The HSBC Bank Canada
is a subsidiary of HSBC Holdings plc that maintains its headquarters in London. HSBC Holdings is a giant worldwide bank group that is one of the largest in the world with over 10,000 offices. The HSBC Bank Canada has come a long way since its inception in Canada in 1981, carving out a larger chunk of the Canadian market, with each acquisition.
The HSBC Bank Canada began as the Hongkong Bank of Canada as a fully chartered Canadian bank in 1981. Since that time it has spent the next two decades acquiring other banks to expand its presence, assets and branch locations in the Canadian market. Some notable acquisitions:
- Bank of British Columbia in 1986
- Midland Bank Canada in 1988
- Lloyds Bank Canada 1989
- ANZ Bank Canada 1993
- Barclays Bank of Canada 1996
- Prenor Trust Company of Canada 1999
- Republic National Bank of New York 2000
- Intesa Bank Canada 2004
In 1999, The Hongkong Bank of Canada changed its name to HSBC Canada, and has continued to promote its brand, foster growth and availability of bank products with over 170 branches and $62.9 billion in assets. It is now recognized as the seventh largest bank in Canada. The HCBC Canada's main office is located in Vancouver, BC, with its primary market in that area as well.
The HSBC Bank Canada is a member of both the CBA and CDIC. It also provides its bank customers services through Interac, MasterCard, Cirrus Network, The Exchange and BMO Bank of Montreal
. The HSBC Bank Canada has over 6,000 employees and 125 million customers.
Services and Community Involvement
The HSBC Bank provides full personal and corporate banking services including, private, business, personal, investment banking, personal financial services and international banking. It has over 4,000 ABMs throughout Canada and offers online banking services as well. HSBC has also shown a substantial, corporate concern for the environment, by conducting business to reduce its environmental footprint, and contributed 100 million dollars to charities involved with clean air initiatives. It also, instituted a a carbon nuetral policy and commitment to reduce its use of paper in its business transactions. HSBC Bank Canada has made all the right business moves for continues growth and stability.
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