Guess which bank led the pack with total assets of HK$5.6t.
According to KPMG’s Banking Survey 2012, while economic conditions in Hong Kong were generally favourable in 2011, banks operated in a challenging environment. The slow GDP growth combined with the increasingly uncertain investment market has led to slowing activity in the banking sector.
Asian Banking and Finance came up with this list of top 10 Hong Kong banks by total assets as of fiscal year 2011 based on the said survey. We also compiled some information from each bank’s 2012 annual reports.
HSBC led the pack with total assets of HK$5.6t in 2011. Bank of China (Hong Kong) was a distant second with HK$1.68t.
Completing the top 5 are Hang Seng Bank (HK$975b), Standard Chartered Bank (Hong Kong) (HK$853b) and Bank of East Asia (HK$611b).
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