HSBC makes new play to grow HK loan sector

The bank's push to target young consumers with low incomes is supported by a multimedia campaign developed by Bates Hong Kong. The 15-second spot shows a man wearing a suit and washing his hair as a play on the Chinese metaphor of being trapped in a difficult situation. The TV spot is supported by Chinese-language print and radio ads, outdoor posters and stickers around the bank's branches. Online banners have been posted on the web and a direct marketing campaign will aim to reach existing HSBC customers. The campaign is targeted 25 to 34 age group, who earn between HK$10,000 (US$1,282) to $20,000 a month. The scheme aims to appeal to this demographic with its fixed borrowing amount and interest rates based on income. "With other lending institutions are offering complicated benefits -- many through complicated promotions -- consumers can easily be trapped into a financial situation with an unusually high repayment scheme," said Grace Loong, business director Bates Hong Kong. The campaign follows a credit card promotion by the bank.