Hang Seng Bank continues to lead in promoting financial inclusion through its strategic partnership in the “JC PROJECT LIFT” programme.

Launched in April last year, this initiative supports families in transitional housing by cultivating prudent saving habits and enhancing financial literacy. To date, Hang Seng has facilitated the opening of high-interest savings accounts for over 500 families, collectively accumulating total savings of HKD 15 million ($1.9 million).

As part of this initiative, Hang Seng has introduced a two-year high-yield savings scheme with preferential interest rates for selected participants from 24 transitional housing and two light public housing areas across Hong Kong. Offering a stepped-up Hong Kong dollar savings rate of up to 6% per annum, the scheme motivates participants to build consistent saving habits and strengthen their financial management skills. By the end of April 2025, 80 members of the Hang Seng Financial Volunteer team had engaged with 12 transitional housing estates, assisting over 500 families in opening high-yield savings accounts.

Remarkably, 90% of these families have developed regular saving habits, with an average savings of HKD 29,000 ($3,694) per household, while 25% have saved over HKD 60,000 ($7,644).

Rannie Lee, head of wealth and personal banking at Hang Seng, said: “As Hong Kong’s largest local bank, Hang Seng is committed to promoting financial inclusion and advancing financial literacy for societal development. We are proud to leverage our expertise to serve the community by helping low-income families develop saving habits and strengthen their financial capabilities. Our goal is to overcome poverty and improve their quality of life.”

In addition to the high-yield savings scheme, Hang Seng has organised a series of financial education activities to help beneficiary families better understand financial planning and protection. Over the past year, Hang Seng has conducted 30 financial education events, including digital banking guidance, sharing sessions, game booths, and board games,creating an engaging and interactive environment to boost financial literacy and raise antiscam awareness.

Hang Seng has also been recognised as the first bank in Hong Kong to receive the “Outstanding Pioneer for Contribution to Liveable City Living – Promote Silver Friendly Community” Grand Award from the Hong Kong Quality Assurance Agency. To further promote financial inclusion, Hang Seng offers a wide range of innovative banking services tailored to meet the diverse needs of its customers. Key initiatives include:

• Upgrading branches in Hysan Avenue at Causeway Bay and Festival Walk to be pet-friendly, allowing customers to bring their pets while accessing banking services, a first in the market;

• Expanding and enhancing the Shatin Branch with an age-friendly service area featuring thoughtful and accessible design elements;

• Establishing social caring counters at 21 branches to provide priority services specifically designed for customers in need;

• Deploying Dementia-friendly Ambassadors at all street-level branches to support customers living with the condition, enabling them to use banking services independently.

Additionally, Hang Seng drives financial education in the community through a range of initiatives, including:

• Launching the Hang Seng Financial Literacy Academy in 2023, targeting primary and secondary students, parents, teachers and social workers;

• Establishing the Hang Seng financial volunteer team in 2024, comprising over 200 colleagues who shared financial knowledge and concepts with the community through various outreach activities.

Redisseminated by The Asian Banker