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

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Hong Kong’s eight virtual banks are likely to start operations in the first quarter of next year. Photo: Shutterstock
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