Bank of China (Hong Kong) gave each of its 15,000 employees HKD500 (US$64) in cash to mark the Year of the Horse, unchanged from previous years, according to South China Morning Post.
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People are crossing the road in front of an HSBC sign in Hong Kong, on April 30, 2024. Photo by NurPhoto via AFP |
It also gave them a larger gift basket with eight items compared to last year’s six. The basket includes mushrooms, morel mushrooms, dried scallops, fish maw, XO sauce, dried conch, pistachios and American ginseng.
HSBC and its subsidiary Hang Seng Bank distributed HKD500 electronically to each of their combined workforce of nearly 26,000, totaling about HKD13 million – the biggest payout among Hong Kong banks.
“The Year of the Horse symbolizes vitality, speed and success – qualities that perfectly reflect the energy we’re bringing into 2026,” said Maggie Ng, CEO of HSBC Hong Kong, in her new year message to staff.
ZA Bank, the city’s largest virtual lender, remains the most generous, granting staff HKD1,000 in cash.
The digital bank has also added a HKD10,000 bonus for each employee after signing up one million customers in 2025.
The bank gave employees an extra day of leave on Friday. While its headcount is undisclosed, virtual lenders in Hong Kong typically run lean operations with only a few hundred staff as they do not maintain physical branches.
“The Horse symbolizes energy and progress,” said Calvin Ng, CEO of ZA Bank, in a statement. “Through concrete actions – including the extra day off and a total of HKD11,000 in New Year rewards – we want our staff to take this time to recharge with their families and adjust their pace for the challenges ahead.”
Employees at investment banks UBS, Morgan Stanley and Citigroup have recently received bonuses, with payouts rising by about 20% this year, supported by numerous initial public offerings.
Citigroup’s return-to-work gift ranks second after ZA Bank, with the US lender paying HKD800 to each of its nearly 4,500 staff.
The number eight is considered auspicious in Chinese culture and is associated with wealth.
In her Lunar New Year message, Citigroup Hong Kong CEO Aveline San said the bank would focus this year on artificial intelligence innovation and sustainable business growth.
“Building on the strong momentum we have gained last year, we will continue to capture the immense China opportunities, leverage Citi’s global network spanning over 180 markets to support clients across key corridors, and lead in wealth with our world-class advisory offering,” she said.
