Fubon HK unit gains, despite unrest

PROTEST POLICIES: Taipei Fubon’s unit has allowed some workers to arrive late, ‘but surprisingly most can make it to the office by 10am, a company executive said

Taipei Times
Date: Nov 23, 2019
By: Kao Shih-ching  /  Staff reporter

Taipei Fubon Commercial Bank (台北富邦銀行) yesterday said that its unit in Hong Kong achieved double-digit percentage growth in net profit last quarter, although some corporate clients have refrained from taking out syndicated loans due to concern over political uncertainty in the territory.

The Hong Kong unit has been a lead bank for some syndicated loans sought by multinational corporate clients, Taipei Fubon general manager Roman Cheng (程耀輝) told reporters on the sidelines of an investors’ conference in Taipei.

However, the loans, which should have been realized this quarter, have been deferred to next quarter, as some clients voiced concern amid pro-democracy protests, Cheng said.

“With some of the lenders being from China, some borrowers thought it might be too sensitive to take out loans at this time,” Cheng said.    [FULL  STORY]

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