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Coronavirus Hong Kong: 2021 to be a difficult year for banks with bottom lines squeezed by low interest rates, uncertainty

The profitability of Hong Kong’s banking sector, including such big lenders as HSBC and Standard Chartered remains under pressure in 2021, weighed down by historically low interest rates and the ongoing economic uncertainty tied to the coronavirus pandemic, according to KPMG China.Net interest margin – a key profitability measure for lenders – is likely to “remain challenging” in 2021 as there is little consensus on whether inflationary pressures as economies recovery from Covid-19 induced…

Read the original article at South China Morning Post

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