HSBC announces measures to support British firms trading overseas

LONDON (Reuters) – HSBC (L:) on Friday announced new measures to support British firms trading internationally, 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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Category Latest Posts

You May Also Read