https://www.scmp.com/rss/521769/feed The latest news and top stories on Shanghai Commercial Bank. A leading entity in the Finance sector, Hong Kong-based Shanghai Commercial Bank specialises in comprehensive corporate and retail banking services, including deposits, loans, trade finance, and wealth management. They primarily serve individuals, corporate clients, small-and-medium sized enterprises (SMEs), and high-net-worth individuals. Established in 1950, the bank is known for its international network spanning mainland China, the... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu High-dividend yielding Hong Kong and mainland banking stocks are likely to attract investors looking to park some of the HK$106.16 billion (US$13.6 billion) windfall from the Hang Seng Bank privatisation deal, according to analysts. They tipped Bank of China (Hong Kong) and HSBC to be among the biggest beneficiaries these investors seek as dividend-paying replacements. About 15,000 Hang Seng Bank shareholders are expected to receive their payout cheques by February 4 in exchange for their... https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed https://www.scmp.com/business/article/3339361/which-stocks-will-hang-seng-bank-shareholders-consider-their-us14-billion-windfall?utm_source=rss_feed Sun, 11 Jan 2026 23:30:12 +0000 Enoch Yiu Enoch Yiu The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary Authority (HKMA) both reduced their key policy rates by a total of 75 basis points in 2025, following a full percentage-point rate cut in 2024. Hong Kong’s base rate now stands at 4 per... https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337042/hong-kong-interbank-rates-forecast-drop-expected-us-monetary-easing-2026?utm_source=rss_feed Thu, 01 Jan 2026 23:00:09 +0000 Enoch Yiu Enoch Yiu One of Hong Kong’s oldest lenders is stepping up its push into digital finance, teaming up with newly listed digital asset exchange HashKey Exchange to launch a co-branded credit card in the first half of next year. Shanghai Commercial Bank (SCB), which marked its 75th anniversary this year, will partner with HashKey Exchange to issue a Visa credit card exclusively for investors trading on the digital asset platform, according to chief executive Wallace Lam Wing-ted. HashKey, one of 11 licensed... https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337332/old-lender-new-twist-shanghai-commercial-bank-teams-hashkey-credit-card?utm_source=rss_feed Tue, 23 Dec 2025 00:30:08 +0000 Bloomberg Bloomberg Hong Kong dollar-denominated bond issuance has lost momentum following a record month as high local interest rates eroded borrowing appetite. Total issuance in the city’s currency, which is pegged to the US dollar, reached HK$357.7 billion (US$46 billion) in October, a decrease of about 30 per cent from September’s all-time high, according to Bloomberg-compiled data going back to 1988. The lower sales volume came as the Hong Kong interbank offered rate (Hibor), a funding cost benchmark in the... https://www.scmp.com/business/banking-finance/article/3331267/hong-kong-dollar-bond-sales-slump-amid-elevated-interest-rates?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3331267/hong-kong-dollar-bond-sales-slump-amid-elevated-interest-rates?utm_source=rss_feed Mon, 03 Nov 2025 01:38:42 +0000 Enoch Yiu Enoch Yiu Led by HSBC, Hong Kong’s major banks cut their prime lending rates – to a historic low of 5 per cent in some cases – on Thursday, further reducing funding costs to help reboot the city’s businesses and reduce the burden on mortgage borrowers. The Hong Kong Monetary Authority (HKMA) cut the base rate by a quarter point to 4.25 per cent on Thursday morning, hours after the US Federal Reserve pared its target rate by the same margin to a range of 3.75 per cent to 4 per cent during the seventh... https://www.scmp.com/business/banking-finance/article/3330832/hong-kong-follows-us-quarter-point-interest-rate-cut-reduce-loans-cost-borrowers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3330832/hong-kong-follows-us-quarter-point-interest-rate-cut-reduce-loans-cost-borrowers?utm_source=rss_feed Wed, 29 Oct 2025 23:00:44 +0000 Enoch Yiu Enoch Yiu Hong Kong’s de facto central bank cut the city’s base rate for the first time this year, bringing down the cost of funding to help reboot businesses and reduce the burden on mortgage borrowers. The Hong Kong Monetary Authority (HKMA) reduced the city’s base rate by a quarter point to 4.5 per cent on Thursday, matching the US Federal Reserve’s cut hours earlier to its target rate, which fell to the range of 4 per cent to 4.25 per cent during the sixth meeting of the Federal Open Market Committee... https://www.scmp.com/business/banking-finance/article/3325925/hong-kong-cuts-base-rate-first-time-2025-matching-feds-move-amid-weak-us-jobs?