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Updated Slide Deck Template Task 1

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Manish Patra
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39 views5 pages

Updated Slide Deck Template Task 1

Uploaded by

Manish Patra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Company X

Commercial Banking
[13/01/2024]
Company X - Background Information
1. Company X is a growing London-based electronics manufacturing business. It
manufactures over 20 different product, , including televisions, monitors, washing machines,
and dishwashers.

2. Currently, Company X has an annual turnover of $10m and is growing rapidly. Company X’s
main clientele come from the big high street retailers who, in turn, sell products to end
consumers. These big retailers are mainly based in the U.K. and mainland Europe and deal
in GBP, Euros, and Swiss Francs.

3. Company X’s main raw material suppliers are based in China and Singapore and transact in
Chinese Yuan and Singapore Dollars.

4. Company X has an aggressive three-year expansion plan for Asian markets, particularly in
China and Hong Kong, where the trade will predominantly take place in Chinese Yuan and
Hong Kong Dollars. Additionally, all freight, transportation, and marketing charges are
agreed in U.S. Dollars for their stable nature and their title as the world’s reserve currency.
Challenges faced by company X
1. Need to deal with unfavorable foreign currency exchange rates as she converts from
one currency to another across three banks.
2. Don't know how much to receive at the time of exchanging money from one currency
to another.
3. Need to maintain a minimum balance in each account which has significantly
increased the business’s cash requirement. This has proved to be detrimental to
Company X’s growth as valuable cash was diverted towards maintaining minimum
balances at these banks.
4. With each transaction between accounts and banks, extra additional processing fees
is charged.
5. Need to deal with five bank accounts, cheque books, bank cards, and online login
credentials.
6. Need to spend a disproportionate amount of time managing multiple accounts and
paperwork.
7. Some of the suppliers and customers have refused to receive and/or make
payments to overseas banks, severely limiting business’s growth potential.
HSBC Global Wallet
HSBC Global Wallet gives you the ability to view, hold, manage, make and receive payments in multiple
currencies, all from HSBCnet. You’ll be able to complete foreign currency transactions quickly and easily,
wherever your customers and suppliers are.
Total visibility and control Save time, effort All on one platform: HSBCnet.
of your currencies. and money.

Here’s how it works Ten key currencies available now… with more to come

1.Multiple currencies, all in one place HBSC Global Wallet - currencies.


View, hold, manage, pay and receive in a range of currencies in one place,
saving you time and effort. Australian Dollars, Canadian Dollars, Chinese Yuan,
Hold Euros, Hong Kong Dollars, Japanese Yen, Singapore
2. Faster international payments using local account details
Dollars, Swiss Francs, US Dollars
Transact with your customers and suppliers in other countries with faster
international payments, using local account details. Australian Dollars, Canadian Dollars, Chinese
3. No hassle, no multiple accounts and logins Pay like a local Yuan, Euros, Hong Kong Dollars, Japanese Yen,
HSBC Global Wallet is integrated with HSBCnet, our award-winning online Malaysian Ringgit, Singapore Dollars, Swiss
banking platform and mobile app. Francs, US Dollars
4. Greater control
Benefit from the enhanced capabilities and security of HSBCnet, including Receive like a Australian Dollars, Canadian Dollars, Chinese
entitlements, and two-factor authentication, local Yuan, Euros, Hong Kong Dollars, US Dollars
Thank you

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