HSBC does its bit by partnering up with 1,000 retailers
Finance | Staff reporter 26 Jul 2024Staff reporter
The Hong Kong and Shanghai Banking Corp said 67 percent of Hongkongers are interested in shopping locally as the lending giant partnered up with retailers to create a network offering its customers shopping benefits.
The bank said it has collaborated with more than 1,000 local and international retail brands to offer customer discounts and benefits.
It has found that although Hongkongers are smart spenders, 80 percent of them pay little attention to debit card and other non-credit card offers.
According to its survey, 39 percent of respondents are buying 15 percent more in Hong Kong on average than they did before the Covid-19 pandemic.
This came as the bank revealed double-digit growth in credit card transactions in the first quarter due to demands for outbound travel.
Meanwhile, a new DBS report showed Hong Kong has, along with Singapore and Shanghai, emerged as a premier regional treasury center in Asia, citing factors such as the city's tax and regulatory framework, financial resilience and talent pool.
A total of 570 senior executives from 15 markets across Asia Pacific, Europe and north America were surveyed in the report.
In a separate development, the Hong Kong Monetary Authority said yesterday the number of complaints about banking accounts operation increased by 78 percent to 390 cases in the first half.
