TOPIC

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Hang Seng Bank

Established in 1933 as a money-changing shop in Hong Kong, Hang Seng Bank is the second largest bank in Hong Kong. The bank is majority owned by the HSBC Group through The Hongkong and Shanghai Banking Corporation and is a Hang Seng Index constituent stock.

Chairman / President

Diana Ferreira CESAR

CEO / Managing Director

Diana Ferreira CESAR

CFO / Finance Director

SAW Say Pin

Industry

Finance and insurance

Website

hangseng.com

Headquarters address

83 Des Voeux Road, Central, Hong Kong

Stock Code

SEHK:0011
OTC Pink:HSNGY

Year founded

March 3, 1933

last updated:

30 September, 2024

Hang Seng Bank

Dollar strength more worrying to Asian stocks than China tariffs: Hang Seng Bank

Prospects for Asian equities remain positive due to China’s stimulus measures and strong Asean trade links, Hang Seng Bank official says.

Editorial | Clients of Hong Kong banks seek value, not misconduct

Hong Kong banks offer lai see, hampers, Asia Miles to returning workers

Hong Kong’s regulator fines Hang Seng Bank US$8.5 million for misconduct

The SFC found that the bank had engaged in serious misconduct, including excessive fees and soliciting clients for frequent transactions.

Hong Kong banks cut lending rates, but HKMA warns of volatility ahead

The latest rate cuts by lenders such as HSBC and Bank of China will lighten the monthly burden on mortgage borrowers by about HK$351 to HK$22,452.

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

Hong Kong interest rate cut gives small businesses ‘more room for survival’

Lower rates will not only reduce financing costs but revive investor confidence and spending sentiment, experts say.

HSBC’s Elhedery gets close and personal with Hong Kong staff, customers

The global CEO visited two premier branches, where the staff walked him through the customer service and showed him the various digital solutions.

Hong Kong won’t revive pandemic-era guaranteed loan scheme for SMEs: commerce chief

‘As the economy gradually recovers, it’s a heavy burden on the government if we maintain a 100 per cent loan guarantee,’ Algernon Yau says.

Hong Kong banks pledge to ease loans in HKMA’s plan to help SMEs

Hong Kong’s business owners are cash-starved, as interest rates hover at the highest level in almost two decades.

Opinion | A HKEX shift into data and connectivity could put Hong Kong on top again

From Nasdaq to the LSE, data is no longer a business by-product but an asset that can power the next generation of global capital markets.

Finance firms expand services for rich clients, tout city’s family office push

Sun Life has teamed up with medical services operators to capture high-net-worth customers in the Greater Bay Area, while Hang Seng Bank added new features for its Prestige customers.

Hong Kong keeps base rate steady as Fed dials back signal

Hong Kong’s de facto central bank kept its base rate unchanged for the seventh time as traders in the financial markets shift their focus to September in expectation of the first cut in borrowing costs.

Developer Times China faces winding-up petition from Hang Seng Bank in Hong Kong

Debt-laden property developer Times China Holdings is faced with a winding-up petition as it becomes the latest property company creditors are seeking to liquidate.

Editorial | New MPF platform to offer Hong Kong investors more control over portfolios

The dozen MPF account providers are due to complete the shift to the new electronic platform, which allows for day-to-day adjustments of holdings, by the end of 2025

Exclusive | CBDC pilot boosts Hong Kong’s blockchain, international hub credentials: Yue

‘We’ve always been at the cutting edge of the whole blockchain evolution, including CBDCs,’ Yue, CEO of the Hong Kong Monetary Authority, the city’s de facto central bank, tells the Post.

Hong Kong’s biggest banks roll out new cross-border wealth management products

HSBC, Standard Chartered and Hang Seng Bank are rolling out more products tied to the Wealth Management Connect scheme amid a drive by Beijing to boost the Greater Bay Area’s financial markets.

Editorial | HSBC commitment to Asia welcome as it profits from region

With the Fed expected to start cutting rates before the end of the year, margins for lenders will narrow, potentially exposing threats in other areas. Hong Kong’s banks have made provisions and shored up balance sheets to ward off China property risk

GBA at 5: HSBC, BEA among Hong Kong lenders eyeing Qianhai opportunities

Qianhai’s tax incentives are among measures that have attracted major Hong Kong banks to invest in grade-A office buildings, and to develop a wide range of banking, securities and insurance businesses in the area.

Year of the Dragon: most popular Chinese zodiac sign dominates lai see packets

Many financial firms including UBS, Julius Baer, and KGI Asia have opted to use the dragon’s image on their lai see envelopes as opposed to a generic design, illustrating the mythical creature’s popularity with the public.

Hong Kong banks line up fireworks dinners, lucky draws to entice new clients

Hong Kong banks have launched marketing campaigns to kick off the Year of the Dragon. The giveaways include fireworks dinners, lucky draws and air tickets to lock in new clients and entertain wealthy customers.

Hong Kong banks hold rates steady as Fed keeps options open on cuts

The banks’ decisions followed the Hong Kong Monetary Authority (HKMA), which left the city’s base rate at 5.75 per cent hours after the Fed kept its target range unchanged in its first policy move of the year.

E-CNY: HSBC, Standard Chartered jump on China’s digital currency bandwagon

The China branches of Hang Seng Bank and Fubon Bank are also in the first batch of overseas banks to join more than 40 state-owned banks in launching their services on the e-CNY app.

Hong Kong banks roll out incentives to attract mainlanders during ‘golden week’

Tickets to Disneyland, afternoon tea at The Peninsula and fine dining with wine pairings – these are just some of the incentives with which major banks such as HSBC and Standard Chartered plan to woo high-flying mainland Chinese customers during the ‘golden week’ holiday.

HSBC’s second-quarter profit beats estimates on gains from higher interest rates

HSBC’s pre-tax profit was US$8.77 billion, ahead of US$7.96 billion expected by analysts, as it benefited from a strong interest rate environment.

Higher rates to drive profits as Hong Kong banks prepare to report results

Higher interest rates are expected to help drive profit gains at big Hong Kong lenders, including HSBC and Standard Chartered, in second quarter as US Federal Reserve prepares to hikes rates further.

Brace for mortgage pain as HSBC, Hong Kong peers seen raising rates: survey

Consumers might need to brace for bad news next week, with analysts predicting banks will raise their prime rates after the Federal Reserve’s projected rate hike. That could hurt the city’s nascent economic rebound.

Hang Seng joint-venture fund to launch 2 products to tap cross-border opportunities

Hang Seng Qianhai Fund Management, a joint-venture of Hang Seng Bank and local authorities in Shenzhen Qianhai, is launching more diverse products to capture cross-border opportunities in China.