HSBC Bank Australia has opened a new branch in North Sydney to expand its market presence in Australia. The bank also plans to add five to ten branches each year to its branch network in Australia.
HSBC’s strategy is focused on building customer relationships with multiple financial products underpinned by customer service and international connectivity.
The new branch accommodates an HSBC Premier centre in addition to the regular HSBC bank branch. HSBC Premier is a global banking service for mass affluent retail customers, offering a full suite of global banking products and services including a dedicated relationship manager, cross-border banking and wealth management services. HSBC Premier is central to the HSBC’s retail expansion plans in Australia.
Moreover, HSBC is planning to open Canberra branch in the third quarter of 2010.
Graham Heunis, head of personal financial services for HSBC Bank Australia, said: “HSBC sees great potential for its banking business in Australia and is committed to growing its presence here. Australia’s position as a mature market in the emerging markets Asia Pacific region, and our growing and increasingly international population, present significant opportunities for HSBC’s business and retail customers here. And as the world’s leading international bank, it presents significant opportunities for HSBC as well.”