The Hong Kong Banking industry is intrinsically concentrated to a few large players, namely the big four banks (HSBC, BOCHK, Hang Seng, Standard Chartered) which dominate most of the market shares. Yet not any of them are worthy of investing in the form of buy-and-hold. For example, although HSBC has been offering sound dividends for decades, its reluctance to cut dividends even when payout exceeds 100% multiple times has led to the downfall of its earning power. In fact, not many bank stocks are good long-term investments because many offer mediocre or even negative returns