Hang Seng Bank has made robust progress with its efforts to expand its footprint and offering across the Greater Bay area.
Its net profit surged by 58%, reaching HK$17.8 billion ($2.3 billion). A key driver of this growth was the bank’s emphasis on client acquisition across the GBA region, where new account openings for non-Hong Kong residents saw an impressive 342% year-on-year increase. To cater to this market, the bank now operates nine cross-border wealth management centres across GBA cities, including Hong Kong, Guangzhou and Shenzhen.
The bank is led by Diana Ferreira Cesar, executive director and chief executive.
With the introduction of the Cross-boundary Wealth Management Connect Scheme 2.0, Hang Seng Bank expanded its wealth management offerings to over 320 products, doubling the number available since the initial scheme launched in 2021.
In support of small and medium-sized enterprises, the bank launched the HK$33 billion SME Power Up Fund and partnered with Hong Kong Cyberport to provide financial and digital advisory services such as digital payments, online marketing and logistics.
Hang Seng Bank was also at the forefront of digital currency integration. It was among the first foreign banks in China to join the e-CNY platform and expand cross-boundary pilot services. During the Asian Games, the bank facilitated seamless e-CNY wallet top-ups for Hong Kong athletes using FPS technology.
In addition, the bank has implemented talent development initiatives within the region, partnering with universities and launching its New generation CEO enlightenment course. As the exclusive sponsor of the GBA Young Entrepreneur Summit, the lender attracted over 200 young entrepreneurs from Hong Kong and mainland China.