Financial Services

SFC laments underperforming bank IPO sponsors
11 Oct 18
It is enhancing sponsor standards in order to reclaim the global IPO crown.
Malaysian bank loan growth may further soar in Q4
10 Oct 18
Loan growth in August went up to 5.4%, the highest it reached in 2018.
China further eases reserve ratio by 100 bps
9 Oct 18
It could help boost GDP growth amidst the escalating trade tensions.
Robo-advisory platform Quantifeed raises US$10m in series B round
4 Oct 18
The proceeds will be used to fuel its expansion plans.
Digital bank Neat scores US$2m from Dymon Asia and Portag3 Ventures
4 Oct 18
The proceeds will be used to boost onboarding and hiring processes.
Will the lack of mega-IPOs push Hong Kong out of the global IPO rankings?
4 Oct 18
With total funds raised at $54.8b, Hong Kong holds the fifth spot in the global IPO league.
Hong Kong nine-month IPO proceeds balloon 174% as pipeline looks fit to burst
3 Oct 18
The proceeds from share sales hit $240b as of Q3.
Bank loan growth slows to 8.4% in August as business sentiment sours
1 Oct 18
Domestic financing and mortgages took a beating.
OCBC Wing Hang Bank kills $425.9m sale of Hong Kong Life Insurance
1 Oct 18
The closing conditions have not been met in time.
Faster Payment System goes live
1 Oct 18
Customers can now make and receive real-time payments.
Approved mortgage loans up 7.7% to $47.7b in August
1 Oct 18
The number of mortgage applications also rose 26.3% to 17,963.
Hong Kong ends era of cheap money after hiking base lending rates to 2.5%
27 Sep 18
Banks are widely expected to hike prime rates soon.
Hong Kong set to vault to the top of global IPO league with $300b haul
26 Sep 18
A strong Q3 performance has boosted expectations of the SAR taking the top spot.
Hong Kong mulls remote bank account opening in the Mainland
25 Sep 18
Facial recognition technology and biometric methods may be used.
HKD posts largest growth in 15 years as liquidity tightens
24 Sep 18
The local currency climbed by as much as 0.63% to $7.793 against the USD.
Credit card transactions up 15.4% to $137.3b in Q2
24 Sep 18
The number of credit cards in circulation hit 20.06 million.
Hong Kong doubles down to capture the green finance opportunity
24 Sep 18
Around 15 green bonds with an aggregate size of US$8b were issued in H1.
Korea's Q2 e-payments highest since 2008
20 Sep 18
Average daily transactions jumped 17.4% to US$104.87m.
Chinese medical firm Wuxi AppTec files for Hong Kong IPO after Shanghai float
20 Sep 18
It raised $2.58b in its listing earlier this year.
Hong Kong loses to Singapore in ease of corporate compliance
20 Sep 18
The SAR ranks seventh in APAC whilst the Lion City is second.
HSBC steps up Hong Kong and Singapore hiring to cash in on Asian goldmine
18 Sep 18
The bank is planning to add over 1,300 positions by 2022.
SFC slaps Huatai Financial Holdings with $800,000 fine over short selling failures
18 Sep 18
The stock broker short-selled bonus shares.
Hong Kong launches Faster Payment System in Smart Banking push
18 Sep 18
Consumers will soon be able to transfer funds instantly and without cost.
Tighter oversight pushes Chinese life insurers premiums down 24% in H1
14 Sep 18
Sales of short-term savings product were hit.
Wealthtech firms poised to snap up to 10% of wealth manager assets
14 Sep 18
Robo-advisors are steadily luring the tech-savvy mass affluent.
Hong Kong is the world's third most attractive financial center as Asia outperforms weakening Europe
14 Sep 18
The SAR is set to pounce on London who’s been losing luster due to Brexit.
Bank of East Asia steps up tech partnerships to capture Mainland market
13 Sep 18
The bank has already tied up with four tech companies.
Hang Seng Bank enhances capabilities of AI-powered chatbot
13 Sep 18
‘HARO’ can now help customers manage their personal finances.
Banks in emerging Asia wrestle for e-payments market share against telcos and online upstarts
13 Sep 18
Indonesian and Philippine banks may lose up to $3.8b and $1.3b respectively.
China's ultra rich set to boost Hong Kong wealth assets by 50% in 2023
13 Sep 18
HNWIs from the Mainland are edging out AuM from other APAC markets.
Hong Kong inks fintech cooperation deal with Brazil
11 Sep 18
The two central banks will share information and lead joint innovation projects.
Hang Seng Bank launches all-in-one payment collection service for merchants
10 Sep 18
Merchants may soon accept several payment methods through one integrated point-of-sale terminal.
Number of mortgage accounts up 7.6% to 532,000 in Q2
7 Sep 18
The number of mortgage inquiries also hit a three-year high.
Millennials drive credit card growth as average balance hits $39,000 in Q2
6 Sep 18
They hold a fourth of the city’s total card balances.
Fosun International to list Club Med unit in Hong Kong
6 Sep 18
The company plans to raise up to US$700m.
Hong Kong shakes up lending in long-overdue virtual banking push
5 Sep 18
Fintechs and telco firms are lining up to get a cut of the city's banking market.
Court of Final Appeal upholds regulatory action against Moody's
4 Sep 18
Moody’s published a 2011 report that flagged risks at certain Chinese companies.
Exchange Fund assets up to $4.14t in July
4 Sep 18
Both foreign currency and Hong Kong dollar assets rose.
Hong Kong and Singapore private banks wage war for wealth managers to lure Asia's crazy rich
4 Sep 18
Banks are willing to offer pay hikes between 30-45% to secure the best talent.
Hong Kong's aggregate balance expected to hold above $50b in end-September
4 Sep 18
The HKMA drained further liquidity after buying $14.57b last week.

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