The century old local operation of HSBC, has stepped up its distribution channels to tap medium size firms and consumer banking operations.
As competition heats up and margins shrink, the bank has lined up a range of products and services lquote to share the wallet size of its core customers.rn
rnA state of the art customer support system is to be installed later this year, while the bank is scouting locations within city limits to offer service points, which offers a whole range of banking services.rn
rnldblquote The key thing to stay ahead of the competition is to pack more products and services, trade services, Internet banking and so on to attract new business,
dblquote CEO Mark Humble said. rn
rnHSBCs operating profits for 2002 was up 26.9 percent to Rs. 1.963 bn, helped by an increase in net interest income, lower operating expenses and improved credit quality.rn
rnThe banks income grew 6.2 percent to Rs. 3.332 bn from Rs. 3.137 bn in the same period 2001.rn
rnNon-interest income contr