Lanka’s banking sector impressive - HSBC CEO
Sri Lankan banking sector is on par with the other countries in the
region Chief Executive Officer (Asia Pacific) Hong Kong and Shanghai
Ranking Corporation, Sunday Flockhart said.
Making his first official visit to the country he said the HSBC is
also proud to play a role in Lanka’s economic development.
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CEO, Sri Lanka and the Maldives Nick Nicolau welcoming Sandy
Flockhart. Deputy Chief Executive Officer and Head of
Corporate Banking, Travine Fernandopulle looks on Picture by
Saliya Rupasinghe. |
He said the Sri Lankan economy is impressive “Our intention in Sri
Lanka is to become the bank of choice in providing international banking
services to both the personal and corporate segments, through our
unrivalled global network and our growing domestic franchise.”
HSBC, which has had a presence in the country for 116 years, is the
largest foreign bank in the country and the leader in the credit card
market in the country with 29 per cent market share, according to the
Central Bank of Sri Lanka.
HSBC has contributed to Sri Lanka’s infrastructural developments by
financing several projects encompassing power, road and port facilities.
In addition, HSBC has been instrumental in arranging funding for several
local financial institutions in the international capital markets.
Flockhart said: “HSBC in Sri Lanka has grown significantly in the
last 10 years. We now have more than 1,800 employees working for the
Banking the country. In addition, our Global Researching Centre in
Rajagiriya employs nearly 2,000 people.
We are proud to offer opportunities for individuals to grow and
develop locally as well as internationally.”
Commenting of the financial performance and operations of HSBC Asia,
Flockhart said: “HSBC Group reported solid results for the first half of
2008, despite difficult economic conditions particularly in the US and
increasing turmoil in international financial markets.”
Flockhart added: “Asia is the most exciting economic region in the
world, where HSBC has strong roots, being the first bank in many of
these countries and territories. “Rising inflation is presenting new
challenges for the region and the global economy, but HSBC, with its
strong global network and international connectivity, is well placed to
meet these challenges”. (SS) |
