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Wealth Management Connect offers banks the opportunity to generate income from other sources: KPMG

The banking sector in Hong Kong had a challenging year in 2020, with low interest rates putting pressure on net interest margins (NIM) as a key source of revenue. More banks have been considering the Wealth Management Connect (WMC) scheme as the first step towards greater opportunities to generate income from other avenues, such as fee-based wealth management activities, according…

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