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Online Securities Business on Rise for HK's Hang Seng Bank
The number of online securities accounts of Hang Seng Bank of Hong Kong has grown rapidly to over 31,000, since the launch of online securities trading through its e-Banking service in August.
At present, more than one-third of Hang Seng's e-Banking customers have online securities accounts and about 36 percent of securities trading transactions are conducted online, according to Mok Wai-kin, managing director and general manager of the bank.
Announcing its securities service enhancements at a press conference here Monday, Mok said the bank has lowered the minimum balance requirement of its Bank-In-One Account, which offers securities trading, from 10,000 HK dollars (US$1,282) to 5,000 HK dollars.
With the implementation of the Broker Supplied System of AMS/3 by the Stock Exchange of Hong Kong, the Bank commenced straight-through securities trading services on November 10, 2000.
Founded in 1933, Hang Seng Bank is a principal member of the global banking giant HSBC Group and is the second largest locally-incorporated bank in Hong Kong.
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