Benjamin Hung, chief executive of Standard Chartered Bank Hong Kong, said the Greater China region contributed more than 31 per cent in pre-tax profits to the total group last year, with Hong Kong posting a record profit among all the bank's markets.
Hong Kong pre-tax profits rose 35.8 per cent to HK$9.96 billion, with personal banking and commercial banking revenues all rising to record highs.
Hung said the bank hired about 450 more employees, bringing the total headcount in Hong Kong to about 6,000 people last year. Hiring plans would depend on performances this year, he said.
Yuan deposits in Hong Kong would reach about 700 billion (HK$862 billion) by the end of this year, said John Tan, head of global markets at Standard Chartered Bank Hong Kong.
Yuan deposits dropped to 588 billion in December from 627 billion in November.
Standard Chartered has said that about half of the yuan deposits in Hong Kong would likely be invested in so-called dim sum bonds - yuan bonds issued in the city. That investment would amount to 350 billion yuan to 400 billion yuan by the end of this year, the bank said.
