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  5. Capturing the Latin American Segments: A Case Study of HSBC

Capturing the Latin American Segments: A Case Study of HSBC

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3 September 2008
Isabella Fonseca

Abstract

New York, NY, USA September 3, 2008

The Latin American financial sector has undergone a transformation in the last few years. The current low level of financial services penetration in the region provides a solid platform for future growth.

A new report Capturing the Latin American Segment, examines how HSBC, a global bank, entered the emerging market of Latin America. HSBC has organized its products and services to grab as much market share as possible, focusing on all customer levels-from the mass market / mass affluent to the ultra-high net worth.

The bank's regional strategy for growth consisted of the following steps:

  • Successful integration of Grupo Banistmo into HSBC's operations
  • Leveraging growth between business lines
  • Introducing new business lines to service all customer segments
  • Implementing top-of-the-line client service levels to establish competitive advantage

"While it may be a bumpy road toward stability, the Latin American region will continue to offer expansion opportunities for global banks," says Isabella Fonseca, Celent senior analyst and author of the report. "Banks that are under pressure to better deploy capital have recognized Latin America's potential. While it is too early to measure the outcomes of their strategies, this case study represents a success story for other banks interested in establishing a presence in the region," she adds.

For purposes of identifying key aspects of a Central American global bank strategy, this report takes a closer look at a single Central American country: Costa Rica. This small but very prosperous nation of 4.4 million people has been a key target for HSBC in the past year. The report focuses on changes within the bank's regional organization as well as the business and technology strategies employed to compete with established local and foreign banks in the region.

The report is 26 pages long and contains seven figures and eight tables. A table of contents is available online.

Members of Celent's Wealth Management and Retail Banking research services can download the report electronically by clicking on the icon to the left. Non-members should contact info@celent.com for more information.
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