Maarten van den Bergh, chairman of Lloyds TSB, says Hong Kong is a great place to do business and the group’s core base in Asia

Lloyds TSB, one of Britain's best-known financial services groups, has reaffirmed its faith in Hong Kong as a springboard to business in the Chinese mainland and as the banking and financial services hub of Asia.

"We consider Asia a highly attractive market for our group and a great place to do business - especially here in Hong Kong," said Maarten van den Bergh, chairman of Lloyds TSB Group plc, inaugurating an Offshore Representative Office for the group's Overseas Club in the SAR recently.

The Overseas Club was launched worldwide in 1988 and is a vehicle for Lloyds TSB to offer additional offshore banking services to its customers.

"I believe that Hong Kong has an excellent future. Its location, its reputation particularly in the area of financial and trans-shipping services, and its wealth of qualified, well educated and skilful people form a wonderful combination, which over time should provide a resumption of healthy economic growth.

"Hong Kong is par excellence the entry port to China, which makes the city very attractive to us. China is a country which nobody who is in banking can disregard."

Strong fundamentals

Lloyds TSB has been doing business in Hong Kong for over 40 years. Mr van den Bergh says the fundamentals in Asia remain strong, and foresees positive growth for offshore banking services in the region.

"I have faith and confidence in the resiliency, drive and energy of Asian people. We are already seeing the shoots of a recovery here in Hong Kong and elsewhere in the region."  

Andrew Wenham, manager of the Representative Office, said Hong Kong was Lloyd's core base in Asia, accounting for its largest number of customers.
"Hong Kong is the hub of Asia and we look forward to servicing the whole of the region from here," he said.

Stephen Richards Evans, regional chief executive for Asia, said Lloyds TSB has been providing sophisticated private banking services throughout the region for many years. "The opening of the Offshore Representative Office will allow customers to have an even greater choice of our best services." 

He added that the Overseas Club hoped to target expatriates in China - not only Europeans but also overseas Chinese from Hong Kong, Singapore and Malaysia who had moved to the mainland to work.

"We are now providing them with an even better service right on their doorstep."

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