Hong Kong
HSBC to sell its $9.3b stake in Ping An Insurance
Ping An to be divested despite its profitability.
IFC to lend more to Asian banks
International Finance Corporation has US$5 billion to support bank trade financing.
Wing Hang Bank to reward customers with up to HK$1,000
That is for new customers who register to the bank's auto-payroll service.
Bank of China (Hong Kong) to launch private banking services
You’re entitled if you have at least $2 million to invest.
JP Morgan launches direct custody & clearing platform in Hong Kong
Michael Drumgoole was appointed as Asia Pacific head of the business.
Hang Seng Bank to unveil contactless payment service by 1H13
PCCW mobile will be its partner.
StanChart set for another good year
Operating profit grew less than 10%, however.
Islamic finance bill up for approval
Hong Kong takes a major step in advancing Islamic financing.
Hong Kong banks to suffer from profit decline post QE3
Banks will struggle to write new mortgages to offset an annual repayment rate of ~15%.
This is how Hong Kong banks fared post QE1/2 in 2008
System deposit balance surged to HK$7tn.
Hong Kong Islamic finance bill gears up for 2013
Taxation framework for 'sukuk' are under way.
Chongqing Rural Commercial Bank's net profit up 28.1% to RMB1.36bn
But the 51% slump in net fee income was disappointing.
Analyst worried over BOCHK's unsustainable trading income-driven revenue
But pre-provision operating profit rose by 5% to HKD18.9b in the first nine months of 2012.
Raiffeisen Bank International now in Hong Kong
Austria’s third largest bank can now do business in Hong Kong.
Raiffeisen Bank International AG gets banking license in Hong Kong
This brings the number of licensed banks in Hong Kong to 155.
Hong Kong banks on their own in Basel III
Hong Kong banks will have to turn to local fund-raising strategies to meet Basel III’s tougher liquidity requirements.
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