Financial News
Author: Hu Xueneng
2021-01-20 08:00
Last update date: 2021-01-20 08:00
Xuan Huiyi, Chief Executive Officer of Standard Chartered Hong Kong, said that the banking industry supports Hong Kong SMEs during the epidemic. She has seen that the situation in certain industries is still difficult, but some are already repaying after a period of "repayment of interest but not capital". The principal emphasizes that the bank will review customer conditions according to industry and past records, and try to assist SMEs within the risk appetite of the bank.
She pointed out that last year's loan growth was about 3.2% and hoped that this year's loan growth would be the same as last year or better.
She said that SME customers still need support, but some customers are thinking about how to reorganize their business. It is estimated that they will think about financing in the next step. When the epidemic becomes clearer, I believe it will be reflected in loan growth by then. It is temporarily expected this year In the first half of the year, the growth in payment for goods was similar year-on-year.
Invest in Mox this year to develop product loan products or release
Mox Bank, a virtual bank established by the bank, experienced a malfunction in its monthly statement query function last year.
Xuan Huiyi pointed out that Mox Bank is "4 months old". At present, many of them may not be technical problems, but may be some initial problems. For example, the team may encounter these situations for the first time and have a little "rolling", but it will recover as soon as possible. Does not affect customer service.
She pointed out that Mox Bank is still in the investment period. The resources invested in the virtual bank this year will be focused on technology and mainly develop more products. "Currently, only deposit and debit card products are launched. In the future, you can imagine credit cards and other products. Products require technological support and investment in technology. This will be the focus of the next round of investment," revealed that there is an opportunity to launch loan products this year.
She said that the virtual banking business is currently focused on building brand and reputation and attracting new customers. It has created healthy competition in the industry. Standard Chartered's digital banking has also been transformed. It has done more online transactions and more branch front-line staff. For some sales and relationship-led work, the bank will try to optimize the customer's online experience this year, so that customers can get the advice they need through digital wealth management, while facilitating transactions. The bank also hopes to increase the number of customers of digital wealth this year.
As for the Biden administration’s appearance today in the U.S. time, Xuan said that geopolitical tensions have been maintained for some time, and any company will predict that this factor will not disappear overnight. When U.S. Treasury Secretary Yellen was appointed as the chairman of the Federal Reserve, his style was Pragmatically, I believe that we will work together with the Federal Reserve to get the economy back on track as soon as possible through the stimulus package. However, even if the package is passed by Congress, it will take time for the economy to get back on track. Therefore, it is expected that there should be no conditions to raise interest rates this year.
Standard Chartered