Hong Kong
HKMA proposes simplification of three-tier banking system
HKMA proposes simplification of three-tier banking system
It aims to simplify DTCs to second-tier institutions.
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.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
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.
HSBC’s profits after tax dip 2% to $17.7b in H1
The bank recognized a $1.2b impairment for the sale of its Argentina business.
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.
CashOn launches digital currency lending matching platform in Hong Kong
CashOn connects customers to licensed financial institutions.
KPay merchants can now accept payments from HSBC’s PayMe app
Over 33,000 merchants in KPay’s Hong Kong network can now accept PayMe payments.
ZA Bank rolls out reserve banking services to stablecoin issuers
It has on boarded RD InnoTech and is onboarding 10 other issuers.
Standard Chartered bolsters private banking team in Hong Kong
Two managing directors and three executive directors are joining the team.
Hong Kong’s ZA Bank welcomes planned stablecoin regulatory regime
The bank surpassed $1b in transfer turnover from Web3 clients in 2023.
Hong Kong process with plan to regulate stablecoin issuers
It has published a consultation paper based on 108 submissions.
Citi Hong Kong unveils IADS-powered Wealth 360
Customers can view their deposit accounts across different bank in one place.
DBS Hong Kong has sufficient buffers for property downsides
The bank is expected to maintain strong capitalisation and profitability.
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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