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HSBC Mexico 4th-Quarter Results Improving, CEO Says

HSBC Holdings Plc’s Mexico unit expects fourth-quarter results to be better than the bank’s performance in previous quarters, Chief Executive Officer Luis Pena Kegel said.

Grupo Financiero HSBC SA, as the Mexican unit is known, sees personal loans and credit cards as engines of growth during this year, while the bank has “great faith” in mortgage lending, Pena Kegel said.

The lender is committed to be the third-largest corporate debt seller in Mexico, Pena Kegel told reporters today at an event in Mexico City. Mexico’s economy will expand 4 percent this year, Pena Kegel added.

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