HSBC Bank Malaysia Bhd (HSBC) will open more commercial banking centres throughout the country as part of a move to enhance its small- and medium-sized enterprise (SME) business and boost profitability.
Commercial banking general manager Richard Lee Say Tshin said the SMEs had always been HSBC's core business and one of the main focuses of the group in the region and globally.
“Last year, some 84% of HSBC's profits in Malaysia came from its corporate business and the bulk was from the SME business.
“Going forward, we expect this segment to continue to be an important business and one of the main contributors to the bank's revenue. The SME industry currently is the cornerstone and backbone of Malaysia's economy and there is huge potential to be tapped in this area.
