, Hong Kong

UBS’ takeover of Credit Suisse ‘insignificant’ to HK’s banking sector: HKMA

The total assets of Credit Suisse’s HK branch represent less than 0.5% of the local banking sector's.

UBS Group AG’s (UBS) acquisition of Credit Suisse AG will be “insignificant” to the local banking sector of Hong Kong, according to the Hong Kong Monetary Authority (HKMA)

In a statement, the central bank said the total assets of Credit Suisse AG, Hong Kong Branch amounted to about $100b, representing less than 0.5% of the total assets of the Hong Kong banking sector.

To add, the Swiss bank’s licensed corporations are also not part of the top 10 active brokers in the local stock and derivatives market.

“As of the end of February 2023, Credit Suisse was the 9th largest listed structured product issuer, accounting for about 4% of the total market in terms of market value of outstanding units.  Their overall exposures to the Hong Kong market are not significant,” HKMA said.

Credit Suisse operates in Hong Kong through its HKMA-supervised branch, and through two licensed corporations supervised by the Securities and Futures Commission (SFC).

All three remain operational and the bank’s customers can access their deposits.

The central bank assured that Hong Kong’s banking sector is “resilient with strong capital and liquidity positions.”

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Hong Kong sets higher investment threshold for residency
Whilst permanent residency in Hong Kong now requires a minimum outlay of $30m (US$3.83m), the range of permissible investments has been expanded.
MBA programmes in Hong Kong live up to financial hub status
MBA providers hop on experiential learning and progressive curriculums to ensure competitive edge in the rapidly evolving business landscape.