HSBC first established operations in Australia in 1965 and subsequently gained a commercial licence in 1986. The bank, which is headquartered in Barangaroo, Sydney’s premier commercial district, employs over 2,000 people in offices and branches in each mainland state capital.
HSBC has a full-service offering in Australia including retail banking, commercial banking, global banking, global markets and private banking services. The bank offers a comprehensive suite of products and services including retail, wealth and private banking products, treasury and liquidity management solutions, working capital and supply chain financing, capital raising and financing and corporate investment solutions.
At the beginning of 2017, HSBC embarked on a three-year plan to significantly grow its footprint, balance sheet and market share in Australia. Over that period, it will be increasing its branch network by 50 per cent, investing significantly in digital capabilities, partnering with mortgage brokers, hiring over 300 colleagues, expanding in sectors such as agribusiness and corporate real estate, and introducing new products and services.
With a global network positioned across all of the major trade and financial centres, HSBC has long been the bank of choice for internationally-focused consumers and businesses in Australia. Now, HSBC wants to build on that position by also becoming a credible domestic alternative for a wider group of customers.