HSBC enters mortgage broking market

HSBC has entered the mortgage broking market in a deal made with the Australian Finance Group. HSBC's latest move is seen as an attempt to widen its distribution base to keep up with industry competition. However, unlike other banks, HSBC is increasing the number of its branches, which will total 21 within a month. HSBC is also expected to announce more broker alliances this week.

‘HSBC builds mortgage side', The Australian Financial Review, 19/03/01, p 20.