Coronavirus: Hong Kong banks to close up to 30 per cent of branches as a public safety measure amid outbreak
- Bank of China will close 49 branches, Bank of East Asia 20, HSBC 20 premier and four business centres, and Hang Seng 18 branches and 10 MTR outlets
- Hong Kong Monetary Authority urges banks to ensure the public has access to basic services, while encouraging customers to take help of online or phone banking
The scare over the contagious coronavirus outbreak has spread to the Hong Kong banking sector, with the city’s de facto central bank warning 20-30 per cent of branches of various banks will be closed, while many others will shorten their service hours.
The Hong Kong Monetary Authority said on Friday it received reports from several banks that they would either close their branches or shorten operating hours temporarily.
The authority urged banks to ensure the public had access to basic banking services. It said banks should inform customers in advance of any suspension in services, adding that the authority would work closely with the banking industry.
It also encouraged customers to turn to online or phone banking services.
Bank of China, one of Hong Kong’s three banks issuing currency notes, will close 49 of about 200 branches from Saturday until further notice, while HSBC will close 24 out of more than 100 outlets.
Hang Seng Bank, an HSBC subsidiary, will close 18 branches, 10 outlets at MTR train stations and three business centres from February 5 and shorten service duration by one to two hours from Saturday.