Timothy Morano
Jul 28, 2025 12:31
The Hong Kong Monetary Authority reports a 33% rise in banking complaints for early 2025, highlighting key issues and best practices for financial institutions.
The Hong Kong Monetary Authority (HKMA) has released the 26th edition of its semi-annual publication, Complaints Watch, which reveals significant trends and issues within the region’s banking sector. The report, published on July 28, 2025, highlights a substantial increase in banking complaints, prompting calls for enhanced customer communication by authorized institutions (AIs).
Rise in Banking Complaints
According to the HKMA, the first half of 2025 witnessed a total of 1,889 banking complaints, marking a 33% rise compared to the same period in the previous year. This surge is primarily attributed to a 54% increase in grievances related to the operation of banking accounts. In response, the HKMA has advised AIs to fortify their communication strategies to reduce customer inconvenience.
Emphasis on Customer-Centric Practices
The latest issue of Complaints Watch includes a feature on effectively handling complaints concerning banking account operations, stressing the importance of customer-centric design in banking products. The HKMA underscores the necessity for AIs to adopt best practices that prioritize customer experience, thus fostering better banking relationships and reducing complaints.
Additional Resources
For those interested in exploring the detailed findings and recommendations, the full Complaints Watch report is accessible on the HKMA website. This document serves as a valuable resource for financial institutions seeking to align with the HKMA’s guidelines on maintaining high standards of conduct and prudent business practices.
As the banking sector continues to evolve, the HKMA’s insights provide critical guidance for AIs to navigate emerging challenges while ensuring customer satisfaction remains a priority.
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