Bruised and battered

Hong KongÆs banks are being boxed silly by top local corporations.

Tightening spreads, lower fees and fewer covenants are among the more savage uppercuts bankers are taking on the chin, reports Steven Irvine

At the recent signing of a syndicated loan in Hong Kong, one of the bankers was heard to quip: “Ah, a Dunhill pen Well, at least this should improve our profitability on the deal ”

In case you haven’t heard, this is not a good time to be a commercial banker in Hong Kong Spreads on local syndicated loans have been narrowing dramatically Meanwhile, an excess of liquidity in the system promises little respite

If, however, you are a top-rated Hong Kong corporate, then in the words of...

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