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Hang Seng Bank

View of Hong Kong from the Hong Kong Monetary Authority (HKMA) headquarters at IFC in Central district on October 9, 2024. Photo: May Tse
Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

Hong Kong economy

Hong Kong interest rate cut gives small businesses ‘more room for survival’

Banking & finance

HSBC’s Elhedery gets close and personal with Hong Kong staff, customers

Hong Kong economy

Hong Kong won’t revive pandemic-era guaranteed loan scheme for SMEs: commerce chief

‘As the economy gradually recovers, it’s a heavy burden on the government if we maintain a 100 per cent loan guarantee,’ Algernon Yau says.

A quiet bar in Lan Kwai Fong, Central. The government has stopped accepting applications for the “Special 100% Loan Guarantee Scheme”. Photo: Robert Ng
Banking & finance

Hong Kong banks pledge to ease loans in HKMA’s plan to help SMEs

Hong Kong’s business owners are cash-starved, as interest rates hover at the highest level in almost two decades.

Hong Kong economy

Opinion | A HKEX shift into data and connectivity could put Hong Kong on top again

From Nasdaq to the LSE, data is no longer a business by-product but an asset that can power the next generation of global capital markets.

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Banking & finance

Finance firms expand services for rich clients, tout city’s family office push

Sun Life has teamed up with medical services operators to capture high-net-worth customers in the Greater Bay Area, while Hang Seng Bank added new features for its Prestige customers.

(From left) Hang Seng Bank’s head of wealth management and personal banking Rannie Lee and CEO Diana Cesar are joined by actress Sandra Ng and director Vincent Kok at the launch of the Prestige banking services in Hong Kong on Wednesday. Photo: May Tse
Hong Kong Monetary Authority (HKMA)

Hong Kong keeps base rate steady as Fed dials back signal

Hong Kong’s de facto central bank kept its base rate unchanged for the seventh time as traders in the financial markets shift their focus to September in expectation of the first cut in borrowing costs.

Banking & finance

Developer Times China faces winding-up petition from Hang Seng Bank in Hong Kong

Debt-laden property developer Times China Holdings is faced with a winding-up petition as it becomes the latest property company creditors are seeking to liquidate.

Hong Kong

Editorial | New MPF platform to offer Hong Kong investors more control over portfolios

The dozen MPF account providers are due to complete the shift to the new electronic platform, which allows for day-to-day adjustments of holdings, by the end of 2025

The Hong Kong Mandatory Provident Fund Schemes Authority headquarters. The MPF suffered losses in 2021 and 2022, but avoided a third year of losses with a 3.5 per cent gain in 2023. Photo: Enoch Yiu
Banking & finance

Exclusive | CBDC pilot boosts Hong Kong’s blockchain, international hub credentials: Yue

‘We’ve always been at the cutting edge of the whole blockchain evolution, including CBDCs,’ Yue, CEO of the Hong Kong Monetary Authority, the city’s de facto central bank, tells the Post.

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The HKMA, the BIS and most central banks see ‘tokenisation as a good part of the future financial market’, Yue says. Photo: Xiaomei Chen
Greater Bay Area

Hong Kong’s biggest banks roll out new cross-border wealth management products

HSBC, Standard Chartered and Hang Seng Bank are rolling out more products tied to the Wealth Management Connect scheme amid a drive by Beijing to boost the Greater Bay Area’s financial markets.

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Hong Kong

Editorial | HSBC commitment to Asia welcome as it profits from region

With the Fed expected to start cutting rates before the end of the year, margins for lenders will narrow, potentially exposing threats in other areas. Hong Kong’s banks have made provisions and shored up balance sheets to ward off China property risk

Greater Bay Area

GBA at 5: HSBC, BEA among Hong Kong lenders eyeing Qianhai opportunities

Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.

Qianhai is already home to about 10,000 Hong Kong companies, and more than 75,000 Hong Kong residents live and work there. Photo: Shutterstock Images
Banking & finance

Year of the Dragon: most popular Chinese zodiac sign dominates lai see packets

Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.

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‘The Year of the Dragon holds special significance in markets like Hong Kong and Singapore,’ says Geraldine Walsh at Janus Henderson, a global fund management firm. Photo: SCMP Pictures
Banking & finance

Hong Kong banks line up fireworks dinners, lucky draws to entice new clients

Hong Kong banks have launched marketing campaigns to kick off the Year of the Dragon. The giveaways include fireworks dinners, lucky draws and air tickets to lock in new clients and entertain wealthy customers.

