Feb 21 Hang Seng Bank Ltd: * FY attributable profit down 41% to HK$16.21 billion * Fourth interim dividend of HK$2.80 per share * FY net interest income grew by 5% to HK$22.25 billion * At 31 December 2016, our common equity tier 1 capital ratio was 16.6% ... ( read original story ...)
Hong Kong's 'Beef Ball' takes bite out of gender gap
Hong Kong's Chan Yuen-ting will smash another hole through football's glass ceiling when she makes history in the AFC Champions League on Wednesday -- but it couldn't be a tougher debut for the trailblazing female coach. Chan, nicknamed "Beef Ball" and ... ( read original story ...)
Hong Kong police offer protection to newspaper staff after ‘gagging threat’ ahead of leadership election
Democratic Party lawmaker James To Kun-sun said Hong Kong’s press freedom was under threat and he urged the police to do their best to protect the safety of Sing Pao staff. The semi-official China News Agency reported last year that Gu was wanted by ... ( read original story ...)
‘Someone I admire’: three letters of mitigation for convicted former Hong Kong leader Donald Tsang
Donald’s over 40 years of services and contributions to Hong Kong is a matter of public record. Others will speak to his key role in helping Hong Kong weather through stormy financial crises. Here I would refer to his significant contributions to the ... ( read original story ...)
Hong Kong Developers Advance Ahead of City's Budget Speech
Hong Kong property stocks extended gains ahead of the city’s annual budget speech on Wednesday, as some analysts anticipated announcements that would benefit developers. Property companies were the biggest gainers on the Hang Seng Index, with Sun Hung ... ( read original story ...)
Hong Kong stocks fall, HSBC tumbles after profit slump
Hong Kong stocks suffered their biggest one-day loss in a month on Tuesday, hurt by index heavyweight HSBC Holdings PLC after it posted a bigger-than-expected drop in its 2016 profit. The benchmark Hang Seng index erased early gains and ended down 0.8 ... ( read original story ...)
Hang Seng Bank cuts risky China lending after full year profits fall 41pc
Agarwal said the downside risk for Hang Seng Bank would be a sharp increase in bad loans in Hong Kong and China. “Also, a very high interest rate increase would be likely to cause a sharp property price correction in Hong Kong, thereby taking up risk ... ( read original story ...)
Hang Seng Bank full-year profits fall 41 per cent, slightly below forecasts
In addition, Wu said Hang Seng Bank has nearly 80 per cent of its loans concentrated in Hong Kong’s local market, the highest among peers so it would be less affected by mainland bad debt than peers such as Bank of East Asia and Bank of China (Hong Kong ... ( read original story ...)
HSBC's 2016 profit slumps 62 percent on writedowns, Hong Kong shares slide
HONG KONG/LONDON HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. ( read original story ...)
Hang Seng Bank: 2016 Net Profit Down 41% at HK$16.21 Billion
HONG KONG--Hang Seng Bank Ltd. (>> Hang Seng Bank) Tuesday reported a 41% drop in its 2016 net profit partly due to the absence of disposal gain a year earlier, as well as weaker net fee income. The Hong Kong-listed lender, which is controlled by HSBC ... ( read original story ...)
Stocks cautious before annual earnings from HSBC
Hong Kong stocks crept higher in cautious trade on Tuesday morning, with investors preparing for a batch of highly-anticipated corporate earnings due later in the day, including results from top lender HSBC and its subsidiary Hang Seng Bank. The Hang Seng ... ( read original story ...)
HSBC sees full year profit plunge 62% to $7.1bn
HSBC also pointed out it managed to increase market share in Hong Kong and Singapore. The bank confirmed last year it would keep its European headquarters in London, despite Britain's vote to leave the European Union. But announcing the results on Tuesday ... ( read original story ...)
HSBC's 2016 pre-tax profit slumps 62 percent; sets new $1 billion share buy-back
HONG KONG HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates due to one-time charges related to some businesses, and announced a new $1 billion share buy-back. Europe's biggest bank by ... ( read original story ...)
HSBC's Hong Kong shares down 3.5 pct after 2016 profit slump
HONG KONG Feb 21 Shares in HSBC Holdings Plc were down 3.5 percent in afternoon trading in Hong Kong on Tuesday after the bank posted a bigger-than-expected drop in its 2016 pre-tax profit. HSBC reported a 62 percent slump in annual pre-tax profit that ... ( read original story ...)