HSBC inaugurates flagship centre to support SMEs

Lender posted 42% increase in lending to SMEs and 22% growth in deposits.

Around 52% of local small businesses are engaged in international business while 58% say they are planning to go international within the next two years, according to the latest wave of HSBC Global Small Business Confidence Monitor.

International trade is increasingly becoming a key engine of growth for the Asian markets. To serve the growing need of local businesses for financial services, HSBC on Wednesday officially opened its flagship HSBC Business Centre in Hong Kong, according to a HSBC report.

At the opening ceremony, Head of HSBC Commercial Banking Hong Kong Albert Chan said: “As the gateway of mainland China, Hong Kong is a place full of international business opportunities. In the first quarter of this year, we recorded a 25% increase in customers with international banks needs on a year-on-year basis.”

“HSBC is committed to provide our customers with a seamless cross-border banking experience. Through our global experience and footprint, local knowledge and business banking capabilities, we will continue to work in partnership with local businesses and enable them to achieve growth, both domestically and internationally,” Chan added.

HSBC’s Chief Executive Officer Hong Kong Mark McCombe, Global Co-head Commercial Banking John Coverdale and Lena Chan, Managing Director and Head of Business Banking for Hong Kong, are also officiating at the opening.

“On the business front, we have continued to generate strong growth for our Business Banking segment. As of May 2010, we have recorded a 42% increase in lending to SMEs year-on-year and a 22 per cent growth in deposits. Trade business from SMEs showed an even stronger growth of 83 per cent,” said Chan.

Covering a floor area of around 6,000 square feet on level six of HSBC Main Building in Central, the flagship HSBC Business Centre is dedicated to provide services including trade, cash management, financing, investments, insurance and company account opening. The Centre also processes registrations for HSBC’s Phonebanking and Business Internet Banking services, which are increasingly popular among business customers.

With the new harbour-view location, private customer meeting rooms and telephones with direct connection to our phone banking service, the flagship HSBC Business Centre provides a comfortable environment for customers to enjoy a wide range of financial services.