HSBC 2002 Annual Report Download - page 15

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As at 31 December 2002, HSBC had total
commercial customer deposits of US$92.9 billion
and total commercial customer loans and advances,
net of suspended interest and provisions for bad and
doubtful debts, of US$90.6 billion.
HSBC continues to broaden and enhance its
range of products and services, placing a particular
emphasis on multi-disciplinary and cross-geographic
collaboration in meeting its commercial customers’
needs:
Personal Financial Services. In addition to a range
of current and savings accounts, corporate and
purchasing cards, treasury services and lending
products, HSBC also provides a wide range of
insurance and investment products to commercial
banking customers and their employees through an
extensive, worldwide network of branches and
business banking centres throughout the Asia-Pacific
region, Europe, the Americas and the Middle East.
Insurance. HSBC provides business customers with
a range of insurance protection, employee benefits
and pension schemes to meet the needs of both the
business itself and its employees and to fulfil the
statutory obligations of the company. These products
are provided by HSBC either as manufacturer or as
supplier of third party products. HSBC also acts
either as intermediary (broker, agent or consultant) or
direct supplier. The range of products and services
includes: property damage; business interruption/loss
of profits; public and products liability; employer’ s
liability; professional liability/directors’ and officers’
liability; group life, pension schemes, healthcare
schemes; ‘key man’ life insurance; car fleet; goods in
transit; trade credit protection; risk management and
insurance due diligence reviews; and
actuarial/employee benefit consultancy.
Trade services. HSBC has more than 130 years of
trade services experience and expertise in this core
business. A complete range of traditional
documentary credit, collections and financing
products is offered, as well as specialised services
such as insured export finance, factoring and
forfaiting. HSBC seeks to bring value to its customer
partnerships with solutions that are tailored to meet
their requirements, supported by HSBC’s highly
automated systems.
Leasing, finance and factoring. HSBC provides
leasing, finance (including instalment and invoice
finance) and factoring services, primarily to
commercial customers in the UK, Hong Kong, the
US and France. HSBC has established special
divisions to finance commercial vehicles, plant and
equipment, materials handling, machinery and large,
complex leases. It also provides services for
consumer finance and small businesses.
Payments and cash management. HSBC is a leading
provider of payments, collections, liquidity
management and account services worldwide,
enabling financial institutions and corporate
customers to manage their cash efficiently on a
global basis. HSBC’s extensive network of offices
and strong domestic capabilities in many countries,
including direct access to local clearing systems,
enhance its ability to provide high-quality cash
management services.
e-banking. A key component of HSBC’s market
leadership in providing financial services to
commercial customers is continuing innovation and
flexibility in electronic delivery solutions, to best suit
the clients’ needs.
Corporate, Investment Banking and Markets
HSBC’s Corporate, Investment Banking and Markets
business provides tailored financial solutions to
major government, corporate and institutional clients
worldwide. Managed as a global business, it
operates a long-term relationship management
approach to build a full understanding of client
financial requirements. Clients are served by sector-
based client service teams that combine relationship
managers and product specialists to develop financial
solutions to meet individual client needs. With
dedicated offices in over 40 countries and with
access to HSBC’s worldwide presence and
capabilities, this business serves subsidiaries and
offices of these clients in 80 countries and territories.
Products and services offered include:
Banking Services. These comprise general banking
products including lending and deposit taking and
related services; payments and cash management
services at an international and regional level as well
as ‘in country’ domestic services; trade services with
an emphasis on the specialised ‘Trade Solutions’
product; and securities services, where HSBC is one
of the world’s leading custodians providing custody
and clearing services to both domestic and cross-
border investors. Leasing, with an emphasis on ‘large
ticket’ transactions, finance and factoring and
banknotes services are also provided by specialist
units.