Awards for Excellence 2023: Best bank in Hong Kong – HSBC
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AwardsAwards for Excellence

Awards for Excellence 2023: Best bank in Hong Kong – HSBC

Hong Kong

HONG KONG

Awards for Excellence

Full Results

HSBC remained formidable in the Hong Kong market over the past year and is now well positioned to reap the benefits of mainland China and Hong Kong’s post-Covid reopening.

Its strengths are many: a solid private-banking platform, a growing retail-banking presence, credit-card dominance, robust digital infrastructure, strong onshore China presence and an international network that is the envy of rivals. It has used its strengths to its advantage and cemented its position in Hong Kong.

A critical point is that HSBC’s executives don’t let the noise around them distract them from what they do best. The numbers reflect that: profit before tax for Hong Kong was $6.8 billion in 2022, up 10% year on year and accounting for just over 35% of group pre-tax profits.

HSBC Hong Kong’s chief executive, Luanne Lim, who took charge in February last year, has also emphasized all the right things to position the bank for the future – digital rollouts, the potential of the Greater Bay Area and sustainable financing.

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