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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 also dropped.

“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,” Wijeyekoon said.

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.

 

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