 |
Best bank and Best debt house: HSBC Best equity house: JPMorgan Best M&A house: Morgan Stanley
|
HSBC is still the best bank in Hong Kong and shows no sign of relinquishing its dominant position in its home market. The bank extended its lead over the competition when measured by profits – quite some feat given how far in front it already was. Profits before tax grew 42% in 2007 to HK$ 53.8 billion ($6.9 billion), more than double those of the nearest competitor.
Excluding the activities of subsidiary Hang Seng Bank, HSBC’s retail division increased the value of its deposits from $72 billion to $82 billion, its credit card assets from $2.8 billion to more than $3 billion, and its mortgage portfolio from $12.75 billion to $13.33 billion.