Monday, May 11, 2009

What can US Banks learn from HSBC?

While most American banks are under a lot of financial stress and need a lot of tax payers money to survive. This matter is causing a lot of resentment and anger among ordinary people in USA. On the other hand, HSBC is the leading bank of England and like most banks they suffered in the last quarter of 2008. Now, it seems that HSBC has passed the worst time and the first quarter of 2009 brought better condition for the bank compared to one year ago. It has not yet asked for any kind of support from the British government. It also shows that it has good financial health at this moment.

I wonder what American banks can learn from HSBC? Well, I feel that the most important thing that American banks can learn from HSBC is that Asia is an important region for banking industry. HSBC has very strong presence in most Asian countries and the main growth of the bank is coming from Asia.

"Asia has proven resilient, with China and India continuing to grow robustly, particularly China where stimulus initiatives have clearly had a direct domestic impact,” these words came from HSBC Group Chairman Stephen Green.

I would have been happy if these words came from the Chairman of any American bank.

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