HSBC tightens risk management at Hang Seng Bank due to China's economic challenges and property sector crisis.

HSBC is tightening risk management at its Hong Kong unit, Hang Seng Bank, due to concerns about a potential increase in bad loans following the economic challenges and property sector crisis in China. Hang Seng's top executives will be involved in their parent company's Asia-Pacific risk management discussions. The move is in line with HSBC's pivot towards Asia amid economic turmoil in its mainstay market. HSBC plans to share expertise and best practices from its Asia-Pacific risk management operations with Hang Seng.

February 16, 2024
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