The Year of the Tiger is upon us and banks are once again splashing out for their red packets – a highly sought-after corporate premium by both clients and collectors. finews.asia reviews the designs by the region’s top private banks.
Individuals throughout Asia celebrating the Lunar New Year will once again maintain the more than 1,000-year tradition of passing out cash to family, friends and loved ones in red packets, also known as «lai see» in Cantonese or «hongbao» in Mandarin.
The red packets are marked by major companies as one of the most important corporate premiums of the year in a region where the custom is widely practiced not only within China but also amongst the Chinese diaspora as well as non-Chinese.
High in Demand
Financial institutions – especially private banks with their uber-wealthy clients – place great importance in the red packets, featuring elaborate designs, auspicious motifs and commissioned artists.
In fact, they are so highly sought after that their demand is not limited to just clients and their network but even collectors – a single red packet can yield as much as HK$25 ($3.2) in the secondary market.
finews.asia takes a look at how Asia’s top private banks are keeping traditions alive in the Year of the Tiger.
Credit Suisse
In line with the historical practice of featuring Chinese zodiac animals – especially for those interested in collecting for the full 12-year cycle – the tiger is heavily featured in Credit Suisse’s red packets this year.
The third animal of the Chinese zodiac is centered in a gold-embossed design against a backdrop of elegant traditional scenery. A related gold-embossed motif can also be found welcoming the Year of the Tiger.
Accompanying the set is an ornate pouch to place red packets and other small items.
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