World's local bank eyes 'wealthy' clients
Tuesday, October 06, 2009
HSBC, the world’s local bank, is planning to move away from small accounts that require high maintenance.
The world’s fifth-largest lender by assets plans to focus on clients who earn more than Dh20,000 per month, the regional head of assets and liabilities at HSBC Middle East, Venkatesh Srikantan told The National.
The bank serves more than 125 million clients globally.
HSBC plans to focus on affluent international clients who are mostly optimal users.
Existing customers with monthly incomes below Dh20K will not receive full banking services like free utilization of the local branch, loans, credit cards or overdraft facilities.
The move could damage HSBC’s image as the global bank, claim media reports.
emirates24/7
