HSBC denied yesterday that it had tightened enterprise loans for small and medium-sized businesses.
This followed complaints from a number of companies about financial institutions refusing to lend amid the global financial crisis.
Margaret Leung Ko May-yee, HSBC's group general manager and global co-head of commercial banking, said the total value of SME loans it granted and the number of clients that were given loans in the third quarter increased year-on-year, showing that the bank had not tightened credit.
'It's unfair to say that,' Mrs Leung said. 'Of course there are some individual cases [who have had their loan applications rejected].
'For example, those companies who have no orders on their hands or who have problematic financial [records]. As a responsible bank, we have our duties.
'But overall, we have increased loans,' she said, adding that she did not know if other banks had tightened credit.
