Chong Hing Bank To Pursue Hong Kong & Mainland Expansion

February 26, 2016

NewsStandOnline.Net (26-February-2016): Chong Hing Bank Ltd will hire 100 employees in mainland China while continuing its recruitment in Hong Kong as part of its expansion plans in the city and the Pearl River Delta region, vice chairperson and managing director Margaret Leung Ko May-yee said.

Leung said the bank will set up its mainland headquarters in Guangzhou in March or April, the Hong Kong Economic Journal reported earlier today.

It is also setting up two branches in Guangzhou and Hengqin this year.

Chong Hing Bank To Pursue Hong Kong & Mainland Expansion

The bank’s loan portfolio in the mainland has been growing since its takeover by Yuexiu Group. It contributed 15 percent of lender’s total loans last year.

Leung stressed that it has no plans to reduce its Hong Kong business and will not cut staff in the city.

Instead, the bank will continue to streamline its operations and pursue automation, while modifying its network of 47 branches in Hong Kong, she added.

The bank has a total of 1,600 employees in Hong Kong and the mainland.