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.
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.
BHP Billiton and Xiangguang Copper have transacted a first of a kind back-to-back electronic letter of credit over Bolero, shaving 20 days off a typical transaction.
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.
Indicator of confidence in trade finance is modestly up in Asia, according to a recent study commissioned by HSBC, but it’s debatable how useful the index is.
HSBC has hired Bhriguraj Singh as its head of product management for global trade and receivables finance Asia Pacific, a new role for the British-headquartered bank.