HSBC is being drawn into Hong Kong's political turmoil with prote...
) is being drawn into Hong Kong’s political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-center headquarters.
Until now, HSBC had largely escaped direct involvement in the often-violent anti-government protests that have shaken Hong Kong for more than six months even as other companies with perceived links to Beijing have seen premises vandalized, including Bank of China , Hong Kong’s second largest bank behind HSBC.
HSBC said in a statement after the arrests that the decision to close the account was “in accordance to international regulatory standards”. The two lions were daubed with graffiti and briefly set alight after being doused in a flammable liquid.“We are engaging conservation experts to advise us on the professional restoration required and the process can take time,” the bank said in a statement.More than 90% of the $4.4 billion generated by HSBC’s retail banking and wealth management unit in the six months to last June, came from Hong Kong.
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