Business Daily from THE HINDU group of publications
Wednesday, Apr 30, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Apr 30, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Foreign Banks HSBC strategy to hedge slump L.N. Revathy Coimbatore, April 29 “Economic slump affects banks that are transaction focused. Our best hedge against any such slump is in offering a mix, by taking the portfolio approach,” Mr Puneet Chaddha, Head (Commercial Banking), Hongkong and Shanghai Banking Corporation (HSBC), said here on Tuesday. The bank recently revamped its product and platform portfolio. Announcing the roll out of its commercial banking services in this part of the country, Mr Chaddha said that these services were being re-launched in strategic markets. “Our offerings have been calibrated to suit the entire range of customers from tiny units to big corporates. We have increased our presence on ground to cover a large part in this region,” he added. “For a healthy mix of customers, the parameter is not just in lending but in transaction banking, trade services, factoring and a range of borrowing solutions,” he said in reply to a question. When asked to quantify HSBC’s exposure in the commercial banking services space, he said “It is a small, but ambitious market.” More Stories on : Foreign Banks
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