The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Awards for excellence - Hong Kong

Best bank:


Best equity house:

Merrill Lynch

Best debt house:


Best M&A house:

Goldman Sachs

One of the broad trends in local banking in Hong Kong in the past year was the soft, sluggish loan market. Although most banks are able and willing to lend, since cleaning up their balance sheets, demand has remained weak. Pricing and spreads have also suffered. Banks are only able to get 60 basis points instead of the 200bp common in 2000. Mortgage lending is at the lowest for a generation. And it's the same in the wholesale market. Spreads are hardly profitable and unless this improves, the banks that traditionally rely on lending will have to start diversifying their income bases.

The weak market conditions hardly affected HSBC. It is, without question, the most impressive bank in Hong Kong. But in its home market so it should be. In terms of management calibre, franchise, ability to structure its business and the returns it gives to shareholders, it is head and shoulders above the rest. In markets that others found challenging its profits rose an impressive 45%.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree