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Press release from CNW Group

HSBC provides $1 billion to support Canadian small and medium size businesses seeking international growth

Wednesday, July 17, 2013

HSBC provides $1 billion to support Canadian small and medium size businesses seeking international growth

08:00 EDT Wednesday, July 17, 2013

** Funding available to qualifying new and existing customers with international business requirements**

VANCOUVER, July 17, 2013 /CNW/ - HSBC Bank Canada today announced that it has earmarked $1 billion over the next 18 months to support Canadian small and medium size businesses (SMEs) seeking international growth. This funding is available to qualifying new and current HSBC customers with annual revenue of $3 million to $250 million and interest in cross border trading or global expansion.

Canada enjoys strong, historic trade ties with the United States, yet HSBC research shows that greater global economic growth is taking place in emerging markets and that Canadian companies are starting to look to new trade routes. HSBC's February 2013 Global Connections Trade Forecast report revealed that, while the top three markets for Canadian exports are the USA, the UK, and China, the fastest growing corridors of Canada's export growth by 2030 will be Asia and the Middle East. In addition, exports to the Eurozone and Latin America are projected to grow by at least 10 per cent over the same period.

Linda Seymour, Executive Vice President, Head of Commercial Banking, HSBC Bank Canada said: "Statistics show that Canadian companies who do business internationally tend to grow faster over the longer term than companies focused solely on domestic activity. Throughout its history, HSBC has been connecting customers to opportunities, enabling business to thrive and economies to prosper, and this initiative builds on that tradition."

HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada. With around 6,600 offices in over 80 countries and territories and assets of US$2,681bn at 31 March 2013, the HSBC Group is one of the world's largest banking and financial services organizations.

HSBC Commercial Banking
For nearly 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves businesses ranging from small enterprises to large multinationals in over 60 developed and faster-growing markets around the world. Whether it is working capital, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. With a network covering three quarters of global commerce, we make HSBC the world's leading international trade and business bank.

SOURCE: HSBC Bank Canada

For further information:

Media enquiries:
Fabrice de Dongo
Senior Media Relations Manager
HSBC Bank Canada
(416) 868-8282

Aurora Bonin
Senior Media Relations Manager
HSBC Bank Canada
(604) 641-1905

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