jueves, 27 de diciembre de 2007

HSBC unit aims for 3-4% mkt share by 2012

The Chilean unit of HSBC (NYSE: HBC) is aiming to win three to four points of market share organically by 2012, local daily La Tercera quoted HSBC Bank Chile CEO Alberto Silva as saying.

In Chile, HSBC is only active in commercial lending and treasury operations, commanding a 0.34% market share in terms of total financial system lending at end-November with 214bn pesos (US$431mn).

"We would like to be among the five largest banks in Chile in the long term," Silva said, but added the local market's expensive prices make it unviable to grow through acquisitions for the moment.

Last month, HSBC Bank Chile said it would launch its Global Premier banking services in 3Q08 with the goal of reaching 10,000 high-end customers within 16 months.

The move is HSBC's first step towards entering the Chilean retail banking segment, Silva said back then.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: December 27, 2007