Total assets of leading licensed banks in Hong Kong 2023
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In 2023, Hong Kong and Shanghai Banking had assets valued at over 10 trillion Hong Kong dollars. Based on asset value, the bank was the leading institution in the region. Hong Kong and Shanghai Banking generated 97 billion U.S. dollars in net profits in that year, making it the most profitable licensed bank worldwide.
Banking in Hong Kong
After logistics, the financial sector is the second-largest industry in Hong Kong, and banking accounts for the largest subsection of the financial sector. The city is home to over 190 banks that employ more than one hundred thousand people. Not included in the number are the various representative offices of foreign banks.
Other financial sectors
Not only banking, but numerous other financial sub-sectors are integral to Hong Kong’s financial industry. Insurance companies in the city accounted for 3.9 percent of the region's GDP and employed more than 90 thousand of its inhabitants. The city’s stock market is not only one of the world's largest, but also has the among highest number of initial public offerings in the world.
