DBS: Randy for China expansion?

Hong Kong is in a funk, but could the Closer Economic Partnership Agreement (CEPA) provide a boost to the right bank? Randy Sullivan, CEO of DBS (HK) discusses.

What's your take on the banking environment for the rest of this year in Hong Kong

Sullivan Ever since 2002, we've seen very high levels of credit card defaults and bankruptcies, but these high levels could see some improvement. There are two types of bankruptcies. One is households that have suffered financial problems recently. The other group is the one which has had financial difficulties for a long time and exploited the recent relaxation of the bankruptcy rules. This states that their record will be washed clean after four years instead of seven previously. But the growth in the numbers of the second group is receding.

The other important factor is...

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