Alastair Ryan

Alastair Ryan inquired about potential upside from asset quality improving at Hang Seng Bank, asking if active steps are being considered or if it's about patience with the property cycle. He also asked about a slowdown in new account openings in Q4 for wealth, questioning if it's seasonal or indicative of a change.

Answer

Group Chief Risk and Compliance Officer Pam Kaur clarified that the asset quality comment referred to Hang Seng's strong pre-impairment margins and lower ECL charges compared to prior years, applicable to both brands, and not specific active steps beyond existing rigorous policies. Regarding new-to-bank customers, she confirmed 1.1 million for the Red Brand in 2025, with Q4 being good. Pam Kaur noted a new fee for customers with balances less than HKD 10,000, which might lead to slightly slower acquisition in 2026, but the focus on affluent customers and overall income improvement remains strong.