Hong Kong
Hang Seng signs renminbi deal with 2 banks
Hang Seng Bank signed an agreement with Bank of China (Hong Kong) on renminbi settlement and clearing services for cross-border trade.
Hang Seng signs renminbi deal with 2 banks
Hang Seng Bank signed an agreement with Bank of China (Hong Kong) on renminbi settlement and clearing services for cross-border trade.
HSBC first to settle cross-border renminbi trade
HSBC, in cooperation with Bank of Communications or BoCom, became the first foreign bank to settle a cross-border trade in renminbi.
Standard Chartered among first banks in renminbi cross-border trade
The Standard Chartered Bank Hong Kong signed the agreement for the implementation of Renminbi cross-border trade settlement pilot scheme with Bank of China.
Hong Kong boosts role as renminbi centre for China
Hong Kong banks will encourage customers engaged in trade between Hong Kong and Mainland China to settle trade transactions in renminbi.
BEA forges collaboration with Criteria and “la Caixa”
BEA has concluded a series of business cooperation agreements with Criteria CaixaCorp and Caja de Ahorros y Pensiones de Barcelona.
HSBC boosts SME loan fund by $516M
HSBC is adding US$516 million to its SME loan fund in Hong Kong, the second increase this year, for a total of US$1.548 billion in lending since December 2008.
BEA takes action against another fraudulent website
BEA reported the existence of the fraudulent website to the Hong Kong Police and the Hong Kong Monetary Authority.
HSBC segregates general banking from investment services
HSBC is implementing new measures at its branches to segregate its general banking service areas from investment service areas. This is in line with new investor protection recommendations from the Hong Kong Monetary Authority. The new measures encompass clear zoning at HSBC branches between general banking and investment service areas.
HSBC, Bank of China are top HK market makers
The Hong Kong Monetary Authority placed the HSBC and the Bank of China at the top of new sets of league tables of market makers for bills and notes, respectively.
The blind to enjoy ATM convenience in Hong Kong
Eighty-two ATMs with protruding symbols will be available to the blind in Hong Kong on a pilot basis.
Wing Lung Bank chalks up corp banking growth
Hong Kong’s Wing Lung Bank said its corporate banking division expects to grow corporate loans 30 percent this year.
BNP Paribas gets Hong Kong custodian licence
The Hong Kong branch of BNP Paribas Securities Services has been granted a banking licence by the Hong Kong Monetary Authority. Bruno Campenon, Head of BNP Paribas Securities Services, described their new business plan as "the development of a unique custodian bank in the Hong Kong market."
HK Banks get green light for mainland “sub-branches”
HK Bankers will be scrambling all over smaller towns in China now that they are approved to open an unlimited number of sub-branches in China from October 1.
Cheang to replace Engel as HSBC regional director
Louisa Cheang, currently Head of Personal Financial Services Hong Kong, leads the list of HSBC’s senior executive appointments, which are still subject to board and regulatory approvals. She is slated to succeed Mr. Conrado Engel as Regional Director Personal Financial Services, Asia-Pacific effective 1 June 2009.
HK banks busted, sold Lehman bonds to mentally ill
And they almost got away with it. In yet a stunning development, the Hong Kong Monetary authority has identified 102 cases of banks selling anything to anyone, including elderly and mentally impaired. Great for commissions and fee income, not so good for the customers.
Hang Seng's CFO to resign
Patrick K W Chan will resign as the Hang Seng Bank's Chief Financial Officer effective 8 July 2009. He will pursue other career prospects outside the financial industry and will not offer himself for re-election at the Bank’s annual general meeting to be held on 6 May 2009. Hence he will cease to be an Executive Director of the Bank.
Hang Seng opens dedicated securities trading centre
Hang Seng Bank enhanced its securities services with its new trading centre at its main branch in Hong Kong. Called the Hang Seng Securities Select Customer Trading Centre, it allows selected customers to trade with ease by contacting managers through exclusive trading hotlines or visiting the Centre. The dedicated relationship managers can provide information about local securities, Shenzhen and Shanghai B shares, and selected Singapore securities with ease.
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