Best Retail Bank in Hong Kong 2023 is Bank of China
5 min read
Amid a challenging market environment, the winning bank demonstrated strong resilience by growing its interest income and market share in mortgage and deposits in Hong Kong.
The bank has taken on more relationship managers to maintain the level of fee income during the worsening market environment and reduce negative impact. The financial performance strongly rebounded in the second half of 2022, with group’s net operating income before impairments for the first nine months of 2022 increased by 12% year-on-year.
The bank has pivoted to remote channels such as Relationship Manager Chat, Virtual Manager Chat and Home Expert apps to enable remote transaction, wealth management and mortgage advisory services. It also expanded social media channels and reconfigured digital branches to engage with and serve customers during COVID-19, with year-on -year mobile active customers grown by 14%.
With resilient retail performance, strong branding and refreshing digital customer engagement, the Best Retail Bank in Hong Kong is Bank of China.