Hong Kong
Home loans in negative equity dropped to $25.03b in Dec 2024
Home loans in negative equity dropped to $25.03b in Dec 2024
The number of cases fell, but the three-month delinquency ratio rose.
Hong Kong’s total deposits up 7.1% in 2024
Renminbi deposits fell, whilst RMB remittance rose in December.
Hong Kong banks to focus on resilience, costs in 2025: KPMG
Interest rate reductions are likely to be slower.
Hang Seng Bank fined HK$66.4m for overcharging, sales misconduct
It reportedly received HK$22.4m in excess benefits and fees, the HKMA and SFC said.
Alipay, Macau Pass expand partnership for Lunar New Year
Macao Government Tourism Office estimates an average of 185,000 daily visitors.
Aluminum Corporation of China enters Hang Seng, CSI index
This brings the total number of constituent companies to 50.
WeChat Pay HK extends services to small merchants in Mainland
The system automatically converts Renminbi payments to Hong Kong dollars.
Hong Kong fintech association unveils AI advisory council
It will serve as the industry voice to share best practices, amongst others.
Wise raises money transfer limits, lowers global average fee
Transfer limits to WeChat recipients is now at RMB50,000.
HKMA, AMCM unveil direct linkage for cross-border bond investment
This initiative aims to promote the development of bond markets in both regions.
Fusion Bank, WeBank ink commercial cooperation agreement
Fusion Bank can utilise WeBank’s digital banking tech.
Employment, not prices, to weigh on Hong Kong banks’ loans
Banks will face ‘minor but manageable’ pressure on such portfolios.
Hong Kong leads APAC loan market with US$113.3b in 2024
Offshore loans for Chinese corporates drove Hong Kong’s loan volume, totalling to US$66.7b or a 19.5% increase compared to 2023.
DBS welcomes deepening financial market ties between Hong Kong, China
It will broaden overseas investment channels for mainland institutional investors, a DBS managing director said.
WeLab Bank achieves first breakeven in Dec 2024
WeLab Bank credited it to its expanded loan book.
Hong Kong launches incubator for banks’ adoption of DLT
Tokenised deposits will be a core focus upon the incubator’s inception.
Nine in 10 SMEs enhances brand image through HKSMEA, Dah Sing Bank initiative
The survey showed that 72.2% acknowledged funding support for certification.
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