An Alternative to Banking Problems in Hong Kong – How WB21 Is Changing the Game

by Gail Gardner
Hong Kong has long been one of the major banking locations in the world. It used to be a place where companies set up bank accounts in order to operate in the Far East. But now companies are reporting that it’s more difficult than ever before to open an account in Hong Kong. WB21 provides an alternative for many offshore companies struggling to set up bank accounts.Read the full article

  • Write-downs, investigations and tax hikes hammer HSBC profits - 21 readers - Scandal-ridden HSBC reported a small rise in full-year profits of just 1 per cent yesterday after posting an unexpected loss in the fourth quarter. That was mainly down to a $634m (£448m) rise in bad debt write-downs centred on souring loans to oil and gas businesses. But the bank said it was also hit by a $357m increase in the UK bank levy. ...

  • HSBC Unit Appeals Fine by Hong Kong Regulator - 22 readers - A unit of HSBC Holdings is appealing what would be the largest fine ever imposed by Hong Kong’s securities regulator.