The central financial target focuses on total shareholder return, which comprises share price and dividend flows. No other Hong Kong bank has HSBC’s spread of services and products covering personal, corporate, SME, treasury capital markets and investment banking.
In Hong Kong, HSBC has retained its position as the largest retail bank in almost every line of business. It dominates the treasury and risk management product space for Asian corporates and financial institutions. It is also the leading trade finance provider, and has the largest customer base in payments and cash management services. HSBC beats all its rivals in custody and clearing services in the territory and it is a market leader in providing IPO-receiving bank services. The group is the largest alternative funds administrator and holds the top position in the pension fund management industry.
HSBC continues to be the leading card issuer in Hong Kong, with market share growth to 18.3% last year. And it retains its lead in terms of number of accounts, approved loan size and outstanding balance, as well as deposits, in which it has cornered 20% of the market. In internet banking, it achieved significant online business growth with enhanced usability and sales capability on its website. The internet channel accounted for a record 24% of sales and 33% of transactions and inquiries in 2006, compared with 19% and 30%, respectively, in the previous year.
“This award recognises HSBC’s leading position in Hong Kong, where no other bank matches our spread of services and products,” says chief executive Sandy Flockhart. “Hong Kong is now entering a phase of further integration with the Pearl River Delta region, which has more than 48 million people, representing the wealthiest and some of the most sophisticated consumers in mainland China’s emerging economy. HSBC, with its dominant position in the Special Administrative Region, is well-poised to capture opportunities from the expected growth of renminbi and cross-border financial services in this exciting region.”
