Major banks, insurance companies and property developers in Hong Kong have pledged to provide urgent banking and insurance services, as well as temporary accommodations, to households affected by the Tai Po Wang Fuk Court fire.
“We have called on the banking industry to exercise discretion and provide flexibility to assist those affected — for example, by helping them access liquid funds, prioritizing and expediting the process of banking document replacement, offering repayment grace periods and waivers of penalties and service charges, as well as increasing manpower in Tai Po branches to ensure timely support for the affected residents in the district,” the Hong Kong Monetary Authority and the Hong Kong Association of Banks said in a joint statement.
HSBC will offer special handling for impacted customers who are unable to present their identity cards, passbooks or ATM cards for banking services. The bank will also expedite the replacement process for ATM, credit, and debit cards.
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In addition, HSBC Life will support affected individual life insurance policyholders by providing fast-track, personalized claims handling and online mental health support.
Standard Chartered Bank (Hong Kong) has launched several support measures, including assisting customers who are unable to provide identification documents to withdraw cash, and reissuing bank documents.
The bank will handle repayment extensions for various loans, waive late payment fees and handling charges, deploy additional employees to its Tai Po branch, extend service hours, and establish a 24-hour hotline for inquiries from affected customers.
Bank of China (Hong Kong) said it will expedite the reissuance of bank cards — such as ATM, credit, and debit cards — and waive related reissuance fees.
Depending on individual circumstances, the bank will handle mortgages, personal loans, and credit card loans on a case-by-case basis, offering repayment extensions and waiving penalty interest. The bank extends the service hours at its four branches in Tai Po.
Industrial and Commercial Bank of China (Asia) has established a no-queue channel to provide affected households with essential financial services, including cash withdrawals, account inquiries, and loss reporting.
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AIA Hong Kong has set up a 24-hour hotline to provide immediate assistance for urgent cases, including medical and protection claims. The insurer is proactively reaching out to potential affected customers based on its records to provide appropriate support.
Hang Lung Properties will provide 20 Kornhill Apartment units in Taikoo Shing for two months as transitional accommodations for affected households, while Great Eagle Group will allocate 100 guest rooms of its Langham Hospitality Group for similar purposes.
