Hong Kong
Standard Chartered bolsters private banking team in Hong Kong
                                                                                 
                    
                    Two managing directors and three executive directors are joining the team.
                
                                
            Standard Chartered bolsters private banking team in Hong Kong
                                                                                                                 
                            
                            Two managing directors and three executive directors are joining the team.
                        
                                                
                        
    
                    Hong Kong’s ZA Bank welcomes planned stablecoin regulatory regime
                                                                                                 
                        
                        The bank surpassed $1b in transfer turnover from Web3 clients in 2023.
                    
                                        
                    
                Hong Kong process with plan to regulate stablecoin issuers
                                                                                                 
                        
                        It has published a consultation paper based on 108 submissions.
                    
                                        
                    
                Citi Hong Kong unveils IADS-powered Wealth 360
                                                                                                 
                        
                        Customers can view their deposit accounts across different bank in one place.
                    
                                        
                    
                DBS Hong Kong has sufficient buffers for property downsides
                                                                                                 
                        
                        The bank is expected to maintain strong capitalisation and profitability.
                    
                                        
                    
                Siam Commercial Bank names new wealth management head
                                                                                                 
                        
                        He is tasked with driving SCB’s goal to be the #1 digital bank in WM.
                    
                                        
                    
                Hong Kong Mortgage Corp names Colin Pou as new CEO
                                                                                                 
                        
                        Pou, who is an executive director at HKMA, will be seconded to HKMC.
                    
                                        
                    
                ZA Bank unveils payroll service with limited-time coupon
                                                                                                 
                        
                        With the coupon, users can earn HK$1,775 in interest for a 90-day period.
                    
                                        
                    
                China CITIC Bank warns against fraudulent website and emails
                                                                                                 
                        
                        It has reported the matter to authorities in Hong Kong.
                    
                                        
                    
                DBS HK fined US$1.28m for anti-money laundering, review lapses
                                                                                                 
                        
                        The bank failed to conduct due diligence in ‘high risk situations’ from 2012 and 2019.
                    
                                        
                    
                Hang Seng Bank sets benchmark in digital currency innovation with top honours at ABF Fintech Awards 2024
                                                                                                 
                        
                        The Bank receives Digital Currency Award for its role as a leading advocate of central bank digital currency, through a hypothetical e-HKD-based e-Wallet prototype and demonstration of associated use cases.
                    
                                        
                    
                Hong Kong banks ramped up hiring but investment bankers laid off
                                                                                                 
                        
                        Trade and private bankers are most in demand, although banks are cautious.
                    
                                        
                    
                Hong Kong banks face mixed outlook with expected rate cuts in 2024
                                                                                                 
                        
                        Credit risk management will be a key concern for banks amidst fluctuating interest rates.
                    
                                        
                    
                Endowus Private Wealth offers HK investors access to 400 fund strategies
                                                                                                 
                        
                        Over 400 fund strategies are made available to Endowus clients. 
                    
                                        
                    
                Mortgage applications in HK fall 16.1% in May
                                                                                                 
                        
                        However, the value of mortgages approved rose by 8.8%, according to official data.
                    
                                        
                    
                Total deposits in Hong Kong up 1.1% in May
                                                                                                 
                        
                        Loans registered a decline, however, according to central bank data.
                    
                                        
                    
                Dah Sing Bank unveils multi-currency debit card
                                                                                                 
                        
                        It covers 11 currencies and has no annual fee.