HSBS to invest $ 20 mln in Pakistan
KARACHI, FEB 24 (APP) - Hong Kong Shanghai Bank Corporation (HSBC) is planning to invest $ 20 to 25 million in next two years in Pakistan to enhance its presence in this fast growing market.
This was stated by the deputy chairman and CEO of HSBC Middle East, Niall S K Booker during a meeting with the chief executive, Trade Development Authority of Pakistan (TDAP).
According to TDAP here Saturday, he discussed the plans of the Bank for strengthening its market share and presence in Pakistan over the next 18-24 months.
He said that HSBC had already opened a branch in Clifton as part of their expansion program in Pakistan.
Booker said that HSBC was renowned the world over for its innovative and trade friendly financial products it provides in the export driven economies.
He suggested that Pakistan should have a comprehensive program of managing perceptions about the country’s image which will have a direct bearing on its trade promotion success.
http://www.app.com.pk/en/index.php?option=...77&Itemid=2
Full Version: Hsbs To Invest $ 20 Mln In Pakistan
In the banking world $25 million s peanuts.
Isn't HSBC the second or third largest bank in the world?? 25 million is nothing.
QUOTE(ZPak @ Feb 24 2007, 11:37 AM) [snapback]868183[/snapback]
Isn't HSBC the second or third largest bank in the world?? 25 million is nothing.
something like that. $25 million dollars is ##### all. most of the investment in Pakistani banking so far has been in the hundreds of millions, mainly by the Arabs.
25 mil is peanuts, but lets hope it goes to excellent use, and more is invested!!
this is probably just HSBC dipping their toes in the water
this is probably just HSBC dipping their toes in the water
do you not want HSBC to come to pakistan at all 
25m is a very big amount to start up, hsbc only have about 2 branches in pakistan and you surly cant expect them to invest 500m and be at the top in one night, thats not how business works my friends, this is a good start for hsbc and they will use business sense and grow it.
25m is a very big amount to start up, hsbc only have about 2 branches in pakistan and you surly cant expect them to invest 500m and be at the top in one night, thats not how business works my friends, this is a good start for hsbc and they will use business sense and grow it.
$20mln is a good amount to start with, something is better than nothing
if hsbc can utilize this amount then they'll definitely increase it
if hsbc can utilize this amount then they'll definitely increase it
QUOTE(Hellraiser006 @ Feb 24 2007, 12:44 PM) [snapback]868187[/snapback]
something like that. $25 million dollars is ##### all. most of the investment in Pakistani banking so far has been in the hundreds of millions, mainly by the Arabs.
I was talking to a friend here from HSBC and he told me that this money is actually not for expension but to meet with certain regualtions of State Bank of Pakistan, actually HSBC is looking for some acquisition.
He also do not knew which bank HSBC is trageting, but it would be a something worth.
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