The Hongkong and Shanghai Banking Corporation (HSBC), the second largest overseas lender in India by assets, is launching seven business banking centres in as many cities exclusively to tap small and medium enterprises (SME) in the country.

“Last week we opened two branches in Hyderabad and Mumbai with a headcount of 50 and 200, respectively,” Dheeraj Dikshit, head (SME business) of HSBC India, said. The bank launched its third SME branch in Pune with over 60 staff.

Dikshit said the London headquartered bank will launch four more branches in Kolkata, Delhi, Bangalore and Chennai by the end of October 2010. “We have also planned a few more, including Ahmedabad to cover the entire country next year to tap the SMEs,” he added.

“These branches will serve as a signal window for the business requirement of the SMEs in the country with an annual turnover of Rs 10 lakh and upto Rs 50 crore,” Dikshit said. Besides providing trade, treasury and cash management services for the SMEs, the banking centres will be equipped with international business rooms with audio and video conference facilities.

“SMEs are growing and getting sophisticated and contributing 40 per cent of the exports in the country and many of them setting business shops overseas,” Dikshit said.

michaelgonsalves

@mydigitalfc.com