made headlines when he claimed to have bought an American bank, has fled the city amid allegations that he issued fake invoices. Mainland newspaper Legal Daily yesterday rep ...

  5. Lenders told to raise provisions for soured debts

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

    ... Jane Cai in Beijing Move may hit earnings, share prices Mainland banks will have to raise provisions for bad debts substantially this year to cope with aggressive lending policies and a rapidly cooling economy, a move expected to crimp earnings and lower ...

  6. Smaller firms shut out of loans as lenders want higher interest

    Posted Nov 25th 2008, 12:00am by Staff Reporter

    ... Wong Ka-chun Tighter credit markets are making it extremely difficult for small and medium-sized companies to get loans for expansion or to refinance existing debt. Hong Kong-listed Xiwang Sugar Holdings, a mainland firm that makes and sells corn-based bi ...

  7. HSBC slashes mortgage rate in bold move to regain lost market share

    Posted Feb 16th 2006, 12:00am by Andy Chen

    ... Andy Cheng and Maria Chan HSBC has joined the city's mortgage price war in an attempt to regain lost market share, surprising competitors who say the move will intensify competition ... HSBC in last year's mortgage price war to become the city's biggest mortgage lender. 'The latest offer is our response to the aggressive packages offered by other lenders ...

  8. Ex-bank officer jailed over HK$14m fraud

    Posted Apr 02nd 2011, 12:00am

    ... products, incurring more than HK$5 million in losses between 2007 and 2009, the District Court heard. He had earlier pleaded guilty to 15 charges of fraud, theft and money laundering. Chow produced ... made. The fraud came to light when a victim discovered money missing from his account and reported the matter. The judge said Chow targeted customers who did not live in Hong Kong so that his ...

  9. Banks set to raise mortgage rates

    Posted Sep 21st 2007, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong banks are set to increase their mortgage rates to ease margin pressure after slashing their prime lending rates. Hang Seng Bank and Bank of East Asia yesterday said ... lending rates. That translates into nominal mortgage rates of 4.5 per cent to 4.62 per cent. Now, however, banks are likely to reduce those mortgage spreads to increase their interest income. ...

  10. Mainland bank earnings reach record 1.04tr yuan

    Posted Feb 20th 2012, 12:00am

    ... buyers at the 7.05 per cent benchmark rate, instead of 5 to 10 per cent above that. Average monthly mortgage payments are expected to fall to 7,783 yuan as a result, from 8,212 yuan previously. And for a 1 million yuan mortgage with a 20-year term, the rate cut would result in savings of about 100,000 yuan in interest costs. However, property agents say housing sales volumes are unlikely to rebound ...




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