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Hong Kong Monetary Authority (HKMA)

Hong Kong banks hold rates steady as Fed keeps options open on cuts

The banks’ decisions followed the Hong Kong Monetary Authority (HKMA), which left the city’s base rate at 5.75 per cent hours after the Fed kept its target range unchanged in its first policy move of the year.

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Digital currencies

E-CNY: HSBC, Standard Chartered jump on China’s digital currency bandwagon

The China branches of Hang Seng Bank and Fubon Bank are also in the first batch of overseas banks to join more than 40 state-owned banks in launching their services on the e-CNY app.

A visitor displays a cup of coffee purchased with China’s digital yuan at the 6th Digital China Summit in Fuzhou, southeast China’s Fujian Province, on April 26, 2023. Photo: Xinhua
Banking & finance

Hong Kong banks roll out incentives to attract mainlanders during ‘golden week’

Tickets to Disneyland, afternoon tea at The Peninsula and fine dining with wine pairings – these are just some of the incentives with which major banks such as HSBC and Standard Chartered plan to woo high-flying mainland Chinese customers during the ‘golden week’ holiday.

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Banking & finance

HSBC’s second-quarter profit beats estimates on gains from higher interest rates

HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.

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Banking & finance

Higher rates to drive profits as Hong Kong banks prepare to report results

Higher interest rates are expected to help drive profit gains at big Hong Kong lenders, including HSBC and Standard Chartered, in second quarter as US Federal Reserve prepares to hikes rates further.

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Pedestrians walk in front of a HSBC advertisement in Kwun Tong on July 8. Photo: Xiaomei Chen
Banking & finance

Brace for mortgage pain as HSBC, Hong Kong peers seen raising rates: survey

Consumers might need to brace for bad news next week, with analysts predicting banks will raise their prime rates after the Federal Reserve’s projected rate hike. That could hurt the city’s nascent economic rebound.

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Hong Kong’s biggest banks including HSBC are likely to bump up their prime rates by 12.5 basis points to 25 basis points, most analysts surveyed by the Post said on Monday. Photo: Yik Yeung-man
Banking & finance

Hang Seng joint-venture fund to launch 2 products to tap cross-border opportunities

Hang Seng Qianhai Fund Management, a joint-venture of Hang Seng Bank and local authorities in Shenzhen Qianhai, is launching more diverse products to capture cross-border opportunities in China.

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Hong Kong politics

HSBC among Hong Kong banks that close accounts tied to opposition group: members

Four core League of Social Democrats members have personal accounts at several banks closed, as well as three business accounts at HSBC.

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Banking & finance

HSBC investors reject proposal to spin off Asia business, raise dividends

A group of minority shareholders had called for the bank to consider radical change, including spinning off its Asia business. HSBC’s biggest shareholder Ping An Insurance Group has also been pushing the lender to make changes to enhance shareholder value.

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Minority shareholders had called for the bank to consider radical change, including an overhaul of its structure. Photo: Jelly Tse
Banking & finance

Ping An continues war of words with HSBC over proposed Asian arm listing

Ping An Insurance Group, China’s biggest insurer, said its recommendation to list HSBC’s Asian operations in Hong Kong would not result in value destruction or higher costs for the bank.

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A pedestrian walks past HSBC’s branch on Pedder Street in Central in July. Photo: Yik Yeung -man
Banking & finance

HSBC pushes back on Ping An’s claims on spin-off of Asian business

Structural reforms proposed by Ping An Insurance Group, including a spin-off of HSBC’s Asian business, would “significantly dilute” HSBC’s international business model, the London-based lender said.

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Banking & finance

Ping An calls for HSBC to separately list Asian arm in Hong Kong

Ping An In, HSBC’s biggest shareholder, said the bank should remain a majority shareholder of a separately listed Asia business as part of a restructuring, similar to its majority stake in Hang Seng Bank.

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Hang Seng Bank
Hang Seng Bank
Established in 1933 as a money-changing shop in Hong Kong, Hang Seng Bank is the second largest bank in Hong Kong. The bank is majority owned by the HSBC Group through The Hongkong and Shanghai Banking Corporation and is a Hang Seng Index constituent stock.
Chairman / President
Diana Ferreira CESAR
CEO / Managing Director
Diana Ferreira CESAR
CFO / Finance Director
SAW Say Pin
Industry
Finance and insurance
Website
hangseng.com
Headquarters address
83 Des Voeux Road, Central, Hong Kong
Stock Code
SEHK:0011
OTC Pink:HSNGY
Year founded
March 3, 1933
last updated:
30 September, 2024
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