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HSBC to expand services in EPZs

Star Business Report
The Hong Kong and Shanghai Banking Corporation (HSBC) in Bangladesh plans expansion of its commercial and trade services in export processing zones (EPZs), officials said • yesterday.
■We'll set up three customer services centres in Mongla, Comilla. and Adamjee EPZs over the next two months to facilitate quick services to customers," Mahbub-ur-Rahman. head of corporate banking of HSBC Bangladesh, said.
Already two customer services centres have been estab-lished in Dhaka and Chinagong EPZs, he said, adding that the management of HSBC has decided to set up more such centres in other EPZs.
This was announced at a function in Dhaka where visiting Senior Executive (strategy, propositions and channels) of HSBC Asia-Pacific Subir Mehra was also present.
According to the HSBC officials, last year the bank handled 9.5 and 7 percent of the country's total expons and imports.
Most of the loans were made for exporting readymade gar-t ments, food processing, pharmaceuticals, and import of commodities, they said.
HSBC also offers advices on different aspects of trade docu-
mentation to assist businesses to procure their raw materials.
Subir Mehra said millions of small and medium enterprises (SMEs) were the main driving forces of China and India's economic development, adding that the scenario is the same in Bangladesh.
"Interestingly, majority of the SMEs seem reluctant to borrow to run or expand their businesses," he said, adding that majority of these enterprises are interested in quality services, rather than an opportunity for bank borrowing.
"It is possible to offer low-cost services to the SMEs," the HSBC’s Asia-Pacific official
said.
HSBC looks to invest more on SMEs in Asia. HSBC is also focusing on investing more on term loans, Rahman said, adding that as of January this year the bank's loans in this area stood at 15 percent out of the total outstanding loans.
When asked whether lending at 15 to 16 percent reduces competitiveness of the local entrepreneurs, Subir Mehra said it is linked with the government's borrowing rate.
"When inflation hovers around 12 percent, the lending rate of 15 percent is not higher," he added.