HSBC to offer billions to SMES

HSBC has hiked its annual lending fund for small businesses to a record £12 billion and has ring-fenced £1bn for the first time to help boost overseas trade as Brexit approaches.

The banking giant said the annual lending commitment was its highest to date since launch five years ago and £2bn more than in 2017. It comes after HSBC’S 2017 fund was fully used by small and medium-sized UK firms.