Citigroup is set to post record annual revenues in Hong Kong, even as the city struggles under the weight of months-long protests and the US-China trade war.
The bank does not publish a breakdown of earnings by market, but revenues for its Hong Kong franchise were up 8 per cent year on year in the last quarter, according to a person familiar with the matter.
That puts Citi on track to beat its revenue targets for the year despite Hong Kong slipping into its worst recession since the global financial crisis.
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