HONG KONG: WEEK IN REVIEW, 11May2013

HONG KONG: CLOSING WRAP, 07May2013

Damn it feels good to be a banker! HSBC Q1 profit doubles

 

From RTHK:

HSBC’s profit nearly doubled to US$8.4 billion during the first three months of this year, as bad debts fell sharply and its three-year cost-cutting plan produced results.

S Korean zombie banks sell US$2.76bn in bad debts to govnmt

From Yonhap News:

South Korea’s state-run debt clearer said Tuesday it plans to buy bad debt worth some 3.1 trillion won (US$2.76 billion) this year in a bid to help banks and policy lending agencies make their balance sheets cleaner.