HSBC, the world’s eighth largest bank by loans, declared its network in Asia poses a formidable competitor to major Australian banks seeking to encourage more business customers to export to the region.
Surendra Rosha, co-chief executive of HSBC in the Asia-Pacific, said the mega bank intends to connect Australian agricultural and resource exporters to ASEAN countries on the back of free trade agreements. HSBC is also scouting the local scene for lending opportunities in renewable energy.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
