Hang Seng Bank Ltd. reported a 27% drop in its 2022 net profit due to the increase in expected credit losses to reflect higher risks for borrowers in mainland China's commercial real estate sector.
Hang Seng Bank’s 2022 Net Profit Fell on Higher Expected Credit Losses
Hang Seng Bank Ltd. reported a 27% drop in its 2022 net profit due to the increase in expected credit losses to reflect higher risks for borrowers in mainland China's commercial real estate sector.
HSBC says pre-tax profits slip to US$17.5b in 2022
Banking giant HSBC on Tuesday announced a dip in 2022 pre-tax profits last year, calling the ongoing impact of Covid-19 the main factor in its ...
HSBC reports fourth-quarter pre-tax profit of $5.2 billion, beating estimates
HSBC said it expects net interest income of at least $36 billion in 2023. Hong Kong-listed shares of HSBC were about 1% lower before the release, but were nearly 2% lower in the afternoon. Stock chart ...
HSBC pledges shareholder bonanza after profit nearly doubles
The Asia-focused bank, which counts Hong Kong as its biggest market, also said it will return to paying quarterly dividends in 2023, and would bring forward the consideration of fresh share buybacks ...
HSBC logs sharp jump in Q4 profit, flags special dividend
The exit from Canada was the latest move towards cutting costs. Asia by far remains HSBC’s biggest moneymaker, and accounted for over 78% of its earnings in 2022. Hong Kong is the bank’s biggest ...
Hong Kong under pressure to cut spending in budget as deficit soars
Hong Kong is under pressure to rein in spending when it unveils its annual budget on Wednesday, after racking up huge fiscal deficits during the COVID-19 pandemic and as it struggles to kick-start the ...
Hong Kong Moves to Bar Overseas Lawyers From Security Trials
Hong Kong’s leader moved to submit legislation that will give him veto powers over the use of foreign lawyers in national security cases.
Hong Kong gov’t proposes curb on overseas lawyers participating in national security cases
The Hong Kong government has submitted a proposal to introduce legislative amendments which would require local courts to obtain a certificate from the city’s leader before considering whether to ...
Hong Kong stocks slip as Chinese tech giants step up rivalries, market seeks corporate earnings to sustain rally
JD.com and Meituan are intensifying competition with industry rivals to win over consumer dollars HSBC to issue its fourth quarter report card today, with pre-tax profits likely to almost double from ...
Five of Hong Kong’s best sustainable restaurants
HK might not be at the forefront of environmental friendliness, but some of its leading chefs are seeking to redress that — to delicious effect ...
Hong Kong’s Crypto Hub Ambitions Win Quiet Backing From Beijing
Hong Kong rolled out the red carpet for crypto businesses to help revitalize the embattled financial hub. Signs are now emerging the push has under-the-radar backing from Beijing, providing impetus ...
Singapore’s soaring rents undermine bid to oust Hong Kong as Asia’s finance hub
We’ll send you a myFT Daily Digest email rounding up the latest Singapore news every morning. Two years ago, Lauren arrived in Singapore from Hong Kong wanting more living space for her growing family ...
So Hong Kong is facing big challenges. What’s new?
Since the 1980s alone, Hong Kong has grappled with stock and property market crashes, financial crises, protests and pandemics The city is uniquely defined by its challenging history, where people ...