(8 March 2006 – UK) HSBC revealed the power of customer advocacy while providing an interesting glimpse into one of their business banking markets at the time of their annual profit announcement earlier this week.The bank, which posted a near ₤12 million profit for 2005, said their business in Wales had been “terrific” in 2005 – apt as HSBC’s new chief executive is Welshman Dyfrig John.
HSBC regional director for Wales Huw Morgan said the bank’s decision to create commercial banking centres across Wales in 2004 had paid dividends in 2005.
“Based in the community to relationship manage business customers, HSBC loaned 26 percent more money to help customers grow their business last year,” Morgan said.
He said some 1200 businesses – around 25 a week – had switched their banking to HSBC as a direct result of recommendations from professionals and existing customers.
“The team enters 2006 keen to grow and continue to provide local, professional, timely help and advice,” Morgan said.
He said the bank’s leveraged finance team in Wales had an excellent year, with deal sizes ranging from ₤3 to 150 million.
“We certainly expect the trend of healthy deal flows to continue during 2006,” Morgan said.