Hong Kong’s retail banks posted 7.3 per cent pre-tax profit growth last year, as rising bad debts and a narrower net interest margin offset growing income from wealth-management services. The city’s 30 retail banks recorded lower growth in aggregated pre-tax profit than in 2024, when profits increased 8.4 per cent, according to data from the…
Hong Kong’s de facto central bank reached out to retail banks on Friday for input on how lenders and their customers should share responsibility for losses when the customers fall victim to scams, as such cases continue to rise in the city. As part of an industry consultation process, the Hong Kong Monetary Authority (HKMA)…
The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, said it had no plans to establish a “bad bank” to absorb troubled debt in the financial system, saying that the local banking sector remained healthy and profitable. “Overall, banks in Hong Kong maintain a healthy balance sheet; their credit risk is manageable…