HONG KONG, Sept 11 (Reuters) - HSBC Holdings will raise the cap of home loan rates in Hong Kong by a max of 50 basis points, a spokesperson of the bank said on Monday, as it tries to maintain its profit margin amid higher interest rates.
The cap of new mortgage loans linked to the Hong Kong interbank offered rates (HIBOR) by HSBC will be lifted to 4.125% from 3.625%, effective Sept. 18, according to the spokesperson.
"We have decided to revise our mortgage rate following a recent review, which takes into account a range of factors, including HIBOR, our competitiveness and market pricing," the spokesperson said in a statement. (Reporting by Xie Yu and Donny Kwok; Editing by Himani Sarkar)
