HSBC kicks off year with Hong Kong branches closed, wrecked

• Financial

Hong Kong, the China-controlled crisis-sickened island city, lying at the verge of losing its status of being the Asia’s largest financial HubSpot following six-month long pro-democracy protests which turned violent last month following death of a college student, had entered in to the new year, with protestors attacking some of the branches of London-based HSBC Holdings Plc with graffiti slapping over a pair of lions which were guarding its Hong Kong city headquarter.

If truth is to be told, the London-based British lender had been the heaviest hit among all of financial entities in Hong Kong, since Hong Kong had long been the lender’s single most important market that proffered more than $12.5 billion operating profit excluding taxation during the first half of 2019, while Hong Kong has been drowning deeper in to a recession, HSBC alongside its peers across the globe would likely to take a heavy header over the second half of 2019.

Meanwhile, adding people were “very angry” over HSBC’s decision to block the accounts of known protestors, one of the protestors standing in front of the British lender’s famous pair of lions said on Wednesday (January 1st), “People are angry because they feel that HSBC has stopped money getting to the protesters. ”