Attempts to more effectively target ethnic minority customers: the case of HSBC and its South Asian business unit in the UK

Abstract

Abstract With some regions of the UK containing areas where the ethnic minority population has grown to become the ethnic majority, both personal and business banking needs of these communities provide areas of potential growth for financial institutions. Previous research has indicated that certain organizations do not understand particular cultural practices of customers within ethnic communities and have ineffectively targeted them. This paper provides an insight into how a major bank has addressed the needs of particular ethnic communities. It reports on interview data with the Head of HSBC's South Asian Business Unit. The findings provide a contribution to the body of knowledge associated with the interface between subculture and financial institutions' marketing practices. Copyright © 2004 John Wiley & Sons, Ltd.

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