Colony banks will remain buoyant after 1997 transition, S&P predicts

Article Abstract:

A report by Standard and Poor's Ratings Group (S and P) reveals that Hong Kong banks will enjoy continued growth after China's 1997 takeover of the British colony. The report further states that some smaller banks with shaky financial status will merge. Earlier studies have come up with findings similar to that of S and P. Foreign banks continue to open offices in Hong Kong, an indication of the favorable future of the colony's financial sector beyond 1997.

Reports, Forecasts and trends, Rating agencies (Securities), Standard & Poor's Corp. Standard and Poor's Debt Rating Group

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Hong Kong's private banking flourishes as residents look for financial security

Article Abstract:

Hong Kong's private bankers are enjoying brisk business as the island colony's affluent class seek their services in stashing their money abroad. Hong Kong's wealthy residents are worried about the security of their assets as China prepares to take over the colony in 1997. Banks report that the decline in revenues from retail and corporate services are more than offsetted by the increase in revenues from private banking services.

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Loan program aims to help Filipinos abroad buy homes in the Philippines

Article Abstract:

The Philippine National Bank, First Alliance Property Ventures Inc. and the non-profit organization, Balikatan sa Kaunlaran, have launched a new housing loan program for Filipinos working in Hong Kong. The program provides five-year home loans to workers earning minimum wages in Hong Kong at an annual interest rate of 13%. The loans allow them to purchase 570-sq.ft. prefabricated homes in the suburbs of Banay Banay near Manila.

Philippine National Bank, Filipinos, Home equity loans, Filipinos in foreign countries

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