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Executive Column: We are back for acquisitions, says HSBC
Taking a long-term view on banking prospects in the region, HSBC Asia Pacific co-CEO Surendra Rosha sees ample opportunity for growth in Indonesia.
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Surendra Rosha, co-CEO of HSBC Asia-Pacific, is pictured after an interview in Jakarta on May 24. (HSBC/Adrian)
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anks in the Asia Pacific region face multiple challenges stemming from the geopolitical situation around Ukraine and the impending Federal Reserve (Fed) interest-rate hike. On the bright side, the pandemic has accelerated technological development in the financial sector, leading to rapid growth of digital banks and fintech firms.
Surendra Rosha, co-CEO of HSBC Asia Pacific, spoke with The Jakarta Post’s Vincent Fabian Thomas and Mark Lempp on May 24 to discuss the bank’s plans in the region.
Question: Do current geopolitical issues and concern over Fed rate hikes affect HSBC’s operation in the Asia Pacific region?
Answer: From our perspective, this is no different from any other part of the economic sector. Whether interest rates are going down or going up, we have to consistently be led by what our customers are doing, how they're impacted, and ensure that we are calibrating our approach, our services and product capabilities to match that.
So, I'm reasonably comfortable. Yes, the Fed is raising rates. Many central banks in Asia do this, but I've been a banker for 31 years. We've seen these cycles before. We have to start with the customer, and that’s my approach.
