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Hong Kong Retail Banking - Competitor Benchmarking 2021

Published: | GlobalData | 31 Pages | Delivery time: 1-2 business days


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Hong Kong Retail Banking - Competitor Benchmarking 2021
Published: September 24, 2021
Content info: 31 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents

Despite the impact of COVID-19, banks in Hong Kong remain well capitalized and ready to support recovery going forward. All incumbents increased their total divisional assets (TDA) in 2020. Although the threat of a long-term low-rate environment persists, profitability is unlikely to be affected as banks focus on controlling costs and non-interest income. As net interest margins across the banking sector compress due to the need for ultra-low interest rates, the importance of non-price factors has become significantly more important in the banking space.

This report - which is part of a series of Hong Kong content including market analysis and consumer profiles - looks at market performance, retention risk, and current account market share. It ranks Hong Kong's top banks across a range of criteria, from digital adoption and user experience to rewards and money management tools.


  • Use of digital channels peaked in 2020. However, reversion to pre-pandemic habits appears to be underway. Standard Chartered, HSBC, Hang Seng Bank, and Bank of China are all experiencing greater branch usage in 2021 than in 2020.
  • 38% of Citibank customers have joined within the last five years, suggesting its customer acquisition efforts have been successful.
  • HSBC leads the way in terms of cross-selling, with 20% of its customers holding three products with the bank. Challengers ZA Bank and Mox Bank struggle in this regard due to a lack of services.

Reasons to Buy

  • Discover which banks in Hong Kong are performing best.
  • Learn which banks are under threat and are perceived as behind the curve by customers.
  • Understand the Hong Kong retail banking landscape and how it may develop based on key performance indicators.
Product Code: GDFS0538CI

Table of Contents

Table of Contents

  • Executive Summary
  • Financial Performance, Market Share, and Cross Selling
  • Channel Visitation Trends and Digital Adoption
  • Customer Satisfaction