Opinions divided on SME credit-bureau plan

Two leading banks have expressed differing views on a proposal to establish a credit-reference bureau for small and medium enterprises (SMEs) as a means to bolster lending to the sector.

Standard Chartered Bank said it supported the proposal but more than that needed to be done to revive the sector.

Group executive director Mervyn Davies said the bank considered establishment of the bureau one of many steps needed to help boost banks' confidence in supporting SMEs.

'If banks have to get together with the government and with other officials and [assess] how best we can approach it, good idea. We as a bank will be very keen to help on that,' he said.

HSBC was less enthusiastic.

Assistant general manager Edwin Lau Chi-kit would not say if the establishment of such a body would encourage banks to offer more support to SMEs.