HSBC faces its biggest threat in years in HK


  • Business
  • Wednesday, 01 May 2019

One of the bank

HONG KONG: HSBC Holdings Plc spent 150 years building a financial fortress around Hong Kong that touches nearly every aspect of life in the former British colony.

One of the bank’s biggest threats? A pack of upstart virtual lenders, which barely existed two months ago, backed by the likes of Standard Chartered Plc and Chinese internet insurer ZhongAn Online P&C Insurance Co.

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