HSBC reports growth in Scotland

HSBC logo HSBC has opened new branches in Falkirk, Dundee, Aberdeen and Dumfries

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HSBC has said it is growing business in Scotland, as it opens branches and attracts export businesses.

In results covering the first half of the year, the bank said its business lending north of the Border has risen 25% on the same period last year, as it poaches customers from rivals.

It also said mortgage lending is up in line with UK growth, by 21%.

It declined to give details on the actual growth behind the percentages.

The bank has not had a strong profile in the Scottish market, but is pushing into it now, with four new branches opened during the first half year, in Falkirk, Dundee, Aberdeen and Dumfries.

The emphasis is on attracting the 'mass affluent' market, with 16% growth in its Premier accounts.

With more than £1bn in lending to Scottish businesses, lending to corporate customers and smaller businesses is being pitched to those companies that want a bank with a presence throughout the world.

The HSBC report 70% of new HSBC business customers already have an international element to their business.

Doug Baikie, who recently became interim chief executive for HSBC in Scotland, commented: "Our international capabilities remain key to customer attraction.

"We're seeing an increasing number of innovative Scottish businesses developing their operations and offering to seize opportunities for growth in international markets".

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