August - HSBC challenges Citi on Mexican remittances


Following its acquisitions of US consumer finance group Household International and top-five Mexican bank Bital, HSBC said it was well placed to service Mexican workers in the US sending money home -- said to be a major contributor to Citigroup’s forex income.

HSBC’s chief executive Stephen Green reckoned HSBC could secure about 10% of the total market share of the US-to-Mexico remittance flow. "10% is our share of the Mexican consumer market," he said. "That’s something to shoot for."

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: