UOB's Hong Kong franchise reportedly remains open for business after a number of banks temporarily closed branches in the city-state amid pro-democracy demonstrations

UOB's Hong Kong franchise remains open for business, the bank has said after a number of banks temporarily closed branches in the city-state amid pro-democracy demonstrations, according to Business Times (of Singapore).

"We are monitoring the situation closely and are ready to implement our business continuity plans if needed," a spokesman was quoted as saying. Singapore-headquartered UOB made no reference to the issue on its corporate website.

As reported yesterday, Standard Chartered, HSBC, Bank of East Asia, China CITIC and Bank of China (Hong Kong) have closed some of their branches because of the demonstrations.