General Electric has hired Morgan Stanley to review its 33 per cent stake in Thailand’s Bank of Ayudhya, which could potentially lead to a sale by the US conglomerate of its near US$2.2 billion holding, sources familiar with the matter said.Monday, 17 September, 2012, 2:51pm
People looking to securely store their favourite family heirloom or marriage certificate are finding it increasingly hard to rent safe deposit boxes in the city as the rising cost of real estate makes banks reluctant to expand the service.
A banker, who declined to be named, said banks did not want to install more safe deposit boxes as it was not a profitable business.17 Sep 2012 - 2:15am
Here is a story that many analysts on the mainland probably won't tell you. It's the story behind the story of how analysts actually become known as "stars".9 Nov 2012 - 8:07pm
By day, Hang Seng Bank director Andrew Fung Hau-chung lives the life of a high-flying financier. By night, the works of Shelley or Shakespeare are more likely to preoccupy him than currency cross rates or bond swaps.
The veteran banker, who now heads Hang Seng's investment, insurance and treasury operations, has seen many ups and downs in the city's banking industry.17 Sep 2012 - 2:15am
Financial Secretary John Tsang Chun-wah has warned banks in the city that although they are relatively well positioned in terms of capital reserves, they need to remain alert to economic risks.14 Sep 2012 - 3:19am
Bradley Birkenfeld, the former UBS banker who went to prison after telling the United States Internal Revenue Service (IRS) how the bank helped thousands of Americans evade taxes, secured a whistle-blower award of US$104 million, the largest individual federal payout in US history.13 Sep 2012 - 3:00am
If you work and live in Hong Kong, I’m pretty sure many of you must have received dozens of cold calls from commercial banks like HSBC and Standard Chartered already this year.
For what? They want to offer you personal loans. In some cases, you can get even more than one million Hong Kong dollars.23 Oct 2012 - 3:31pm
Job titles for certain financial professionals are becoming the butt of jokes around Central, Hong Kong’s answer to Wall Street.
It seems like five out of 10 investment bankers and private equity dealmakers you bump into these days in Central are vice-presidents.23 Oct 2012 - 4:03pm 1 comment
The price of China Minsheng Bank shares fell yesterday on news that two brokerage houses had downgraded its ratings over concerns of deteriorating asset quality and narrowing profits due to a regulatory change.6 Sep 2012 - 4:03am
The Hong Kong Monetary Authority will spend HK$17 million to establish an electronic-bill payment system in the city in the second half of next year.
The authority also is studying an electronic cheques transfer system and a more advanced mobile-phone payment platform that could be introduced in 2014. Costs of implementing the two alternatives are still being worked out.5 Sep 2012 - 1:37am
China Construction Bank says it is unrealistic to achieve double-digit growth in non-interest income in the current half year because its ability to charge fees may continue to be affected by regulatory clampdowns.28 Aug 2012 - 3:38am
Sharp Corp’s main creditors Mizuho Corporate Bank and Mitsubishi UFJ Financial Group are considering extending about 200 billion yen (US$2.52 billion) in new loans to the struggling TV maker, Japanese media reported, sending its shares higher on Thursday.23 Aug 2012 - 3:52pm
Fund managers and listed companies have expressed support for a planned Hong Kong review of the local interbank rate setting to ascertain whether any manipulation is occurring.21 Aug 2012 - 3:56am
Mainland banks are expected to unveil much slower profit growth when they begin reporting their first-half results in Hong Kong this week, but with earnings still growing at a double-digit pace, investors are likely to be forgiving.16 Aug 2012 - 3:54am
Chong Hing Bank, one of the few remaining family-run lenders in Hong Kong, said yesterday that business had improved in the first half but profit had slumped due to the absence of several one-time gains that bolstered earnings last year.
Net profit dropped 36.6 per cent to HK$260 million compared with year-earlier period.15 Aug 2012 - 11:16pm