FollowDouglas Flint, chairman and the lead of the HSBC Bank has sounded the alarm for the poor customers. In other words, he stated that the poorer customers would be the first ones in terms of losing their access to the financial services of the Bank which they had been enjoying for quite some time now. The reason for making this disheartening statement can reflect the condition of the bank. There might also be some other reasons behind this statement which has been made from the side of the Chairman. At the city week banking conference, the words which were uttered by Flint were that they are afraid of the fact that the banking industry would be moving towards entertaining and serving the well-off customers and would not be vigilant in dealing with the poor and basic customers.
All of the banks of the regions have also argued that the rules which had been introduced from the side of the regulators have made it quite tuff for them to give equal levels of treatment to all the customers. Most of the banks have also been keen in terms of making use of the rules, as they have no withdrawn to offer their advice to those customers whose deposits happen to be less than 50,000 pounds. The same is the case with some of the banks in the United States, who are now more concerned about dealing with the customers who have some handsome sums of cash. Flint also added that the overzealous ruling and regulation would also result in some other aversive actions.
In all, it is visible that the poor customers or those who have deposits than the limits that have been specified by the banks of the regions would be the ones who would be taking the hit. He continued by saying that it is getting more tuff for them in terms of the sales of the products to those customers who are marked for their low levels of income and that the system would in the phase of retrograde if those customers would be included that were brought into the system from our side.
