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.
In order to meet the needs of China’s multinationals expanding abroad, Safe is overhauling its foreign debt rules so that Chinese MNC’s can better support overseas subsidiaries.
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).
Deutsche Bank and Siemens deepened their cash management relationship by implementing a Robo structure, adding to their existing multi-bank Pobo operations in country.
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.
In this month’s Working Capital Chronicle, HSBC was mandated as LME’s renminbi concentration bank. Meanwhile Deutsche Bank and Citi also run innovative cash deals.
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.