Hong Kong banks protected from EU crisis
Wednesday 23 November 2011 - by firstname.lastname@example.org
Hong Kong's banks are well buffered from the European debt crisis thanks to their wide pool of overseas funding, according to a new report card by Fitch.
"Hong Kong banks remain vulnerable to general aversion to bank risk and waning investor confidence in global growth in general and China in particular", said Sabine Bauer, director of Fitch's financial institutions team.
"Core revenues and capitalisation should however continue to hold up well and Fitch anticipates that Hong Kong banks would eventually slow down their expansion to China if liquidity were to tighten drastically."
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