Banks Join Corporate Backlash Against Protests

Several major banks took out full-page newspaper advertisements on Thursday to condemn violence and appeal for reconciliation amid ongoing anti-extradition protests.

The Bank of East Asia, HSBC, and Standard Chartered separately took out advertisements conveying a similar message – a week after local property developers issued similar statements to condemn the escalating violence.

In its advertisement, HSBC said it is “very concerned about recent social events, and strongly condemns any form of violence and behaviour that disrupts social order”.

It called for dialogue to resolve differences, saying peaceful means should be used to find a way out of the current extradition bill crisis.

Standard Chartered said it supports One Country Two Systems, and the SAR government’s efforts in effectively maintaining social order and safety.

The bank also urged members of the public to help Hong Kong return to peace, and create an environment that is conducive to communication.

Meanwhile, the Bank of East Asia urges people to oppose violence, safeguard the rule of law, boost the economy and build harmony in the city.

Many local businesses have been caught up in the highly-politicised battle between anti-government protesters and police, with people from both camps singling out individual firms for condemnation or praise depending on their perceived political position.

Hong Kong’s flagship airline Cathay Pacific has been badly hit by the fallout over protests, with China’s Civil Aviation Authority banning any staff members who support the protests from manning any flights in mainland airspace.

Its CEO Rupert Hogg and senior executive Paul Loo, along with several pilots have left the company in recent weeks.