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Standard Chartered is one of Hong Kong's biggest banks. Its name is derived from the two banks from which it was formed in a merger in 1969: The Chartered Bank of India, Australia and China, and Standard Bank of British South Africa. Its headquarters are located in London.
With the Fed expected to start cutting rates before the end of the year, margins for lenders will narrow, potentially exposing threats in other areas. Hong Kong’s banks have made provisions and shored up balance sheets to ward off China property risk
Borrowers should heed warning this is not the time to lightly undertake property purchases, mortgages or other decisions that weigh on financial security.
Key data for May proves disappointing and many challenges remain, but China still has some tools in the shed to turn things around.
Questions hang over the need for more office space in a city seeking sites for homes when staff have become used to flexible work arrangements during the pandemic.
With the world facing a US$4 trillion green investment gap a year, transition finance will grow in importance because of regulatory support in Asia, experts say.
HSBC, Standard Chartered and BOCHK – the city’s three note-issuing banks – will keep their lending and deposit rates unchanged, meaning borrowers will have to keep waiting for interest relief.
Simon Cooper, a frontrunner to replace CEO Bill Winters, is set to depart. Judy Hsu will take on more responsibility in consumer and private banking, while Asia chief Ben Hung will become president of international business.
Now in its 12th edition, the South China Morning Post’s 100 Top Tables fine dining guide was launched to the cream of the city’s dining scene at the Peninsula Hong Kong
‘We’ve always been at the cutting edge of the whole blockchain evolution, including CBDCs,’ Yue, CEO of the Hong Kong Monetary Authority, the city’s de facto central bank, tells the Post.
HSBC, Standard Chartered and Hang Seng Bank are rolling out more products tied to the Wealth Management Connect scheme amid a drive by Beijing to boost the Greater Bay Area’s financial markets.
Standard Chartered, one of Hong Kong’s three currency-issuing banks, reported an 18 per cent jump in profit, beating estimates.
Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.
In the third of a four-part series on the Greater Bay Area’s fifth anniversary, we look at how Hong Kong has become the de facto wealth management hub for the wealthy. Enhancements to cross-border payments and investments will only add to the city’s lustre.
Standard Chartered is considering restructuring its institutional banking arm, the unit that houses the firm’s investment bankers and traders, as part of the latest effort by chief executive officer Bill Winters to improve the lender’s returns.
Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.
Hong Kong banks have launched marketing campaigns to kick off the Year of the Dragon. The giveaways include fireworks dinners, lucky draws and air tickets to lock in new clients and entertain wealthy customers.
The banks’ decisions followed the Hong Kong Monetary Authority (HKMA), which left the city’s base rate at 5.75 per cent hours after the Fed kept its target range unchanged in its first policy move of the year.
The use of cheques in the city could end as the Hong Kong Association of Banks works out a road map to phase it out amid an irreversible shift to electronic payments.
Potential US rate cuts this year will redirect capital to Asia, boost the yuan and create demand for yuan products, Standard Chartered’s John Thang says. Hong Kong’s efforts to promote family offices and the investment migration scheme will act as catalysts.
The Hong Kong dollar offering will fund capital expenditures including the third runway at Hong Kong International Airport, and could foster the city’s local bond markets, according to participants.
Hong Kong’s retail investors could mobilise US$18 billion in capital towards investments in climate change by 2030, according to a Standard Chartered survey.
Standard Chartered is expanding its role as an international service provider in mainland China, tapping its wealthy clients’ rising appetite for assets around the globe.
The officials are soliciting views from the city’s three note-issuing banks and foreign bankers on how Hong Kong can increase its competitiveness as a financial centre, sources say.
Standard Chartered Bank, one of the note-issuing bank in the city, reported a 40 per cent increase in the number of customers buying ESG (environmental, social and governance) funds in the first 10 months of this year, in signs of growing public interest in fund products that help solve pollution and climate change.
The China branches of Hang Seng Bank and Fubon Bank are also in the first batch of overseas banks to join more than 40 state-owned banks in launching their services on the e-CNY app.
Standard Chartered ‘remains committed to investing in China’, country head Jerry Zhang says, pointing to strong third-quarter economic data
Top regional executive from HSBC points to ‘very strong rebound’ after ‘legitimate uncertainty’ over city’s role in the world.
Standard Chartered reported worse-than-expected earnings for the third quarter because of high impairment charges related to exposure to China’s property sector.
Invest Hong Kong’s five-day event, including a two-day conference, is set to explore a ‘new era’ as fintech innovations make their way into real-world use on a broad scale, says the city’s acting secretary for financial services.
About 90 top-level executives such as CEOs and chairmen are expected at this year’s event, more than double last year’s attendance.