PAO Bank Limited has been granted Type 1 (dealing in securities) and Type 4 (advising on securities) licences by the relevant regulator, officially signalling its entry into the wealth management sector.
PAObank’s wealth service covers a diverse range of investment products, including Hong Kong stocks, U.S. stocks, funds, and money market funds, thereby further strengthening the retail banking wealth management portfolio. PAObank is set to soft-launch its wealth services for selected customers, with a public launch on the horizon.
PAObank’s wealth service offers broker-level trading experience with protection from a licensed bank, combining the competitive advantages of both online brokers and banks.
As the first digital bank in Hong Kong to offer both pre-market and after-hours trading sessions for U.S. stocks, PAObank extends U.S. trading sessions up to 16 hours a day, providing customers with the flexibility to react to market news or global events, even during the daytime in Hong Kong, without sacrificing peace of mind.
Ronald Iu, Chief Executive of PAObank, stated that PAObank “is poised” to expand its retail banking business by tapping into the investment market.
“Our wealth service combines speed, reliability and flexibility, offering customers a simpler and more seamless investment experience, seizing the opportunities to grow wealth just a fingertip away.
“We are honoured to be the first digital bank to offer up to 16-hour U.S. stocks trading, elevating customer experience.
“PAObank continuously enhances the retail banking services, now offering investment, insurance, deposit and cross-border remittance features, supporting customers’ financial needs at every stage of life, solidifying our position as Ping An Group’s integrated financial platform in Hong Kong,” the bank’s chief executive explained.
Whether seeking speed in stock and fund investments or flexibility in asset allocation, PAObank’s one-stop solution is designed to meet diverse financial needs, powering up the investment opportunities with speed, security and flexibility.
