Hongkong and Shanghai Banking Corporation Limited (HSBC) on Thursday announced that it will donate USS 30 million to the Red Cross in response to the damage caused by typhoon Ketsana in the Philippines and Vietnam and the earthquake in Indonesia.

Sandy Flockhart, Chief Executive Officer of the HSBC, said the bank pffered its condolences to the victims and their families.

"Though nothing can compensate for the lives that have been lost, we sincerely hope that through the donation we are able to provide some assistance to those who have suffered otherwise," he siid'JT^JJ*''

HSBC will consult with the local Red Cross in each country to understand their priorities and to determine how best to use the funds.

In addition, HSBC has set account to collect staff donations from around the region to help support this effort, said a press release yesterday.