Full Breakdown
Hong Kong Banks Celebrate Lunar New Year with Employee Rewards and Client Incentives
2/20/2026, 4:47:04 AM
Employee Benefits Amid Economic Recovery
As Hong Kong banks prepare for the Lunar New Year, thousands of employees will receive a return-to-work lai see on Friday, alongside various additional benefits. Traditionally, lai see, or red envelopes containing money, are given to employees as a gesture of appreciation. This year, Bank of China (Hong Kong) will distribute HK$500 (approximately US$64) to each of its 15,000 staff members, maintaining the same monetary value as in previous years. However, the bank has enhanced its gift hampers, increasing the number of items from six to eight, which now include mushrooms, dried scallops, fish maw, and American ginseng.
HSBC and its subsidiary, Hang Seng Bank, are also participating in this tradition by electronically distributing HK$500 to their combined workforce of nearly 26,000, totaling around HK$13 million. Maggie Ng, CEO of HSBC Hong Kong, expressed optimism for the upcoming year, stating, “The Year of the Horse symbolises vitality, speed and success – qualities that perfectly reflect the energy we’re bringing into 2026.”
Strategies to Attract Wealthy Clients
In addition to rewarding employees, Hong Kong banks are employing various strategies to attract wealthy clients during the Lunar New Year. With an estimated 1.43 million mainland visitors expected to cross the border during the holiday, banks view this period as an opportunity to enhance their wealth management and insurance services. Major banks, including HSBC, Standard Chartered, Citigroup, and DBS (Hong Kong), are offering incentives such as gold souvenirs, mahjong sets, and exclusive dinners with views of fireworks.
HSBC is providing gold souvenirs featuring popular Chiikawa characters to select customers, while Hang Seng Bank is conducting a lucky draw for gold medals. Standard Chartered and Citibank are offering gold coins with a Year of the Horse design, and DBS Hong Kong is giving away gold-plated Fortune Horse ornaments in a lucky draw. The price of gold has seen significant fluctuations, reaching a record high of US$5,608 per ounce in January before settling just below US$5,000.
Criticism & Opposition
While the festive rewards and incentives are seen as positive gestures, some critics argue that such lavish spending by banks may not resonate well with the broader public, especially in light of ongoing economic challenges. Concerns have been raised about the disparity between the rewards for bank employees and the financial struggles faced by many residents in Hong Kong.
Official Statements & Responses
Bank officials have emphasized the importance of these traditions in fostering a positive work environment and enhancing customer relations. Maggie Ng highlighted the collective strengths of the bank's workforce in her New Year message, reinforcing the commitment to creating opportunities for customers.
Verbatim Quotes
- “The Year of the Horse symbolises vitality, speed and success – qualities that perfectly reflect the energy we’re bringing into 2026,” — Maggie Ng, CEO of HSBC Hong Kong
- “The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on February 23, a lengthy period that banks see as a golden opportunity to sign up high-net-worth customers to boost their wealth management and insurance businesses.” — Unattributed bank official
As Hong Kong banks navigate the festive season, their dual focus on rewarding employees and attracting affluent clients reflects a strategic approach to capitalize on the economic recovery and the Lunar New Year celebrations.
