HSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson WongHSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson Wong
HSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson Wong

Hong Kong’s biggest banks find themselves in a vice as they cut rates for the first time in 11 years during city’s recession

  • HSBC had US$308 billion of loans to customers in Hong Kong, or 64 per cent of volume in Asia, last quarter
  • Standard Chartered trims prime rate to 5.25 per cent in its most profitable region as Hong Kong slips into technical recession

Topic |   Banking & Finance
HSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson WongHSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson Wong
HSBC did not react to two rate cuts by the HKMA in September and August this year. Photo: Winson Wong
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