Hong Kong

BEA has concluded a series of business cooperation agreements with Criteria CaixaCorp and Caja de Ahorros y Pensiones de Barcelona.

HSBC is adding US$516 million to its SME loan fund in Hong Kong, the second increase this year, for a total of US$1.548 billion in lending since December 2008.

BEA reported the existence of the fraudulent website to the Hong Kong Police and the Hong Kong Monetary Authority.

HSBC is implementing new measures at its branches to segregate its general banking service areas from investment service areas. This is in line with new investor protection recommendations from the Hong Kong Monetary Authority. The new measures encompass clear zoning at HSBC branches between general banking and investment service areas.

The Hong Kong Monetary Authority placed the HSBC and the Bank of China at the top of new sets of league tables of market makers for bills and notes, respectively.

Eighty-two ATMs with protruding symbols will be available to the blind in Hong Kong on a pilot basis.

Hong Kong’s Wing Lung Bank said its corporate banking division expects to grow corporate loans 30 percent this year.

The Hong Kong branch of BNP Paribas Securities Services has been granted a banking licence by the Hong Kong Monetary Authority. Bruno Campenon, Head of BNP Paribas Securities Services, described their new business plan as "the development of a unique custodian bank in the Hong Kong market."

HK Bankers will be scrambling all over smaller towns in China now that they are approved to open an unlimited number of sub-branches in China from October 1.

Louisa Cheang, currently Head of Personal Financial Services Hong Kong, leads the list of HSBC’s senior executive appointments, which are still subject to board and regulatory approvals. She is slated to succeed Mr. Conrado Engel as Regional Director Personal Financial Services, Asia-Pacific effective 1 June 2009.

And they almost got away with it. In yet a stunning development, the Hong Kong Monetary authority has identified 102 cases of banks selling anything to anyone, including elderly and mentally impaired. Great for commissions and fee income, not so good for the customers.

Patrick K W Chan will resign as the Hang Seng Bank's Chief Financial Officer effective 8 July 2009. He will pursue other career prospects outside the financial industry and will not offer himself for re-election at the Bank’s annual general meeting to be held on 6 May 2009. Hence he will cease to be an Executive Director of the Bank.

Hang Seng Bank enhanced its securities services with its new trading centre at its main branch in Hong Kong. Called the Hang Seng Securities Select Customer Trading Centre, it allows selected customers to trade with ease by contacting managers through exclusive trading hotlines or visiting the Centre. The dedicated relationship managers can provide information about local securities, Shenzhen and Shanghai B shares, and selected Singapore securities with ease.

A new mortgage plan that enables property buyers to enjoy first-year monthly installments of as low as US$430 was launched by the Bank of East Asia.

The Bank of East Asia (BEA) has launched a new mortgage plan offering a first-year mortgage rate of P3.28 percent (prime rate) for Emerald Green property owners.

BEA’s new China UnionPay debit card will enable customers to access ATM services at all JETCO ATMs in Hong Kong, Macau, and Mainland China.