HSBC, headquartered in London, ventures into Southeast Asia’s burgeoning digital economy, poised to reach $600 billion by the decade’s end, up from $218 billion last year.
With a digitally native working population and a rising appetite for e-commerce, the region presents significant growth opportunities.
Amanda Murphy, HSBC’s South and Southeast Asia head of commercial banking, underscores this potential at the launch of the ASEAN Growth Fund, emphasizing the region’s readiness to consume more goods and services online.
Empowering Digital Expansion
HSBC announces the establishment of a $1 billion ASEAN Growth Fund, aiming to provide lending support to companies scaling up through digital platforms across Southeast Asia.
In addition to the lending fund, HSBC introduced a $150 million venture debt fund dedicated to the Singapore market.
This venture debt fund targets companies in the city-state backed by venture capital or private equity firms, further bolstering HSBC’s commitment to fueling digital innovation and expansion in the region.
