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.
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.
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.
Quickly share this news with your network—keep everyone informed with just a single click!
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Get the best experience—faster access, exclusive features, and a seamless way to stay updated.