HSBC Bank Malaysia’s country head of commercial banking Andrew Sill said SMEs make up half of the customer base, contributing about one-third of the bank’s earnings, with SME businesses forming a large proportion of it. — Reuters pic
“SMEs have always been an important segment for HSBC Malaysia and a significant leg of our strategy for growth. With SMEs making up 98.5 per cent of business establishments in Malaysia, he said it makes sense for the bank to target growth in the SME segment as a growth engine for its commercial banking.
Based on market insights, she said HSBC saw the need to provide SME on-demand support and new ways of banking for the latter. “We already have the HSBC net trade transaction tracker that provides powerful tools to help customers manage their payments and collection, as well as enhanced trade finance services.