Wednesday, May 11, 2011

Will HSBC’s focus on emerging markets mean less for UK mortgages?

HSBC plans up to £2bn in savings as it cuts retail arm

The bank said it would be directing investment into fast-growing national economies including Mexico and Turkey, and to certain wider regions, such as Asia and the Middle East.

Posted by hpwatcher @ 03:57 PM (1503 views)
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2 thoughts on “Will HSBC’s focus on emerging markets mean less for UK mortgages?

  • Ooops – with the other cuts announced this week (eg: Comet), things could start getting nasty for this nation which is living beyond its means. Looks like a few more boarded up shops on the High St….and even more 20 somethings hanging around the shopping precinct all day.

    Many folk (like my mum) are asset rich but cash poor. The house she bought many years back has appreciated incredibly (even before the Olympic stadium half a mile from her house). She is living on a small rail pension and state pension – soon to be drained by homecare and nursing.

    The house looks great on paper, but its in an area where you don’t answer the door after 6.30pm. Looks like it might not get better soon.

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  • Just goes to show another mega bank focusing on investment for the few rather than serving the public and making banking have a real social purpose. Nothing to see here, just move along there.

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