Best Banks in Hong Kong

Top 10 Best Banks in Hong Kong

Hong Kong's dynamic financial scene offers a wide range of banks, each with unique strengths catering to diverse needs. Whether you're a local, expat, or business owner, our guide to the top 10 banks in Hong Kong will help you find the perfect fit, from established giants like HSBC and Bank of China (Hong Kong) to innovative newcomers like DBS Bank.

Hong Kong, a bustling global financial hub, boasts a diverse and competitive banking landscape. With numerous banks vying for attention, choosing the best one for your needs can be a daunting task. 

Whether you are a local resident, an expatriate, or a business owner, this comprehensive guide aims to simplify your decision-making process. 

We will delve into the top 10 best banks in Hong Kong, highlighting their key features, strengths, and areas of expertise.

1. DBS Bank (Hong Kong)

Rooted in Singapore, DBS Bank has established a formidable presence in Hong Kong, operating in 18 key markets globally. With a workforce of approximately 36,000 employees and total assets exceeding $539 billion (as of 2022), DBS Bank commands respect as a global banking powerhouse.

Accolades and Recognition

Awarded the "World's Best Bank" by esteemed publications like Global Finance and Euromoney.

Crowned the "Safest Bank in Asia" by Global Finance for an impressive 13 consecutive years (2009-2021).


Seamless integration with accounting software like Xero and API integration for customized solutions.

Rapid account setup, with activation within two business days.

Diverse account offerings, including Corporate Accounts, Social Enterprise Bundles, and RMB Business Accounts.


Complex eligibility criteria that vary depending on the account type.

Limited customer support channels.

2. HSBC Hong Kong

Best Banks in Hong Kong

Tracing its roots back to 1865, the Hong Kong and Shanghai Banking Corporation (HSBC) has etched its name as a global financial services titan, serving over 60 nations and 39 million clients worldwide.

Accolades and Recognition

Ranked 2nd on The Asian Banker's list of "Strongest Asia Pacific Banks" based on balance sheet strength.

Recognized as Hong Kong's Best Domestic Bank in 2022 by AsiaMoney.

Awarded the Best International Bank for the Greater Bay Area in 2023 by AsiaMoney.


Unparalleled global presence and esteemed reputation.

Well-developed mobile app for seamless account access.

Comprehensive suite of financial products and services for businesses, including accounts tailored to startups, SMEs, corporate cards, trade services, and business loans.


Higher fees, especially for services like foreign exchange transactions.

Requires a substantial minimum account balance.

3. Hang Seng Bank

Headquartered in central Hong Kong, Hang Seng Bank has carved a niche for itself by serving over half of the city's population with a diverse range of domestic and global services, including accounts in various foreign currencies.

Accolades and Recognition

Ranked 4th on The Asian Banker's list of strong Asia Pacific banks.

Named the Best Hong Kong Bank for SMEs in 2021 by Asiamoney.

Awarded the Best Payments Bank in 2023 by The Asian Banker for the 7th consecutive year.


Strong local presence and solid reputation in Hong Kong.

Pioneering e-services like Mobile Cash Withdrawal.

Attractive rewards programs for bank customers, including credit card holders and the Hang Seng Preferred Banking Club.


Limited international presence and account accessibility from other countries.

Narrower range of financial products and services compared to competitors.

4. Bank of China (Hong Kong)

As a subsidiary of the Bank of China, Bank of China (Hong Kong) Limited, also known as BOCHK, stands tall as the 2nd largest commercial banking group in Hong Kong, boasting over 190 branches and total assets exceeding HKD 3.6 trillion.

Accolades and Recognition

Ranked 1st on The Asian Banker's list of strong Asia Pacific banks.

Bank of China (Hong Kong) was named the Best Bank in Hong Kong for CSR in 2022 by Asiamoney.

Awarded the "Best Retail Bank in Hong Kong" in 2023 by The Asian Banker.


Strong network and ties between Hong Kong and mainland China.

Solid reputation and reliability, as evidenced by its top ranking on The Asian Banker's list.

Wide range of financial products and services available to customers.


Limited English language support for customers.

Potentially complex account opening process, often involving physical branch visits and extensive documentation.

5. Citibank Hong Kong

As the first foreign bank to offer services in Hong Kong in 1902, Citibank (or Citi) boasts a rich history in the region, complemented by a robust global brand and its status as one of the largest credit card issuers in the country.

Accolades and Recognition

Ranked 43rd on The Asian Banker's list of strong Asia Pacific banks.

Named Hong Kong's Best Corporate Bank in 2023 by Asiamoney.


Strong global presence and international recognition.

Diverse range of credit card options with attractive rewards.

Convenient access to online and mobile banking services.


Higher fees and interest rates compared to market competitors.

Website navigation challenges, potentially hindering access to specific information or services.

6. Standard Chartered Hong Kong

Standard Chartered Bank (Hong Kong), a subsidiary of the multinational Standard Chartered, operates in over 60 countries and is one of the three commercial banks authorized by the HKMA to issue Hong Kong dollar banknotes.

Accolades and Recognition

Ranked 9th on The Asian Banker's list of strong Asia Pacific banks.

Awarded for its Digital Trading Platform and Customer Service at the Bloomberg Businessweek and Chinese Edition Financial Institution Awards 2023.


International recognition and presence across multiple countries.

Offers comprehensive investment insights and market information for businesses.

Dedicated Relationship Managers to assist with financial needs and investment solutions.


Relatively high fees and interest rates.

Complicated fee structures with tiered-based pricing and additional conditions.

7. Bank of East Asia (BEA)

Established as Hong Kong's largest independent bank and one of two family-run banks in the region, the Bank of East Asia boasts total assets of approximately HKD 872 billion, according to its latest financial reports.

Accolades and Recognition

Received notable awards in 2023, including Outstanding Retail Banking from the Hong Kong Economic Journal Finance Services Awards of Excellence.

Awarded Domestic Retail Bank of the Year in Hong Kong by Asian Banking and Finance Retail Banking Awards.

Recognized as Outstanding Retail Bank of the Year by Bloomberg Businessweek Chinese Edition Financial Institutions Awards.


Long-standing history and well-known reputation in the Asia market.

Pioneered industry-leading improvements for customers in mainland China, being the first foreign bank to provide RMB cards in the region.

Diverse range of services catering to a diverse customer base.


Limited global presence and recognition, potentially hindering account access and support outside Asia.

Lack of publicly available customer reviews, making it challenging to assess the bank's performance based on user experiences.

Choosing the best bank in Hong Kong ultimately depends on your individual needs and preferences. Consider factors such as the bank's reputation, service offerings, fees, digital capabilities, and branch network before making your decision. 

With this comprehensive guide, we hope you are now better equipped to choose the best banks in Hong Kong for your financial needs.