HSBC China news

HSBC China has been named China's Best Foreign Retail Bank in the annual Asian Banker Excellence in Retail Financial Services Awards Programme. The awards programme is among the most prestigious of its kind in the Asia-Pacific region.

The Asian Banker said that in face of market difficulties in 2008, HSBC China’s client and deposit-taking growth prospects were superior when compared with other foreign banks in China. With the largest outlet and ATM network among all foreign banks in China, HSBC China was able to leverage its debit card breakthrough last year. The bank stayed well capitalised despite heavy investment demands brought by the opening of new retail outlets and controlled costs through improved operational efficiency.

HSBC China Head of Personal Financial Services Catherine Fok said: "2008 with the financial crisis and global market fluctuations was a challenging year for all financial institutions. The award is especially precious for us as it recognises our unremitting efforts. We shall continue to provide international banking services to customers in China in 2009."

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