Financial Services

HSBC to part with subsidiaries in four South American countries

HSBC Holdings is in talks on a possible sale of its operations in Colombia, Paraguay, Peru and Uruguay as part of its global strategy to boost profitability and cut costs. Read ››

HKMA lends a hand to banks burdened by Basel III

The Hong Kong Monetary Authority will allow the city’s banks to use foreign currency liquid assets to meet the liquidity coverage ratio requirements of Basel III. Read ››

HKEx's profit slips 7% to HK$1.15b

Listing fees and income from sales of information were lower than expected, while operating cost rose by 20%. Read ››

BOC Hong Kong's pre-provision operating profit up by 27% to HK$6.8b

The reported PPOP figure is 22% higher than operating expenses.  BOCHK's net interest income expanded as NIM of Rmb business made gains and core NIM remained stable. Read ››

Swiss private bank to do business in Hong Kong

Hong Kong now has 154 licensed banks. The Swiss private bank, Pictet & Cie (Europe) S.A., received a banking licence that took effect April 18, said the Monetary Authority. Read ››

HSBC prices international RMB bond

The transaction, set at a 3% revenue, saw very strong demand from both European and Asian investors. Read ››

Do retrenchments loom at global banks in Hong Kong?

Hong Kong saw more investment banking redundancies than Singapore, China, and Australia in the first quarter of 2012. Read ››

MIG Bank opens shop in Hong Kong

A Swiss online forex trader has opened a brick-and-mortar office in Hong Kong. Read ››

Credit card fees becoming more expensive

HSBC raises fees to over 2.5 percentage points and more leading banks are following suit. Read ››

Asian ETFs need more transparency

In August 2011, Chinese Vice Premier Li Keqiang visited Hong Kong, where he unveiled plans to create an exchange-traded fund (ETF) that would allow mainland China investors to invest in stocks listed in Hong Kong. Read ››

Insurance: A job sector in Asia that is very much alive and kicking

It’s a candidate-led market in this job sector. The insurance industry continues to be robust with listed replacement positions and new jobs opportunities across Asia Pacific for skilled candidates. Read ››

China CITIC Bank may have to bankroll again amid new capital rules

CITIC Bank may not have put capital concerns behind it even after raising Rmb26bn funds in 3Q11, says CIMB. Read ››

Closer monitoring for short selling

Rules providing for a new short position reporting regime will be gazetted on March 23. Read ››

Hong Kong banks tough enough, says Fitch

Fitch Ratings believes Hong Kong banks will withstand potential losses resulting from a new global economic slowdown. Read ››

BEA opens 31st branch in Guangdong

Hong Kong-based Bank of East Asia maintains its standing as the indigenous Chinese bank with the largest branch network in Guangdong. Read ››

Basel III to be implemented in 2013

No pain, no gain for Hong Kong’s banking industry. Hong Kong will adopt the tough Basel III banking reforms beginning January 1, 2013. Read ››

Wing Hang Bank profit up 30%

Net profit for fiscal year 2011 was HK$2.1b. Kim Eng noted: The results were in line with our estimates (HK$2.0b), which were at high end of market consensus. Read ››

HSBC sells general insurance business in Hong Kong

AXA will become the exclusive provider of general insurance products to HSBC’s customers in Hong Kong. Read ››

AXA acquires HSBC’s Property & Casualty businesses

The deal will position AXA as the number one P&C player in Hong Kong. Read ››

Prudential headed for Hong Kong?

Rumors have begun swirling that Prudential is considering moving its headquarters to better withstand tougher capital rules putting increased pressure on its balance sheets. Read ››

Hang Seng Bank CEO resigns

Margaret Leung will be replaced by Rose W M Lee, Advisor, China and Hong Kong, HSBC. Read ››

HSBC confident of strong growth in 2012-2013

Year 1 in a three-year strategy that should eventually see HSBC become the world’s leading international bank seems to have gotten off to a galloping start. Read ››

Lunar New Year holiday sparks massive credit card use

Along with its noisy festivities, the Lunar New Year can also be counted on for one recurring event: more credit card use. Read ››

Bank of East Asia profit up 3%

Net profit for FY11 was HK$4.36b. Kim Eng noted: FY11 net profit was HK$4.36b, up 3% yoy. Read ››

Hong Kong to set up insurance protection fund

The bill is planned to be introduced into LegCo in the 2012-13 legislative session for setting up the fund in 2013-14. Read ››

Who will buy HSBC Holdings' non-life insurance operations?

It's either Europe's Axa or Zurich's Ace - we'll probably know by late February. Read ››

Indian banks burdened with bad loans?

Share of loans restructered could ballon to 8% in the coming year, warns Fitch. Read ››

Responding to market demand, customer-needs-driven life insurer ageas attributes its success to quality, customised products and services

“The need to meet evolving challenges in the market is driving Ageas Hong Kong to satisfy our customers’ needs," said Ageas Insurance Company CEO Stuart Fraser. Read ››

AIA brings retirement offerings with great value, choice and simplicity to members

AIA Pension and Trustee Co. Ltd (AIA) has been fulfilling the diverse needs of mandatory provident fund (mpf) members for more than a decade. Read ››

Financial solutions reflect is caring approach and underpin goals of life

To every individual, what he or she aspires in life is an important element of their professional and personal existence. But to reach their goals and fulfill their aspirations, they ought to have financial security, in good times and in challenging times. Read ››

HSBC Medical Insurance leads the market for corporate and retail customers

The Hongkong and Shanghai Banking Corporation Limited began providing medical insurance solutions to customers in Hong Kong in 1988 as part of efforts to expand the range of insurance solutions in order to address evolving customer needs across their various stages of life. Read ››

The Outstanding Retail Bank

Basker Rangachari, Chief marketing officer, Hong Kong and North East Asia, Consumer Banking, Standard Chartered Bank (Hong Kong) Limited says that the bank’s senior leadership team and all its staff are transforming banking services to deliver what it takes to win customers’ trust. Read ››

Mortgage Corp posts $1.26bn profit

The company has maintained the credit ratings of AAA by Standard & Poor’s and Aa1 by Moody’s. Read ››

HKRH posts 97% fourth quarter sales growth

Sales of HKRH’s franchisees to their end customers up by 90%. Read ››

Holy cow: Narrow money growth of 1.9% yoy in Nov lower than even during the depth of the Lehman crisis

Consumption spending in India has now slowed to a trickle. Read ››

Monetary easing in China starting to work: HSBC

Money supply growth is on the rebound and further easing measures are still in the pipeline. Read ››

Will Hong Kong bankers have more money in the bank?

Survey shows Hong Kong-based investment banking and fund management staff expect an average bonus worth 37% of their salary for 2011. Read ››

Derivatives are back—but be careful

The Securities and Futures Commission (SFC) has authorized the issuance of “Exchange-Traded Funds” a year-and-a-half after these products were banned. Read ››