HSBC grew profit before tax by 188% in 2023 to SLR38.2 billion ($126 million).
AfE 2024
It digitized its supply chain financing facilities and enabled a complete end-to-end digital account opening for customers. HSBCnet’s penetration reached 96% for cash management and 88% for trade-related transactions in 2023.
HSBC also worked on Sri Lanka’s first sustainability-linked loan and 12 environmental, social and governance (ESG)-related deals during 2023. It carried out awareness sessions for small and medium-sized enterprise clients on key ESG related topics and partnered with IUCN Sri Lanka to restore 125 hectares of degraded land under Project CORE, with the aim reducing 30,000 tonnes of CO₂ emissions by 2030.
The bank invested SLR40 million to assist women entrepreneurs in partnership with local organizations. This two-year project started in July 2023 and aims to provide training for 150 women-owned SMEs and equip them with resources including seed capital.