Citibank’s branch on Argyle Street in Mong Kok on 23 May 2018. Photo: Fung Chang

Hong Kong’s internet banking pioneer says it will stay above the fray in city’s rush to embrace virtual banking

  • The eight new licences are the largest number of new comers in a single year, and increase the local incorporate banks by one-third
  • Citi decided not to apply virtual bank licence but have developed many popular digital bank services
Topic |   Banking & Finance

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Citibank’s branch on Argyle Street in Mong Kok on 23 May 2018. Photo: Fung Chang
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The exterior of the Hong Kong Monetary Authority (HKMA) on 27 October 2017. Photo: SCMP

Hong Kong issues four more virtual bank licences to spur innovation and disrupt bricks-and-mortar financial services

  • Four new licences granted, bringing the total to eight since March 2019
  • The HKMA wants to spur innovation in financial services
Topic |   Fintech

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The exterior of the Hong Kong Monetary Authority (HKMA) on 27 October 2017. Photo: SCMP
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