HSBC offers to assist Cebu businesses

CEBU, Philippines - International banking institution, Hong Kong Shanghai Banking Corporation Limited (HSBC) offers to assist businesses in Cebu and other parts of Southern Philippines to penetrate the global market starting with the ASEAN region.

HSBC (Philippines) president and chief executive officer Wick Veloso personally reached out to offer its expertise to the Cebu business community.

"We would like to prepare our customers for ASEAN, allowing them  to be exposed, connecting them to possible business partners in the region," said Veloso, who is the first Filipino president and CEO of HSBC in its 140-year presence in the Philippines.

Veloso met with the business prime movers and leaders in Cebu, to present the bank's proposition and its willingness to be a partner of global expansion plans of local companies.

HSBC, the third largest bank in the world, sees the big potential for homegrown companies, specifically the consumer related businesses, like food, retail, furniture and home furnishing, as well as electronics.

Veloso said the bank has deeply understood the need for companies to widen their market reach in the global landscape, and penetrating ASEAN is a good kick-off.

Aside from providing capital assistance to companies for international presence, HSBC is putting in place a system that will aid them in their global growth path, including facilitation with regulations, market intelligence, and access to counterparts among others.

Global positioning, Veloso said has become one of primary ingredients to stay in business and thrive.

With over 500 thousand client-base spread in its 15 branches nationwide, the bank's balance sheet stood within P200 billion level.

Veloso mentioned the bank's serious positioning in the Philippines to further strengthen its market grip, in the light of the country's prominence as one of the darling investment destinations among global capitalists, and Cebu plays a very important role in this  development. — Ehda M. Dagooc (FREEMAN)