The Hong Kong Monetary Authority has warned banks in the city over the rising risks of property lending, according to the Oriental Daily, just as home prices notch up another record in the world’s most expensive housing market and Citigroup Inc. sees an ... ( read original story ...)
Bank of China beats estimates to post highest profit rise among big state-owned banks
BOC’s Hong Kong subsidiary, Bank of China Hong Kong, more than doubled its profits in 2016 to HK$55.5 billion thanks to the HK$30 billion gain from the sale of its interest in Nanyang Commercial Bank last year. Once this and other one off elements were ... ( read original story ...)
Hong Kong trade finance goes Deloitte-fully blockchain
and trade finance banks in Hong Kong have developed a distributed ledger technology (DLT) proof of concept (PoC) for trade finance. Industry participants include Bank of China (Hong Kong), the Bank of East Asia, Hang Seng Bank, HSBC and Standard Chartered ... ( read original story ...)
Hong Kong’s richest man in deal to buy Reliance Home Comfort for $2.1 billion
Li Ka-Shing, Hong Kong’s richest man, is adding to his assets in Canada with the purchase of Reliance Home Comfort from Alinda Capital Partners for $2.82 billion. The purchase of the water heater and air conditioner firm will be made through CKP (Canada ... ( read original story ...)
Reliance Home Comfort sold for $2.8B to Hong Kong firm
One of Hong Kong's richest families is planning to buy Reliance Home Comfort, an Ontario-based company that services home furnaces and air conditioning systems. Alinda Capital Partners is selling Reliance for $2.82 billion Cdn to a subsidiary of Cheung ... ( read original story ...)