Household HSBC Watch

First Brazil, now Peru and Columbia for HSBC. UK banking giant HSBC is targeting Colombia as the next step in its acquisition-driven expansion campaign in Latin America, HSBC South America CEO Youssef Nasr said. “Of the countries in South America, Colombia would be the next logical one. We are actually in the process of finalizing an application for a representative office in Colombia that we expect to open in the second quarter,” Nasr said.

“At the beginning it would be more of a wholesale banking and capital markets orientation. That would give as a closer presence in Colombia and we would be assessing the market to see if there is something more significant we can do there,” he added. The move continues HSBC’s global expansion of predatory lending through their “Household Model“, named for U.S. predatory lender Household International.