HSBC is a financial house that has been part of the Institutional banking and micro-finance revolution that started with the recognition that poor people and the middle income groups needed access to loans and that they could use these funds productively.
It has also changed the perception that poor people are not credit worthy. Records have shown that, instead, they are a good risk, with higher repayment rates than conventional borrowers. In some of the most successful financial institutions, repayment rates are as high as 98 per cent. One business house spearheading these efforts to bring banking closer to the people is HSBC.
The HSBC Group established a presence in sub-Saharan Africa in 1981 and entered the South African market in 1995. It expanded its regional operations by opening a corporate and institutional bank in Johannesburg in 2003. Initially a branch of HSBC Bank plc (incorporated in the United Kingdom), in 2007, the Johannesburg office became a branch of The Hongkong and Shanghai Banking Corporation Limited (incorporated in Hong Kong).
This bank aims to be where the growth is,connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfill their hopes and realise their ambitions.The product offering has therefore been divided into global banking, global markets, trade & receivable finance, payments and cash management as well as business.
Global banking serves the needs of major corporate and institutional clients around the world. Global markets boasts of 87 treasury sites in over 60 territories which combines sophisticated 24 hour global coverage with detailed local market knowledge.Trade and receivables finance solutions help you unlock funds trapped in inventory or receivables to keep the supply chain and your business moving forward. Payments and cash management is about gaining more control over incoming and outgoing cash flows.The business segment focuses on connecting customers to opportunities.