Consumer credit finance firm Aeon Credit Service (Asia), which posted a 27.58 per cent increase in net profit to $186.11 million for last year, plans to aggressively expand its retail network and issue more credit cards to gain market share.Thursday, 27 April, 2006, 12:00am
Leading lenders, including HSBC and Hang Seng Bank, have raised their time deposit rates but the adjustments mainly cover short-term accounts.
HSBC and Hang Seng raised their time deposit rates 0.05 to 0.25 percentage point for accounts tied up for one week to two months.31 Mar 2006 - 12:00am
Monetary chief gives HK borrowers a reality check after latest Fed increase
Hopes that interest rate rises may be near their peak are wishful thinking, Monetary Authority chief Joseph Yam Chi-kwong warned yesterday.30 Mar 2006 - 12:00am
Increase of 25 basis points seen likely but top banks may want more to catch up with smaller rivals
Hong Kong banks are expected to match an expected interest rate rise of 25 basis points by the United States Federal Reserve this week.27 Mar 2006 - 12:00am
Despite a volatile week for the Hang Seng Index, a leading analyst predicts Hong Kong is in good shape until the end of the year.
Mark Simpson, head of Hong Kong research at Macquarie Securities, said looking at the index from a bottom-up approach he believes it could reach 17,300. From a top-down perspective, it could reach 18,100.26 Mar 2006 - 12:00am
Borrowers have been treated to a rare peep into the engine room that drives the lending business in Hong Kong - to the mild irritation of bankers who prefer making less transparent disclosures to their customers than they expect from them in return for giving loans.23 Feb 2006 - 12:00am
At least three banks slashed their interest rates for home loans yesterday after HSBC's cut in its mortgage rates to an across-the-board 5 per cent last week.
The moves by Bank of East Asia (BEA), Wing Lung Bank and Dah Sing Bank met bankers' expectations that small and medium-sized lenders had to follow HSBC's lead to survive.21 Feb 2006 - 12:00am
The average cost of money raised by Hong Kong banks to make loans to their customers edged down by 0.04 percentage point to 2.84 per cent at the end of last month.
At the same time banks were charging a prime lending rate of between 7.5 per cent and 7.75 per cent - giving them a gross profit margin on their prime lending business of between 4.91 per cent and 5.16 per cent.18 Feb 2006 - 12:00am
Lenders quick to follow US in raising interest levels but tardy in dropping them, consumer watchdog's study shows
Hong Kong banks are quick to raise interest rates but slower to reduce them in response to changes in the United States, despite the linked exchange rates, the Consumer Council said yesterday.16 Feb 2006 - 12:00am
China yesterday launched a pilot programme for trading yuan interest rate swaps - its latest move in a policy of gradually broadening the modest range of domestic financial tools available to local users.
The trial programme is seen as a harbinger of broader interest-rate liberalisation in the medium term after completion of the country's banking sector reform.10 Feb 2006 - 12:00am
Present policymaking in the United States should have Hong Kong homeowners wondering whether they will still have a roof over their heads in a year or so; and if they do, how much it will be costing them in monthly mortgage repayments.
In a matter of months, as we pointed out last week, typical repayments have gone up about $2,500 or 27 per cent - and there is worse to come.13 Oct 2005 - 12:00am
Rising cost of borrowing slows activity and prompts fall in homebuyer confidence
Hong Kong's property market may consolidate in the short term as a possibly longer than expected upward interest rate cycle is holding homebuyers back, experts say.12 Oct 2005 - 12:00am
Banks line up response to regulator's potentially divisive mortgage proposal
Local banks will meet formally for the first time this week to prepare their response to a Hong Kong Monetary Authority proposal that mortgage rates be priced against a reference composite index rather than against prime lending rates, as is currently the practice.10 Oct 2005 - 12:00am
Hang Seng Bank chief expects prime to reach 7.5 per cent at some point
Bankers yesterday warned that the interest-rate rise cycle would continue well into next year with increases totalling at least 0.5 per cent in coming months.22 Sep 2005 - 12:00am
Observers say 0.25 percentage point rise likely despite the impact of hurricane
Hong Kong banks are likely to match an expected move by the United States Federal Reserve to raise its Fed funds rate by another 0.25 percentage point tomorrow, raising their prime lending rates and saving deposit rates by the same margin, according to bankers.19 Sep 2005 - 12:00am