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DBS Bank (Hong Kong)

DBS Bank (Hong Kong)
The latest news, analysis and opinion on DBS Bank (Hong Kong). In-depth analysis, industry insights and expert opinion.
Hong Kong’s economy could see full-year growth of 2 to 3 per cent, according to budget estimates. Photo: Elson Li
Hong Kong economy

Hong Kong economy grows by stronger-than-expected 3.1% in first quarter

Downside risks surrounding global economy have heightened visibly, government spokesman warns.

Banking & finance

Banks lure new wealthy clients with Liverpool, Jay Chou tickets in golden week push

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Banking & finance

Hong Kong SMEs want funding support amid mounting costs, survey finds

Hong Kong property

Hong Kong’s NWD to launch second State Pavilia offering after weekend sell-out

Developer to put an additional 88 units up for sale ‘in response to the market’s needs’.

Potential buyers gathered at the sales office for the State Pavilia project. Photo: Edmond So
Banking & finance

From fireworks to cash, Hong Kong banks vie for mainland new year visitors

With 1.43 million mainlanders expected during the ‘golden week’, the city’s lenders prepare a slew of enticements.

Hong Kong property

Hong Kong developer cuts prices in Shau Kei Wan project amid oversupply

New price list takes average price in the district to the lowest level since September 2016 for primary launches: Midland Realty data.

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Hong Kong property

The Center sale came at a peak and now buyers struggle to exit

Take a look inside The Center, which was the world’s most expensive skyscraper when it was shrewdly sold by the city’s wealthiest man.

Illustration: Henry Wong
Focus

Global CEOs see new hopes, old threats in Hong Kong vs Trump 2.0

‘People are leery of investing a lot of money in a country that is part of geopolitical tensions,’ Oaktree Capital’s Howard Marks says.

Hong Kong property

Exclusive | World’s largest hedge fund CIO buys HK$95 million home in Hong Kong

Bridgewater Associates’ co-CIO Bob Prince paid HK$95 million for a three-bedroom home at St. George’s Mansion in Ho Man Tin.

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Hong Kong property

China, Singapore key to Hongkong Land’s US$10 billion asset disposal goal

Analysts approve the developer’s ‘strategic pivot’, but caution that execution remains key to its success.

Hongkong Land, which is controlled by conglomerate Jardine Matheson, manages US$32 billion of investment properties. Photo: Shutterstock
Hong Kong property

DBS buys entire 75th floor in The Center in bullish sign for office market

The latest purchase from ‘Cassette King’ Chan increases DBS’s ownership to 11 floors in what was once the world’s most expensive tower.

The exterior view of The Center building in Central, once the world’s most expensive office tower. Photo: Nora Tam
Hong Kong property

Hong Kong sees busiest market since May as DBS, HSBC bosses buy luxury homes

Total transactions in Hong Kong’s property market could end the year with the highest volume since 2021, Centaline forecasts.

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Hong Kong property

Hey big spender! Hong Kong transacts 3 luxury homes in a week

Two big deals recorded in Mid-Levels, another one on the books in Happy Valley.

China GDP

IMF lowers China GDP forecast on property, consumer confidence despite stimulus

China’s economy is projected to grow by 4.8 per cent this year, the International Monetary Fund said in its World Economic Outlook.

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Last week, China said its economy grew by 4.6 per cent in the third quarter compared to a year earlier. Photo: AP
Banking & finance

Hong Kong banks lure mainland clients with special incentives during golden week

Hong Kong banks are pulling out all the stops to attract mainland tourists, offering everything from fireworks dinners to golf with famous players.

Hong Kong banks are tempting clients with a range of activities including fireworks dinners during the ongoing golden week holiday. Photo: May Tse
Hong Kong property

Hong Kong’s cassette tycoon sells The Center space to DBS at discount

Singapore’s largest banking group paid HK$700 million, or about HK$26,000 per square foot, for the 66th floor of The Center building in Sheung Wan.

Banking & finance

HSBC, Hong Kong peers pledge to support SMEs amid financing struggles

Fourteen banks active in lending to the city’s small businesses have pledged to step up lending efforts to support their financing needs.

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Banking & finance

HKMA fines DBS Hong Kong US$1.28 million after money-laundering investigation

The bank failed to conduct enhanced due diligence in high-risk situations in periods between April 2012 and April 2019, the HKMA says.

Pedestrians pass a DBS branch in Hong Kong in September 2020. Photo: Getty Images
Banking & finance

Hong Kong banks to tap city’s Golden Week visitors drawn by residency scheme

Mainland China visitors to Hong Kong during the golden week holiday period will be offered a host of freebies by banks vying for their business amid growing interest in the city’s cash-for-residency scheme.

From our archives

When a Hong Kong bank crushed safe deposit boxes that hadn’t been emptied

A Hong Kong branch of DBS bank, being renovated in 2004, sent old safe deposit boxes to an industrial crusher, but 83 still contained customers’ items. The contents couldn’t be rescued and the bank had to pay out millions.

Banking & finance

Hong Kong banks roll out incentives to attract mainlanders during ‘golden week’

Tickets to Disneyland, afternoon tea at The Peninsula and fine dining with wine pairings – these are just some of the incentives with which major banks such as HSBC and Standard Chartered plan to woo high-flying mainland Chinese customers during the ‘golden week’ holiday.

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The World of Frozen at Hong Kong Disneyland. Standard Chartered is offering tickets to the theme park to select clients. Photo: Jonathan Wong
Banking & finance

Yuan slide feeds rush for safety in Hong Kong bank rates, insurance, US dollar

Mainland Chinese are rushing to open bank accounts in Hong Kong, buy insurance policies and investment products or swap their cash for local or US currency as the yuan slumps to the weakest since October.

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The yuan has depreciated 5.4 per cent against the US dollar this year to hit the weakest level since October. Photo: Shutterstock
Banking & finance

HSBC, DBS, other Hong Kong banks offer mainland customers ‘golden week’ goodies

HSBC, DBS, and China Citic Bank International are among the major lenders in the city, which are offering a wide range of incentives including extended operating hours at certain branches with an eye on the surge in mainland visitors during the ‘golden week’ holiday

Hong Kong property

‘Cautiously optimistic’ Sino Land set to launch some 2,100 flats this year

Sino Land, which posted a 36 per cent decline in half-year profit, plans to launch some 2,100 flats, including about 640 in Lohas Park this year.

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Banking & finance

Hong Kong launches data platform to help small businesses get bank loans

The de facto central bank’s new platform is designed to help small and medium-sized enterprises get cheaper loans by sharing their operational data with banks.

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The Commercial Data Interchange is one of the key initiatives under the de facto central bank’s Fintech 2025 strategy. Photo: Shutterstock
Hong Kong property

What the end of cooling measures would mean for Hong Kong’s property market

Any relaxation of the government’s cooling measures will only slow down the decline in home prices but not reverse the trend, says DBS Bank analyst Jeff Yau.

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Hong Kong’s home prices are expected to fall 30 per cent by the end of next year, according to a forecast by Goldman Sachs. Photo: Sam Tsang
Banking & finance

Hong Kong’s bank branch network shrinks as digitalisation looms

The calm that greeted the halt of branches prompted banks to double down on their digitalisation, raising the question whether outlets that typically cost HK$1 million a month each to run still makes commercial sense.

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Apps

Hong Kong lenders intensify rivalry in electronic lai see market

E-lai see demand from the city’s tech-savvy consumers continues to increase, while current social-distancing measures make this digital service more essential than ever.

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