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.
Taiwan’s central bank has agreed with its counterpart in China to create renminbi clearing in Taiwan. Trade settlements could shoot up to $12 billion by the end of the year as a result.
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.