If banks did not exist, where would we deposit money? Where would we borrow millions and billions of dollars from? Where would we invest money? Ac coding to Corporate Finance Institute, the largest five banks in Hong Kong, Hong Kong and Shanghai Banking Corporation (HSBC), Bank of China (Hong Kong), Hang Seng Bank, Standard Chartered (Hong Kong) and The Bank of East Asia have combined assets totalling more than $23.5 trillion HKD. They have more than 270,000 employees to work for the business to provide an essential service to small and medium enterprises and large businesses (more than 500 staff) across Hong Kong. These businesses rely on the existence of corporate and investment banks to succeed.
Corporate banking is experiencing a period of growth, according to the 2019 Banking Industry Outlook released by Deloitte, global corporate lending is on an upward trajectory, with the Asia Pacific region saw corporate lending increase by 5.8 percent in revenues. As Asian markets expand, the competitive dynamics and opportunities within APAC’s corporate banking landscape have significantly increased.
Revenue from corporate lending has increase as well. HSBC’s gross loans and advances increased by 6.08 percent to $3.545 trillion HKD, largely driven by an increase in corporate lending and mortgages, together with a growth in loans and advances to customers in mainland China, Australia, Singapore, Taiwan and Malaysia.
On the investment banking front, Hong Kong is the hub of investment banking in China. Corporate and investment banking is one of the pre-eminent areas in finance and an attractive area of employment for banking professionals.