Portents of the future
Article Abstract:
The mainland Bank of China's increasing impact on Hongkong's banks became clearer in 1993. Though Hongkong will not be reunited with China until 1997, the Bank of China already disposes of 25% of the territory's banking assets. Bank of China's takeover of the Hongkong and Shanghai Banking Corp's showcase branch underscored the ongoing changes affecting Hongkong banking. However, the acquisition of Overseas Trust Bank by Guoco Group's Dao Heng Bank, rather than by Bank of China, shows that territorial banking officials are no longer desirous of boosting Chinese influence.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Storms to weather
Article Abstract:
Hong Kong's landmark banks are traditionally conservative and highly profitable, traits they will need as China takes over control of the colony and other changes sweep the industry. Hongkong & Shanghai Banking Corp may soon sell its enormous subsidiary, Hang Seng Bank, with which it is increasingly in competition, while the country of domicile for banks will be more important during and after the 1997 transition. Hang Seng could become the mainland's top foreign bank, but Bank of China may supplant its power.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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The Daiwa fallout: Japanese banking community feels the heat
Article Abstract:
The widening debacle of Daiwa Bank's losses in bond trading in NY has stained other Japanese banks, insurers, and corporations, and signals other possible events to come. The Ministry of Finance apparently knew of the Daiwa losses and did not tell US officials, eroding trust, and Moody's Incestors Services has put three other Japanese banks on a credit watch. Experts question how well Japanese banks understand some of the sophisticated instruments they are trading.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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