November 2020

Agility is becoming more crucial for lenders than ever

Hong Kong’s jobless rate from August to October period stood at 6.4%, a 16-year high, according to the latest labor force statistics. Recently, we’ve seen that travel sector was hit hard, Cathay Pacific and travel agencies have been cutting jobs. The government’s Employment Support Scheme appears stalled and will be ending soon, the economy will be prepared for a wave of layoffs from SMEs and some of major corporations. COVID has induced economic uncertainty to stay longer, and companies will need to tap into greater agility to get over difficulties from market volatility. Banks and money lenders are required to help borrowers through a variety of relief services, such as […]