Household HSBC Watch

It looks like HSBC may have found a niche that works better than United States subprime loans. Here is how the ploy actually works: Sell one product and up-sell or cross-sell as many other products as you can. HSBC said they would export the “Household International” model to developing nations. (Some analysts debate that the Household model is bad for a country’s economic base.)

HSBC Holdings Plc said demand for its Islamic insurance products in Malaysia would rise “fast” as more young Muslims seek services that comply with religious law. Some 75,000 customers have paid RM150mil in premiums to HSBC Amanah Takaful Malaysia Sdn Bhd, a bank joint venture, since it started operations in August last year.

The venture was also studying opportunities to grow in Singapore and Saudi Arabia. There is also a demand for takaful in Asian countries including China, Indonesia and Brunei.