Frances Gagua
Bank of East Asia seen to cut commercial real estate over the next two years
Bank of East Asia seen to cut commercial real estate over the next two years
The bank has shifted its focus from real estate to manufacturing, retail trade, and technology.
HSBC’s net profit down 2% to $17.7b in H1; dividend is $0.10
Gains from the sale of its Canada and France businesses were offset by impairments.
Wing Tai braces for up to $236.7m loss in H1
Impairment provisions and change in property values totalled over HK$1b.
HKMA preparing law amendments for proposed two-tier bankings system
The central bank has published results of its consultation and new parameters added.
HKMA rules out new virtual banking licenses
Competition is keen in the market and enquiries have declined.
Fusion Bank unveils business loans with up to $5m financing
One loan is for businesses at least three years old.
Mox Bank opens platform to crypto-related investing
Mox Invest users can access and invest in crypto ETFs.
Hong Kong a ‘pivotal global financial hub’: Knight Frank
Its urban prosperity is the best amongst new wealth hubs.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
Hong Kong banks expand fraud alert system to retail transactions
Customers will receive alerts for “high fraud risk” fund transfers, amongst others.
HKIA rolls out smartphone express bag drop service
The service is available to all passengers in Hong Kong.
ZA Bank enables users to earn 8% p.a. Savings rate by walking daily
Users must complete fitness challenges in August.
Hang Seng Bank’s profits up 1% to HK$11.3b in H1
Net interest income and net operating income both rose.
BOCHK to conduct system maintenance on 4 August
Some services will be unavailable until 12NN.
Eddie Yue reappointed chief exec of Hong Kong central bank
His annual fixed pay is $7.4m for the five-year term.
Hong Kong offers rent-free shop premises for start-ups
The programme will run for 7 months.
HK inks consultancy pact to build East Kowloon eco-transit system
The green mass transit system will span 7 kilometers in total.
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