Financial Services
Hong Kong banks' asset quality battered by COVID-19 and protests
Hong Kong banks' asset quality battered by COVID-19 and protests
Exodus of corporate clients, mortgage risks, and dropping credit card use pose a big threat on revenues.
Bankers face ‘new normal' as they return to offices
Despite the measures, some have expressed relief at physically seeing their colleagues again.
Less than 20% ‘understand' fintech apps: survey
The majority of Hong Kong use such apps for personal finance.
Regulations to quell slight uptick in banks' credit losses
Credit losses will notably decline in 2021.
Manulife's Q1 core earnings climbed 10% to $1.4b
In-force business growth and higher sales spurred the growth.
AIA launches first robotic investment choice service
This will help clients purchasing new ILAS policies to build their investments.
HSBC Life launches video-conference insurance service
Retail banking clients registered in Personal Internet Banking can opt in.
Mid-sized banks most vulnerable to loan losses if pandemic persists: Moody's
Their exposure to SMEs and unsecured loans heightens the risks.
AXA releases first policy with dementia benefit
The plan has an annuity period of 10 to 20 years starting at the age of 50.
Citibank launches special personal loan
Clients can apply for loans up to $30,000.
Insurance regulator grants virtual licence to OneDegree
It is the first to offer non-life insurance directly on a digital platform.
Citi rolls out relief measures for customers
Clients are offered a one-month maturity extension for import trade loans.
Hong Kong adults more financially literate but show weak money behaviour
Younger adults are more likely to overspend and end up in debt.
Traditional insurers lead but digital firms are rapidly rising
Virtual insurers are getting out fresh products for underserved segments in the insurance market.
Hong Kong to adopt bankruptcy system
The system would give companies a window to restructure their debt.
HKMA cuts base rate to 0.86%
It had already slashed the rate to 1.5% earlier this month.
Hang Seng Bank to reopen nine branches
Three in Hong Kong Island, three in Kowloon, and three in New Territories.
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