Dao Heng Bank may offer preferential deposit and lending rates to clients as part of parent Guoco Group's efforts to vie for Mandatory Provident Fund (MPF) business.
Guoco Group will also offer special benefits to insurance, brokerage and unit trust clients, according to Dao Heng Fund Management director and general manager George Chan Wing-yau.
For example, insurance clients who bought MPF packages from the group might get special prices for group insurance and medical policies, he said.
'Guoco Group has a strong commitment to developing the MPF business,' he said. 'The group will use the combined force of all its financial subsidiaries to promote the MPF plan.' Dao Heng Fund Management would handle investment for its MPF products, while Dao Heng Bank's 80 branches would help to sell them, he said.
The bank's insurance and securities arms also would use their sales forces to sell the MPF plans.
Mr Chan said the group expected to have a 600-strong sales team for its MPF plans, with 500 coming from Dao Heng Bank staff and the rest from the insurance and brokerage arms.
