Hong Kong: Hong Kong’s financial sector has been called into action to assist residents devastated by the Wang Fuk Court inferno, with major banks rolling out emergency steps to ensure victims can quickly access vital funds and services. HSBC, the city’s largest bank, was among the first to announce special support measures for those impacted by the tragedy.
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) issued a joint appeal urging all banks to provide immediate assistance to affected residents. Their recommendations include helping victims retrieve or replace lost banking documents, offering grace periods on loan repayments, waiving fees and penalties, and ensuring smooth access to personal funds during this critical period.
Authorities also advised banks to boost frontline staffing especially at branches in the Tai Po district to handle the surge in urgent requests from displaced residents.
“The HKMA and the HKAB will continue to closely monitor the development of the situation and co-ordinate with the industry to address the affected families’ needs for urgent banking services and liquidity,” the central bank said in a statement Thursday.
HSBC responded swiftly, expressing that it was “deeply saddened” by the disaster. The bank has activated a set of emergency measures, including dedicated hotlines, additional staff support, and streamlined procedures to help survivors and their families regain financial stability amid the crisis.