Established in 1933 as a money-changing shop in Hong Kong, Hang Seng Bank is the second largest bank in Hong Kong. The bank is majority owned by the HSBC Group through The Hongkong and Shanghai Banking Corporation and is a Hang Seng Index constituent stock.
Hang Seng Bank on Monday reported net profit dropped 43 per cent year-on-year to HK$15.13 billion due to higher bad debts provision for mainland China lending as well as impairment loss and accounting treatment related to its investment in mainland lender Industrial Bank.Tuesday, 24 February, 2015, 6:12pm 2 comments
Hang Seng Bank will sell off about half of its holdings in Shanghai-listed Industrial Bank, raising up to HK$15.79 billion and boosting the bank’s regulatory capital.10 Feb 2015 - 8:14pm
Shares of Hang Seng Bank jumped to a six-year high on Wednesday after media reports that the Hong Kong-based lender is considering selling its 10.9 per cent stake in Industrial Bank.4 Feb 2015 - 10:29pm
Hang Seng Bank said net profit dropped 54 per cent to HK$8.47 billion in the first six months of this year mainly because of a one-off accounting gain in the same period last year and lower property revaluation.5 Aug 2014 - 2:23am
Hang Seng Bank plans to further expand its branch network in Hong Kong this year in an effort to gain more customers.
The bank added three new branches and eight new Prestige Banking centres in the New Territories and areas near the MTR to capture mainland tourists as clients.25 Feb 2014 - 3:11pm
Hang Seng Bank yesterday reported its net profit last year rose 38 per cent to HK$26.68 billion, thanks to strong growth in lending and fee income as well as one-off accounting gains related to its mainland investment.25 Feb 2014 - 1:24am
Haitong International Securities having to resort to waiving its investment management fees on Mandatory Provident Fund offerings for three years shows the difficulty small players face in capturing a piece of the HK$514 billion market.18 Feb 2014 - 2:30am
Before I start to tell you two stories, let me ask you a question: In general, do you feel English-language skills of Hong Kong people are increasing or declining since the 1997 handover?16 Dec 2013 - 11:29am 52 comments
Hang Seng Bank is to launch its first A-share exchange-traded fund next month or in November after receiving a renminbi qualified foreign institutional investor quota of 1 billion yuan (HK$1.26 billion), executive director Andrew Fung Hau-chung said.20 Sep 2013 - 4:07am
Hang Seng Bank is set to open more branches in the New Territories and extend banking hours on Saturdays at some outlets to cater for mainland tourists.7 Aug 2013 - 4:35am
Hang Seng Bank yesterday reported better-than-expected results for the first half, with net profit doubling to HK$18.47 billion on the back of one-off accounting gains, higher fee income and lower bad debt charges.6 Aug 2013 - 4:56am
Beijing granted quota under the renminbi qualified foreign institutional investor (RQFII) scheme for the first time to an offshore institution last month.
The move broke the 19-month monopoly of the business by Hong Kong arms of mainland asset managers and is part of the central government's efforts to boost yuan inflows.1 Aug 2013 - 5:27am
As part of a continuing series to test the quality of financial advice being offered by banks, the South China Morning Post put eight banks through their paces. This week our reporter visits Hang Seng Bank. As in previous rounds, she poses as a 37-year-old expatriate mother of two who wants to invest HK$10,000 a month into a pension.23 Jul 2013 - 6:42am
Check your HSBC ATM card - chances are it says UnionPay on the back, where is used to have Cirrus and Plus. I suspect the unlucky folks at the World's Local Bank who have to implement the new UnionPay chip card clearing system wish the whole thing would just vanish.13 Jun 2013 - 9:58pm
Hang Seng Bank's minority shareholders failed to stop a plan to give directors a rise in fees of more than 30 per cent while dividends stay unchanged, after the motion was carried with the overwhelming support of large institutional stakeholders.17 May 2013 - 6:18am