HSBC has been forced to shutter more of it branches in Hong Kong after becoming entangled in the political turmoil gripping the territory.
The move to close down outposts and suspend overnight ATM services at weekends follows the mauling of the lion statues which guard the bank's Hong Kong HQ by protestors, who daubed graffiti and set them alight with liquid paraffin.
The activists have turned their ire on HSBC over the alleged closure of an account that was being used to raise money for the protest movement. The bank claism the accounts were closed following direct instructions from the customer and in accordance with international regulatory standards.
HSBC has now closed eight of its branches in the territory as the violence gripping the country escalates, further stepping up its safeguarding measures following the initial closure of two branches and seven indooor ATM clusters on New Year's Day.
More than 90% of the $4.4 billion generated by HSBC's retail banking and wealth management unit in the six months to last June, came from Hong Kong.