HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
With new head Mark Troutman appointed, as well as two new regional coordinators, HSBC is set to launch its global corporate focused sales team for payments and cash management (PCM).
Philippines finance minister Cesar V. Purisima and delegates at CT’s recent event in Manila outlined strategies for growth in the country and how companies will benefit.
Vietnam Bank for Agriculture and Rural Development has signed up for Swift’s Know Your Customer (KYC) Registry. Similar initiatives could help treasurers get onboarded with banks faster.
As one of the world’s most important banks for treasurers pivots to Asia, CT speaks to HSBC's head of cash & payments, Kee Joo Wong about the implications for corporates.
Analysts at Fitch Ratings say Asia-Pacific banks' vulnerability rises as China’s growth is slowing and economists at multiple institutions cut GDP estimates for the country.
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.