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325925/hong-kong-cuts-base-rate-first-time-2025-matching-feds-move-amid-weak-us-jobs?utm_source=rss_feed Wed, 17 Sep 2025 23:00:43 +0000 Enoch Yiu Enoch Yiu A “low-rate honeymoon” for Hong Kong borrowers has come to an end with an increase in the interest rate banks use to set loan prices, a mixed blessing that drives away carry traders but threatens a property market recovery and discourages corporate borrowing, according to analysts. The Hong Kong Monetary Authority intervened 12 times in the currency market over the past two months, successfully defending the local currency’s peg to the US dollar by buying HK$119.95 billion and selling US$15.28... https://www.scmp.com/business/banking-finance/article/3322822/hong-kongs-low-rate-honeymoon-ends-hkmas-dollar-peg-defence-raises-hibor?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3322822/hong-kongs-low-rate-honeymoon-ends-hkmas-dollar-peg-defence-raises-hibor?utm_source=rss_feed Sun, 24 Aug 2025 23:00:12 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) intervened in the foreign exchange market overnight for the 11th time since late June, buying local currency and absorbing interbank liquidity in a move that analysts believe will increase local interest rates and deter carry traders looking to exploit the city’s interest rate differential with the US dollar. The HKMA said it sold US$900 million and purchased the equivalent of HK$7.07 billion at an exchange rate of HK$7.85 per US dollar during New York... https://www.scmp.com/business/banking-finance/article/3321733/hong-kong-sells-us-dollars-fight-carry-trade-defend-currency-peg?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3321733/hong-kong-sells-us-dollars-fight-carry-trade-defend-currency-peg?utm_source=rss_feed Wed, 13 Aug 2025 10:00:37 +0000 Enoch Yiu Enoch Yiu The Hong Kong Monetary Authority (HKMA) kept its base rate unchanged in lockstep with the US Federal Reserve, after the American central bank said it needed more time and data to monitor the potential inflationary impact of President Donald Trump’s tariffs. On Thursday, the HKMA maintained its rate at 4.75 per cent, hours after the Fed left its target range between 4.25 per cent and 4.5 per cent during the fifth Federal Open Market Committee (FOMC) meeting of the year. The Fed has stood pat on... https://www.scmp.com/business/banking-finance/article/3320202/hong-kong-leaves-base-rate-unchanged-475-us-fed-keeps-eyes-inflation-pressure?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3320202/hong-kong-leaves-base-rate-unchanged-475-us-fed-keeps-eyes-inflation-pressure?utm_source=rss_feed Wed, 30 Jul 2025 23:01:33 +0000 Aileen Chuang Aileen Chuang The Hong Kong dollar faces prolonged weakness because of substantial liquidity in the local financial system and a wide gap between local and US interest rates, according to strategists. The local currency could trade near HK$7.85 per dollar – the weak side of its HK$7.75 to HK$7.85 trading band – over the next three to six months, Standard Chartered Bank said in a report on Friday. Sizeable carry-trade positions and a poor asset growth outlook would slow the pace of liquidity tightening from... https://www.scmp.com/business/banking-finance/article/3317234/hong-kong-dollar-faces-prolonged-weakness-liquidity-rates-drawback-bank-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3317234/hong-kong-dollar-faces-prolonged-weakness-liquidity-rates-drawback-bank-says?utm_source=rss_feed Mon, 07 Jul 2025 10:00:20 +0000 Joshua Kwok Joshua Kwok Two of Hong Kong’s largest fast-food chains, Cafe de Coral and Fairwood, both suffered a near 30 per cent drop in profits last year, with experts attributing their struggles during the economic downturn to ageing diners and intense competition from delivery platforms. The two companies were considered resilient players during previous downturns caused by the Asian financial meltdown in 1997 and the global one in 2008, as well as two health crises – the 2003 outbreak of severe acute respiratory... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3317059/why-are-hong-kong-fast-food-giants-cafe-de-coral-fairwood-suffering-downturn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3317059/why-are-hong-kong-fast-food-giants-cafe-de-coral-fairwood-suffering-downturn?utm_source=rss_feed Sun, 06 Jul 2025 04:00:15 +0000