Hong Kong Monetary Authority has introduced measures to prevent coronavirus spread, predicting 20-30% of bank branches are expected to be closed temporarily.

The spread of the coronavirus has triggered bank branch closures in Hong Kong. The Hong Kong Monetary Authority (HKMA) says that has received reports from banks that, in order to continue operating on this basis, some of their branches will need to be closed or operating hours will need to be shortened temporarily. According to the information provided, around 20-30% of bank branches are expected to be closed temporarily and some of the remaining branches will be open for restricted hours.

Bank customers are advised to use online or phone banking, ATMs and other electronic banking services as far as possible, and to check banks’ latest announcements on service arrangements via their websites or customer service hotlines before visiting branches. In addition, the Hong Kong Association of Banks will provide on its website regular updates on the service status of bank branches.

The HKMA says it will continue to monitor developments relating to the coronavirus and maintain close contact with the banks.