Financial Services
Bright Smart outlines listing details on SEHK Main Board
Company targets to offer 16,680,000 shares for IPO on August 25.
Bright Smart outlines listing details on SEHK Main Board
Company targets to offer 16,680,000 shares for IPO on August 25.
HKEx profit up 3% to $2.26bln
Exchange to tap growing Renminbi-denominated products whilst it seeks to draw international listings.
ICBC to pay $10.8bln to take Hong Kong unit private
Move can bring more flexibility to tap its resources as the business continues to develop.
Hang Seng sees 30% yuan deposit growth
Lender has raised its loans-to-deposit ratio to 58% behind 1.77% first half net interest margin.
Hong Kong Resources issues $216mln convertible bonds
Move aims to strengthen capital base and accelerate retail businesses expansion in the Greater China region.
Monetary Authority approves Octopus auditor's appointment
Deloitte Touche Tohmatsu to report whether any third parties had access to Octopus cardholders' personal data.
HSBC profit jumps 121% to US$11.1 billion
This record profit excludes tax and is in comparison with the US$6 billion pre-tax profit for the first half of 2009.
Commissioner Woo urges Octopus to improve privacy protection
The company should not collect and disclose excessive personal data, said Privacy Commissioner for Personal Data Roderick Woo.
OP Financial jumps to profit at HK$473.07mln
Net asset value grows 67% behind HK$1.48bln return from Kaisun Energy and HK$323.82mln from China Investment.
Offshore renminbi products take off
Hong Kong’s new renminbi inter-bank market launched as limits on offshore renminbi circulation are being loosened.
StanChart and HSBC to launch higher-yielding RMB products
Regulators sealed agreement allowing HK financial institutions to offer higher returns on yuan savings accounts.
HSBC enables RMB payment for Wealthsave Protection Plan
Product extended to corporate customers as option to settle premiums in RMB or HKD.
DBS Hong Kong to pay Lehman buyers HK$651mln
Lehman Brothers notes buyers classified as having low to medium risk would get money plus interest.
Microfinance in China
Providing banking and other financial services to the poor has always presented particular challenges. By definition, people with little or no money...
HSBC inaugurates flagship centre to support SMEs
Lender posted 42% increase in lending to SMEs and 22% growth in deposits.
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