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HSBC announces measures to support British firms trading overseas
HSBC on Friday announced new measures to support British firms trading internationally, even as they cope with plummeting demand amid the coronavirus outbreak.
Europe’s biggest bank said it made 3 billion pounds in credit available to import/export firms, as well as offering pre-approved 60-day extensions on trade loans for customers with a sound record.
“Our international customers are telling us that they are concerned about short term working capital, ability to forecast their cash position in the short term and access to finance,” said Ian Tandy, head of trade for HSBC UK.
The new measures should help with that, he said.