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.
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.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
Royal Bank of Scotland wins cash mandate with IATA; Standard Chartered and Agricultural Bank of China start clearing in UK time; and China Citic Bank all set for e-Docs.
South Korean CFOs and treasurers expressed high levels of dissatisfaction with short-term debt services relative to their regional peers, according to East & Partners research.
A survey of China’s top companies reported a marked dissatisfaction with trade finance and liquidity management services, products they also ranked as among the most important, according to East & Partners.
The British bank, HSBC, has hired Quang Buu Huynh from Vietnam to Hong Kong to run global trade and receivables business in an effort to drive trade revenue in the bank’s key markets.