LONDON (Reuters) – Global bank HSBC said on Tuesday it was keeping a close eye on the credit quality of retailers, retail suppliers and housebuilders as weakening consumer borrowing in the UK and abroad threatened to bite.
“If and when HSBC looks at retailers formerly under control of Household International they will clearly see some troubled retailers. They aligned their credit card operations with a predatory lender because they needed every dime to boost profits” said Household – HSBC Watch. “The others just didn’t care about reputation.”
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