HSBC: KEB Deal Highlights Strategy For Growth
| 汇丰控股有限公司(HSBC Holdings PLC, 简称：汇丰控股)亚太区行政总裁霍嘉治(Sandy Flockhart)称，公司以63亿美元收购韩国外换银行(Korea Exchange Bank)控股权的交易突出表明，在无法实现内部有机增长的地区，这家英国银行愿意通过收购来实现扩张。 同时担任香港上海汇丰银行(Hongkong & Shanghai Banking Corp.，简称：汇丰银行)行政总裁的霍嘉治说，在内部有机增长受限的市场，或者是在高度集中、银行业竞争激烈的市场上，收购对于公司的扩张非常重要。汇丰银行是汇丰控股的全资子公司。 周二，美国私人资本运营公司Lone Star Funds称，目前的诉讼程序不会阻止其向汇丰控股出售外换银行51%股份的交易。霍嘉治称，“我们不应对此事发表评论。” 两名与外换银行2003年向Lone Star Funds出售股份有关的人员目前正在韩国受审，他们被指控低估了外换银行的实力，帮助Lone Star Funds完成了收购。目前还不清楚审判会持续多久。另外，Lone Star Funds也因涉嫌参与外换银行在收购另一信用卡机构的过程中操纵股价而正在韩国接受审判。Lone Star Funds否认了所有的涉嫌过失。 霍嘉治在谈到汇丰控股最近收购越南一家保险公司10%股份一事时说，此举着眼于亚洲愈发成熟的市场和那里不断增长的财富。他说，像中国和印度一样，越南的保险市场未来也将有巨大增长。 汇丰控股上周称，将斥资2.54亿美元收购越南第一大保险公司Vietnam Insurance Corp.10%的股份。如获监管部门批准，汇丰控股在该公司的持股比例最终将可提高到25%。汇丰控股还是一家越南银行的股东。 霍嘉治称汇丰控股在华业务持续扩张，目前在中国拥有45家分支机构，是在华经营的外资银行中最多的。这些分支机构包括15个业务种类齐全的分行和30个支行，汇丰控股目前正申请在3个中国城市新设分支机构。 汇丰控股在中国的交通银行(Bank of Communications Co.)拥有战略性股份，虽然这并未对其在华业务的扩张带来直接帮助，但霍嘉治称，汇丰控股已经向交通银行传授了一些先进做法，这推动了后者的业务增长和股价上涨，从而实现了汇丰控股和交通银行的双赢。 汇丰控股于2004年斥资17.5亿美元收购了交通银行19.9%的股份。自交通银行于2005年在香港上市以来，其股价已经上涨了250%以上。 Peter Stein |
| HSBC Holdings PLC's (HBC) chief executive for Asia said HSBC's $6.3 billion deal for control of Korea Exchange Bank (004940.SE)underscore's the British bank's willingness to make acquisitions where organic growth doesn't work. Sandy Flockhart, chief executive of HSBC's main Asian unit, Hongkong & Shanghai Banking Corp., said 'acquisitions are key to growth in certain markets where organic growth is constrained, or where you have highly integrated, competitive banks.' On Tuesday, U.S. private-equity firm Lone Star Funds said it doesn't expect legal proceedings to prevent the sale of its 51% stake in KEB to HSBC. Flockhart said it would be 'wrong for us to comment on the issue.' Two people involved in the 2003 sale of KEB to Lone Star are on trial in South Korea on charges of underestimating the bank's strength, helping Lone Star complete its purchase. It's unclear how long the trials might last. In addition, Lone Star also is on trial in South Korea for alleged stock manipulation related to KEB's buyout of a separately traded credit-card unit. Lone Star has denied any wrongdoing. Flockhart said another recent HSBC acquisition in Asia, its purchase of a 10% stake in a Vietnamese insurer, aimed to take advantage of 'a growing wealth and growing sophistication in these markets.' As in China and India, 'you should see large growth rates going forward' for insurance products. HSBC said last week it was paying $254 million for a 10% stake in Vietnam Insurance Corp., the country's largest general insurer by market share. It has options to raise that stake eventually to 25% if regulators approve. HSBC also owns a stake in a Vietnamese bank. Flockhart said its China business continues to grow. HSBC now has 45 outlets in China, more than any other foreign bank in China. These include 15 full branches and 30 subbranches, and it is currently applying to branches in three more cities. HSBC's strategic stake in Chinese lender Bank of Communications Co. hasn't specifically helped HSBC expand its business in China. But Flockhart noted that 'we've done a bit of transfer of best practices. That's led to better growth of Bocom's business, and better growth in the share price, which is good for both parties.' HSBC bought a 19.9% stake in Bocom for $1.75 billion in 2004. Since the shares listed in Hong Kong the following year, they've risen by more than 250%. |
