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  • November 28, 2014
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  1. Retail banks hopeful for yuan trading

    Posted Oct 03rd 2003, 12:00am by Raymond Ma

    ... Hong Kong retail banks are keeping hopes alive that yuan banking for local individuals remains on the horizon. The latest comments by the heads of Bank of East Asia (BEA) and Standard Chartered Bank in Hong Kong suggest cautious optimism on a proposed plan to allow Hong Kong lenders to operate yuan deposit accounts, remittances, credit cards and foreign exchange for retail ...

  2. Card-use growth slowing, says Visa

    Posted Aug 19th 2003, 12:00am by Raymond Ma

    ... Growth in Hong Kong's highly lucrative but risky credit-card business has slowed as the market matures, according to Visa International. Statistics show retail sales made through ... sales for Asia-Pacific, also said credit-card retail sales were hit last year as banks cut back on lending in the wake of ballooning personal bankruptcies in Hong Kong. Visa commands most ...

  3. UOB sees wealth management as path to diversity

    Posted Sep 11th 2003, 12:00am by Raymond Ma

    ... Singapore's United Overseas Bank (UOB) is seeking to diversify its Hong Kong retail business by expanding into wealth management services, according to senior bank officials. UOB ... Hsu said. Competition among Hong Kong's banks has forced many to shift their retail focus towards wealth management sales. While UOB has maintained its corporate banking operations ...

  4. Citibank aims to broaden wealth management services

    Posted Aug 21st 2003, 12:00am by Raymond Ma

    ... More clients will benefit, says the bank's regional retail chief Citibank, which has been targeting affluent consumers in Hong Kong, is looking to bolster its local mass market-orientated retail banking services before the end of the year, according to a senior bank official. Head of retail banking for Asia-Pacific Jonathan Larsen said the bank was looking to expand its ...

  5. Bank earnings fall 8.7pc in first half

    Posted Sep 16th 2003, 12:00am by Raymond Ma

    ... Earnings at domestic retail banks fell by only 8.7 per cent in the first six months, despite a rise in bad debt charges in the second quarter, according to Hong Kong's banking regulator. Aggressive provisioning also helped lessen pressure on asset quality at retail banks, the Hong Kong Monetary Authority (HKMA) said yesterday in its latest quarterly bulletin. The ratio ...

  6. Wing Hang Bank eyes Shenzhen expansion

    Posted Oct 07th 2003, 12:00am by Raymond Ma

    ... The lender plans to add three branches and will compete with Wing Lung and Dah Sing Bank for market share Wing Hang Bank is planning to launch an ambitious strategy to expand its retail ... to boost its retail network in Shenzhen to four before 2007, with the Closer Economic Partnership Arrangement (Cepa) fast-tracking Hong Kong banks' entry into the mainland. Wing Hang, which ...

  7. China-backed banks rally on Cepa extensions

    Posted Jul 30th 2003, 12:00am by Raymond Ma

    ... last week that Hong Kong banks would be allowed to provide a limited set of yuan services to local retail customers. Shares in BOC Hong Kong (Holdings), another mainland-backed lender, rose 4.4 ... would handle retail yuan business, some analysts believe being awarded the contract to implement the clearing system would constitute the most lucrative part of the current round of mainland ...

  8. Bank plans expansion after 23pc profit rise

    Posted Aug 13th 2003, 12:00am by Raymond Ma

    ... The local branch of Shanghai-based Bank of Communications plans to boost its retail banking operations in Hong Kong after reporting a 23.6 per cent rise in net profit for the first half. Net profit for its Hong Kong operations, which consist of 41 retail branches, grew to $173.4 million for the first six months from $140.23 million in the same period last year, ...

  9. DBS may offer tiered rates on credit cards

    Posted Aug 14th 2003, 12:00am by Raymond Ma

    ... of a scheme to allow banks to share positive credit information of retail customers. The options being evaluated include a reduction on revolving interest charges and credit-card fees and an increase ... approaches, and we haven't come to a conclusion on which approach to take towards our customers.' Hong Kong banks this month began sharing positive credit information of retail customers, ...

  10. ICBC, Fortis engaged to be 'married'

    Posted Aug 22nd 2003, 12:00am by Raymond Ma

    ... to buy Fortis Group's retail and commercial operations in Hong Kong, a deal that will partner China's largest state-owned bank with Belgium's biggest financial services group. ... retail base by up to 90,000 new customers and 'many thousands' in small and medium-sized businesses, according to Fortis Bank chief executive Dennis Ziengs. Its branch network ...




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