Hong Kong
HSBC profits crash 53% to $6b in FY2019
HSBC profits crash 53% to $6b in FY2019
A goodwill impairment of $7.3b dragged down their profits.
HSBC to shed $100b in assets in massive revamp
About 35,000 jobs may be axed over the next three years.
ZA Bank cools off price war talks: report
It offers an introductory deposit rate of 6.8%.
HSBC faces third major overhaul
Biggest market Hong Kong is hit with anti-government protests and the COVID-19 outbreak.
Hang Seng Bank floats relief measures for COVID-19 affected clients
Principal payment deferrals are offered for SMEs and commercial banking clients.
Hong Kong banks' earnings to remain weak as coronavirus cripple operations
Around 20-30% of bank branches will likely temporarily close or shorten operating hours.
Majority of Gen Z use credit cards: survey
They have a median balance per consumer of $555 (HKD4,316).
HSBC earmarks $3.9b in liquidity relief for businesses
It is easing borrowing terms to aid companies affected by the coronavirus outbreak.
HSBC to slash senior managerial roles, presence in smaller markets
It is part of a strategic plan by interim CEO Noel Quinn to boost the bank’s profitability.
Credit Suisse calls off Hong Kong meet over coronavirus outbreak
The event was originally scheduled on 25-27 March.
Mastercard, Dah Sing Bank, BBPOS launch mobile payment app for SMEs
Tap on Phone allows merchants to accept contactless card payments.
Hong Kong banks' profits threatened as nCov drags on credit demand, interest margins
Average credit losses are estimated to be 25bp-30bp.
Bank of East Asia closes 20 branches due to coronavirus
ATMs located within closed branches will also be unavailable.
HSBC mulls fleeing Turkey amidst bearish economy
The bank will sell its operations in the country if it can find a local buyer.
Banks urge Hong Kong staff to work from home after travels from China
Global banks are stepping up their measures amidst the coronavirus scare.
Chart of the Week: Hong Kong card payments to hit $7.67b by 2023
The number of card payments is expected to hit 1 billion in 2020.
Hong Kong's ZA Bank offers 6% introductory rate for deposits: report
The virtual bank’s rate is said to have outpaced the big traditional players’ offers.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
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Young Malaysians, big money mistakes: What’s going wrong with Islamic financial behaviour?