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HSBC vs Lloyds TSB

Kipp pits HSBC and Lloyds TSB against each other in the battle of the banks

The credit crunch hasn’t been good to banks, so we feel as though we’re kicking banks when they’re down by pitting two of the biggies against each other. But last we checked, banks don’t show their customers much mercy when they need it. So, let the battle of the banks begin. The contenders are HSBC Group and Lloyds TSB. They’ll be judged on four categories; each score is out of ten.


Founded in 1865, HSBC is named after the Hong Kong and Shanghai Banking Corporation Limited. It was established to finance the growing trade between Europe, India and China. Soon after creation, it opened branches throughout Southeast Asia, including Thailand’s first bank. In fact, HSBC printed the nation’s first bank notes. How convenient. HSBC then expanded its operations around the world, and now it calls itself the world’s local bank. It’s a long and interesting history. Score: 7

-Customer service
Based on personal experience and horror stories relayed to us by friends and readers, HSBC’s customer service can turn a sane person into an axe-wielding killer. Yes, it’s that bad. From unhelpful, and often misinformed staff in the customer service department, to systems that simply don’t work, HSBC has caused numerous customers to swear off banks altogether. Score: 1

HSBC has three major branches throughout Dubai, and countless smaller branches. In fact, the bank is all over the place, which is a big bonus. Score: 8

In October 2008, HSBC doubled the personal loan threshold from AED5,000 to AED10,000. The public wasn’t happy with the news. Imagine, then, how the public felt when it doubled the threshold again in November from AED10,000 to AED20,000. That’s right, they were furious. The only good news is that it’s still offering mortgages for villas and apartments in the UAE, but it upped the requirements for home financing. Score: 2

Final score: 18


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