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HSBC starts banking unit in Sri Lanka’s China-run Hambantota port

ECONOMYNEXT – HSBC Sri Lanka had started an express banking unit in Hambantota in a port operated by China’s CM Ports group, which will have an industrial zone.

Hambantota International Port is a multipurpose port which provides services including container handling, general cargo, Ro-Ro, passenger, bunkering, bulk terminal, gas and project cargo.

“Both HSBC and China Merchants Group are two of the oldest organisations that began operations in Hong Kong and became global names in banking and port development respectively,” Ray Ren, CEO of HIPG said in a statement.

“Over the years we have built a long-term relationship with the HSBC Group and in Sri Lanka, we began our cooperation with the bank when China Merchant Group launched its very first project at the Colombo Port.

“I am confident companies in Hambantota Port will enjoy world-class financial services with the opening of the HSBC Express Banking Center and undoubtedly, HSBC’s customer network will help attract more investments and business to the port.”

He said HSBC and CM Ports had been working together with the first project that started in Colombo.

“With Hambantota International Port Group’s efforts in developing this economic zone, we believe Hambantota will be an area with significant investment and development over the coming years and HSBC is keen to be where the growth is,” HSBC Sri Lanka and Maldives CEO – Mark Prothero said.

“Having operated in Sri Lanka for 128 years, our presence in Hambantota is a reinforcement of our service commitment to Sri Lanka.”

This will advance bilateral financial cooperation and promote the development of the Port,”

Yang Zuoyuan Economic and Commercial Counsellor, Chinese Embassy in Sri Lanka said setting up an HSBC unit will promote the development of the port and bilateral financial co-operation.

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The HSBC Express Banking Center, locate at the HIPG’s Maritime Center in Mirijjawila, will provide international banking services as well as day-to-day retail banking services including self-service facilities. (Colombo/Aug24/2020)