HSBC cuts back on SME lending in UAE

Posted by: M Joseph Monday, 16 September 2013 8:03 PM[UAE] - UAE

UAE Central Bank should ban this irresponsible, unethical and most indecent bank from operating in UAE and shut all their business operations in UAE.

This bank is out to tarnish the healthy business outlook of UAE and therefore their banking license should be revoked.

I would request business owners small or big to teach this unethical bank and its CEO a hard lesson by moving your funds and investments out swiftly,

Posted by: Abu Hamad Monday, 8 July 2013 8:51 AM[UAE] - UAE

I don't know how the central bank allow them to do this all.....They ask me to pay all the due for my visa card or I have to pay them in 21 installment, if you have visa with 80000, how you can pay this??I took a loan from other bank to pay them.

Posted by: KUNAL PAREKH Monday, 8 July 2013 8:51 AM[UAE] - UAE

Talking about HSBC?? wE HAVE BEEN GIVEN FACILITY LETTER AS LARGE CORPORATE i BELEIVE AND TILL DATE WE HAVE NOT BEEN ABLE TO USE SAME AS THEY NEED SOME DOCUMENTATION WHICH THEY DID NOT THINK OF AT TIME OF SIGNING FACILITY LETTER. THEIR MOTTO WAS TO GET BIG HEFTY FACILITY FEE. PATHETIC FEE. TILL TODY WE ARE CHASING THEM TO REFUND AND CLOSE OUR ACCOUNT. GOOOD LUCK TO COMPANIES WHO STILL WANT TO DEAL WITH UNPROFESSIONAL BANKERS

Posted by: leo50 Sunday, 7 July 2013 3:36 PM[UAE] - uae

at best, another P.R. disaster for HSBC..

Posted by: Valerie Houghton Monday, 8 July 2013 8:50 AM[UAE] - Israel

How HSBC boss Stuart Gulliver earned his giant bonus

The Guardian, Monday 27 February 2012 13.33 GMT
HSBC's performance was judged as 'satisfactory in aggregate' ? so chief executive Stuart Gulliver received �7.2m rather than the �12.5m maximum he could have earned. Wow, I am very empathetic to his loss...the pain he must be feeling...

You think he will remain a banking customer at HSBC?

Posted by: Murad Ali Sunday, 7 July 2013 2:48 PM[UAE] - UAE

We are a HSBC customer and our account were closed on June 16th without notice our funds were blocked for over 12 days , banking with HSBC for over 15 years without any returned chq. over 1.2 million in account we have been put through the most difficult period of our life in UAE .
I request other HSBC account holders be ware and the Central bank of UAE to slap HSBC with fines for their behavior.

HSBC Bad Bank .

Posted by: Zoher Tuesday, 9 July 2013 11:19 AM[UAE] - UAE

Same here, 38 year old A/c closed on June 16th, balance funds slightly under 400K released after 2 weeks! + 3 days to verify signature to release the Manager's cheque, difficult to accept they want to dedicate RM to every account as claimed in their letter, since with their powerful internet banking platform most of the affected SME's I believe were self managing their account online without cost of expensive RM or other branch staff, I know couple of borrowing customers affected under this program are under heavy stress to settle their debts, anyway thank god we are not borrowing customer and it was easy to exit, besides other banks welcomed our business.

Posted by: vijay Tuesday, 9 July 2013 8:44 AM[UAE] - uae

imr murad you are not alone to suffer mashreq bank has recently done the same with most sme s .This is possible only because the central bank seems to have no control over the banks operating here.my account was closed in my absence when i had gone for medical treatment to india without informing me by email post aur verbally and the my clients were told that the account was closed when they tried to deposit funds in my acct and luckily i did not have any pending postdated chks but after banking with the bank since 1979 when it was a very small bank i have come to realise that even a small shop which serves tea for dhm 1 has better business ehtics than these so called rogue banks.