Hong Kong’s six biggest lenders lowered their prime lending rates for a third time this year, trimming borrowing costs to the lowest level in more than two years. HSBC and subsidiary Hang Seng Bank said they would trim their prime rate by 12.5 basis points to 5.25 per cent from Friday, the lowest since August…
HSBC intends to concentrate on growing its wealth clientele in Hong Kong by utilising its distinct location in the area to cater to foreign customers. Tony Leung Chiu-wai, a well-known actor, has been chosen as the Hong Kong ambassador for its new wealth programme, “Wealth. Growing at every stage.” With an estimated 80 million more…
The Hong Kong government’s latest offering of HK$50 billion (US$6.4 billion) in so-called Silver Bonds received a positive response as it opened for subscription on Monday, according to bank managers. The bonds, for buyers 60 years of age and above, proved popular as they offer guaranteed returns of 4 per cent per year while allowing…