Hong Kong's best domestic bank 2022: HSBC
Greater China powerhouse HSBC wins three of Asiamoney’s awards for Hong Kong this year: best domestic bank, best investment bank and best bank for digital solutions. And for good reason. HSBC proved its mettle across a host of different business lines, despite the triple threat of the pandemic, market volatility and pressure on net interest margins.
HSBC’s strategy was simple: focus on its strengths, digitalize at scale and put environmental, social and governance, and transitioning among its key priorities.
The bank has many strengths, but what impressed Asiamoney most were HSBC’s burgeoning wealth and personal banking, and private banking franchises, its prowess in investment banking and capital markets, and the investments it has made to digitalize its banking services.
On the wealth front, HSBC puts client needs at the forefront of its business. Whether it is the middle-class wealthy, high net-worth customers, or millennial traders aged 18 to 25 years, HSBC has something for everyone.
This includes the first-in-market wealth and engagement programme called HSBC Prime Club for the middle class; a portfolio-based advisory service for HNW clients; and a commission-free stock trading mechanism for millennials.