Tag: banking

The bank no longer has an IPO sponsorship license in Hong Kong. Standard Chartered said it has spent $2.1 billion on restructuring since last November. Standard Chartered is getting rid of loans that were made in the past but are now outside a new risk ... ( read original story ...)

The court heard that Jutting was moved by Bank of America Merrill Lynch from London to Hong Kong in September 2013, allegedly because of a dubious tax project he undertook in London that brought the bank under scrutiny. It was during his year working in ... ( read original story ...)

Bank of America, Hong Kong, where Jutting worked. Wikimedia Commons The defense has also argued that Jutting, a 31-year-old Cambridge university graduate, felt huge stress during his banking career. Reading said Jutting only worked for 10-15 days in the ... ( read original story ...)

The Hong Kong Securities and Futures Commission has fired a warning shot at banks, with both Standard Chartered and UBS being investigated for their roles as IPO sponsors. The move has left other banks wondering which one will be next and comes at a time ... ( read original story ...)

Turnover totaled 54.88 billion HK dollars (about 7.08 billion U.S. dollars). The Hang Seng China Enterprises Index moved down 37.86 points, or 0.40 percent, to close at 9,482.01. Banking giant HSBC, which accounts for the largest weighting of the Hang Seng ... ( read original story ...)

"The Hong Kong SAR government has not requested the Standing Committee of the National People’s Congress to exercise its power of interpretation." Any intervention by Beijing in the case would increase concern about the financial hub's autonomy and ... ( read original story ...)

Hang Seng Bank is the third largest and one of the best managed in Hong Kong, but its financial position slowly deteriorates due to the slowdown in China. In terms of Price/Earnings and Price/Book Value, Hang Seng's stock is very expensive, particularly ... ( read original story ...)

Hong Kong’s financial services sector will require up to 5 million more square feet of office floor space over the next 10 years, driven by the growth of mainland Chinese banks, a new report says. The office space demand stems from the 55,000 jobs in ... ( read original story ...)

HSBC and the Hong Kong Applied Science and Technology Research Institute (ASTRI) launched a research and development innovation laboratory on Monday, the latest in a series of initiatives to boost the development of financial technology (fintech) in the city. ( read original story ...)

Hong Kong, a city commonly associated with finance and wealth, has one of the highest proportions of people enslaved across Asia, a new report has found. At least 29,500 people out of a population of more than seven million are trapped in modern slavery in ... ( read original story ...)

Hong Kong stocks finished lower on Friday morning, as investors cautiously awaited a slew of earnings results from Chinese banks. The Hang Seng Index dropped 0.43 per ... with ICBC slipping 0.42 per cent, Bank of Communications down 0.3 per cent, and ... ( read original story ...)

HK$22,336 million, an increase of 2% over the same period last year. For the third quarter of 2016, the operating profit before impairment allowances dropped 10.5% quarter-on-quarter to HK$7,411 million. Net operating income before impairment allowances ... ( read original story ...)

Bank of China (3988) said net profit rose 2.48 percent year-on-year to 134.81 billion yuan (HK$154.35 billion) in the first nine months of this year, despite weaker profitability and rising bad loans. The net interest margin, a measure of banks ... ( read original story ...)

HONG KONG--BOC Hong Kong (Holdings) Ltd. (>> BOC Hong Kong (Holdings) Ltd) said late Wednesday its operating profit before impairment allowances for the January-September period rose 2% from a year earlier to 22.34 billion Hong Kong dollars (US$2.88 ... ( read original story ...)