Hong Kong

Lender capitalises on Beijing's encouragement for foreign firms to offer shares after regulations become clear.

HSBC sees BoCom's fundraising move as opportunity to add its 20% stake and increase China investments.

Group Chairman Stephen Green says the decrease is part due to the reversal of fair value accounting gains on the bank's own debt.

Profit surge from US$5mln in 2008 is attributed to earnings in securities trading.

Bank of East Asia's consolidated profit after taxation reached US$339.7 million for 2009.

Standard Chartered said it is planning to hire 500 more employees this year for its wealth management business in Hong Kong in time for Asia's wealth surge.

Following a newspaper article saying the lender may raise more than 20 billion yuan, or $2.9 billion, in a rights offer, Bank of Communications Co. shares dropped to their lowest in more than three months in Hong Kong trading.

Standard & Poor's assigned its 'BBB+' rating to BOCHK’s proposed U.S. dollar-denominated subordinated notes due 2020.

Michael Thomas Pratt will succeed Stefano Paolo Bertamini as Director of Standard Chartered Bank Hong Kong effective 1 February.

BEA China became the first locally-incorporated foreign bank in China to open a data centre.

BEA China followed the “cross-location” trend in Foshan with the opening of its sub-branch. The bank group became one of the first mainland-incorporated foreign banks to open a “cross-location” sub-branch in Guangdong Province.

The Bank of East Asia Limited has launched four constituent funds under its Mandatory Provident Fund schemes.

Movement from London to Hong Kong will enable the lender to concentrate on Asian markets.

New touchscreen ATMs with personalisation functions were introduced in seven HSBC sites across Hong Kong. Taking the lead in personal financial services, the ATMs offer new functions including a simplified screen flow process, personalised settings, a bill payment barcode reader and full colour screens.

Standard & Poor's affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Dah Sing Bank. The outlook on the long-term rating is negative. S&P also affirmed the issue ratings on the issues under DSB's medium-term note program. All the ratings were removed from CreditWatch, where they had been placed with negative implications on 24 July 2009. At the same time, it affirmed the 'C+' bank fundamental strength rating on DSB.

Minsheng shares dipped 3 percent during IPO as Beijing reportedly pressured banks to increase capital adequacy ratio.