Property News · November 25, 2019

Hong Kong King Wai buys Portuguese digital bank BNI Europa, tapping opportunity as Hongkongers seek overseas residency amid political crisis


Conglomerate Hong Kong King Wai Group has acquired a digital bank based in Portugal, in a move motivated by Beijing’s push to forge closer business ties with Portuguese-speaking economies and the rising demand from Hongkongers seeking permanent residency in Europe amid escalating unrest in their home city. The group secured the approval of the European Central Bank in early October to acquire over 80 per cent of BNI Europa, which has assets and deposits of about 500 million euros (US$554…

Source : South China Morning Post
Read more…Hong Kong King Wai buys Portuguese digital bank BNI Europa, tapping opportunity as Hongkongers seek overseas residency amid political crisis