HANG SENG BANK (00011.HK) announced a reduction in the Hong Kong dollar prime interest rate from 5.375% to 5.25%, a decrease of 12.5 basis points.

HANG SENG BANK Executive Director and CEO She Wing-Yin stated that the decision to lower the Hong Kong dollar prime rate was mainly based on the interest rate cut measures by the USA Federal Reserve, the macroeconomic environment, and various market factors. The bank will continue to closely monitor the external environment and market developments to adjust interest rates accordingly at the right time.

The bank also reduced the annual interest rate for Hong Kong dollar savings deposits, with the annual interest rate for savings deposits of balances reaching 5,000 HKD or more being lowered from 0.375% to 0.25%.