HSBC provides $1 billion to support Canadian small and medium size businesses
seeking international growth
** Funding available to qualifying new and existing customers with
international business requirements**
VANCOUVER, July 17, 2013 /CNW/ - HSBC Bank Canada today announced that it has
earmarked $1 billion over the next 18 months to support Canadian small and
medium size businesses (SMEs) seeking international growth. This funding is
available to qualifying new and current HSBC customers with annual revenue of
$3 million to $250 million and interest in cross border trading or global
Canada enjoys strong, historic trade ties with the United States, yet HSBC
research shows that greater global economic growth is taking place in emerging
markets and that Canadian companies are starting to look to new trade routes.
HSBC's February 2013 Global Connections Trade Forecast report revealed that,
while the top three markets for Canadian exports are the USA, the UK, and
China, the fastest growing corridors of Canada's export growth by 2030 will be
Asia and the Middle East. In addition, exports to the Eurozone and Latin
America are projected to grow by at least 10 per cent over the same period.
Linda Seymour, Executive Vice President, Head of Commercial Banking, HSBC Bank
Canada said: "Statistics show that Canadian companies who do business
internationally tend to grow faster over the longer term than companies
focused solely on domestic activity. Throughout its history, HSBC has been
connecting customers to opportunities, enabling business to thrive and
economies to prosper, and this initiative builds on that tradition."
HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading
international bank in Canada. With around 6,600 offices in over 80 countries
and territories and assets of US$2,681bn at 31 March 2013, the HSBC Group is
one of the world's largest banking and financial services organizations.
HSBC Commercial Banking
For nearly 150 years we have been where the growth is, connecting customers to
opportunities. Today, HSBC Commercial Banking serves businesses ranging from
small enterprises to large multinationals in over 60 developed and
faster-growing markets around the world. Whether it is working capital, trade
finance or payments and cash management solutions, we provide the tools and
expertise that businesses need to thrive. With a network covering three
quarters of global commerce, we make HSBC the world's leading international
trade and business bank.
Media enquiries: Fabrice de Dongo Senior Media Relations Manager HSBC Bank
Canada (416) 868-8282
Aurora Bonin Senior Media Relations Manager HSBC Bank Canada (604) 641-1905
SOURCE: HSBC Bank Canada
To view this news release in HTML formatting, please use the following URL:
CO: HSBC Bank Canada
ST: British Columbia
NI: FIN ECO ECOSURV
-0- Jul/17/2013 12:00 GMT
Press spacebar to pause and continue. Press esc to stop.