HSBC sees improvement in loan payments
J.K. Marketing CEO Charitha Subasinghe, HSBC CEO Sri Lanka and
Maldives Nick Nicolau, HSBC, Personal Financial Services Head
Sarit Wijeyekoon and HSBC Marketing, Group Communications and
Corporate Sustainability Head Nilantha Bastian at the launch.
Picture by Saliya Rupasinghe.
There is a significant improvement in loan payments with the drop in
interest rates Hongkong and Shanghai Banking Corporation (HSBC) Personal
Financial Services Head, Sarit Wijeyekoon told Daily News Business.
“There was a drop in loan repayments during last year especially due
to the global economic downturn.
“With the establishment of peace and country having a positive
economic atmosphere loan repayment shows a better progress,” he said.
Wijeyekoon said there was a slight reduction in the retail loan market
compared to the market two to three years ago and the loan approval rate
“However, there is an indication of a gradual enhancement in the
market,” he said.
“There is demand for total packages in the retail banking, where now
customers look for more benefits and worldwide recognition rather than
one product or a service. Customers are keen on innovative and
convenient products, as lifestyles have changed into busy schedules,”
HSBC launched HSBC Advance a global personal banking proposition
targeting the mid market customer segment in the country.
Sri Lanka was one of the initial countries to launch the product.
The product is offering an all-in-one integrated proposition covering
current and savings accounts, deposits, investments, insurance and
credit card. He said HSBC Advance will offer their customers with much
financial freedom, where they have the benefit of a clear view and
guided control of their financial journey.
“It will also help the customers build a secure financial platform
and assist gain confidence,” he said.