Total transaction value of Hongkong Bank Down 10% on year

Hongkong and Shanghai Banking Corp., the main local operating unit of HSBC Holdings (0005), saw a 10 percent drop in total transaction value on year due to economic weakness, said Dicky Yip, its deputy manager. The value of transactions conducted at counters accounted for 13 percent of total transactions, versus 17 percent a year before and the ratio of transactions via phone and Internet increased to 21 percent from 7 percent. Transactions via other means dropped to 66 percent from 76 percent a year before, he said.

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