Protest chaos leads to the most bank branch closings in Hong Kong’s history other than during typhoons
- 250 bank branches, 19 per cent of the city’s outlets, were closed the whole day while another 100 closed earlier than usual
- ATMs, online banking remain open
A third day of violence and traffic disruptions by protesters in Hong Kong led 250 bank branches to close Wednesday the whole day – the most in the city’s history except during severe typhoons.
One in five branches of the 18 major banks, including all three note-issuing banks in the city – HSBC, Standard Chartered Bank and Bank of China (Hong Kong) – shut their doors for the day. In addition, another 100 bank branches closed earlier than usual.
The troubling sign in one of Asia’s most important financial hubs occurred as protesters used bricks to smash the glass facade of the branch of the Bank of Communications (Hong Kong) on Pedder Street in Central. The crowd, including some people in suits, clapped when the glass broke.
The closed bank outlets represented about 19 per cent of all 1,300 branches in the city, based on banks contacted by the South China Morning Post and information posted on bank websites.
“In view of special traffic conditions, some bank branches in various districts in Hong Kong are closed today and services are suspended,” said a statement of The Hong Kong Association of Banks, which apologised to customers.