HSBC defends itself after months of jabs from Jason Kenney over oilsands lending policy
CALGARY — HSBC Holdings Plc says it remains committed to Alberta, even if the province’s incoming premier Jason Kenney has launched a scathing attack on the bank and pledged that his government won’t conduct business with it until Europe’s largest bank changes its energy lending policies.
“When multinational companies like HSBC boycott Alberta, we’ll boycott them,” Kenney said in his victory speech earlier this month after winning 63 seats in Alberta’s 87-seat legislature. — Jason Kenney April 27, 2018“I want to be absolutely clear — we have not and are not ‘boycotting’ anyone. HSBC is a long-time supporter of Alberta and the energy sector. That has not changed,” said Sharon Wilks, HSBC Bank Canada’s spokesperson.
“Every time the industry has faced a downturn, we showed our personal commitment to help our customers weather the storm — and we are still here, continuing to do that,” Wilks said. She added that HSBC is a “leading bank for oilfield services companies” and would continue to invest in the province.
HSBC also has a large business in Alberta’s real estate sector and with businesses outside of the energy sector, both bankers said. “We have had extensive discussions with John Flint, their CEO, and the HSBC team. Regrettably, they continue to target based on reservoir, rather than on leadership or on performance based criteria,” Suncor spokesperson Nicole Fisher said at the time.
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