Hong Kong’s eight virtual banks are likely to start operations in the first quarter of next year. Photo: Shutterstock
Hong Kong virtual banks’ profitability hinges on their ability to harness payroll accounts, says KPMG
- Hong Kong’s eight virtual banks, expected to launch operations in the first quarter of 2020, are likely garner up to three per cent of the city’s deposit base, says KPMG
- Scramble for payroll accounts could intensify after 2020, as virtual banks compete for low-cost funding source
Topic |
Banking & Finance
Hong Kong’s eight virtual banks are likely to start operations in the first quarter of next year. Photo: Shutterstock