HSBC unit seeks US$40mn in IIC funding

- Friday, October 21, 2011

HSBC unit seeks US$40mn in IIC funding

HSBC Bank Panamá, the local unit of UK banking giant HSBC (NYSE: HBC), is seeking US$40mn in IIC funding for its SME loan program, according to information published on the multilateral's website.

The bank is looking to support SMEs through financial leasing and factoring operations, working capital loans and loans for purchasing fixed assets.

The IIC board is slated to decide on the request on November 22.

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HSBC Bank Panamá became the largest bank in the country after its purchase of the Banistmo group in 2006. The bank focuses on personal, commercial, private, and global banking and markets, offering a range of financial and banking services to individuals and corporations.