(Bloomberg) — Months of protests, a worsening economy and a plunge in property prices could translate into severe pain for Hong Kong’s banks, and threatens to end the city’s status as a “safe haven” for customers’ savings, according to JPMorgan Chase & Co.A stress test performed by the U.S. bank projected that local lenders including Hang Seng Bank Co. and Bank of East Asia Ltd. could see earnings slump 24% to 45% next year and 39% to 67% in 2021. That would lead to significant deterioration in return on equity and core capital buffers, analysts led by Jemmy Huang told …read more
Source:: Yahoo Finance
