HSBC Bank

HSBC officially opened its doors in Sri Lanka on Friday 1 July 1892, just 27 years after its first offices were established in Hong Kong and Shanghai. The Hongkong and Shanghai Banking Corporation Limited (formerly known as the Hongkongbank and more recently as HSBC) maintained an international outlook from the start, while its activities centred on trade finance.

Over the course of its first few years HSBC built up a network of agencies and branches around the world. By the turn of the century the Asian branch network had extended to Japan, Sri Lanka, the Philippines, Singapore, Thailand, Myanmar and Vietnam.

History

HSBC, in 1882, appointed Delmege Reid and Co. - the predecessor of the present Delmege Forsyth and Co. Ltd. as its agency in Colombo. In 1884 the island’s economy suffered a severe setback when coffee plantations throughout the country were almost totally destroyed by disease. As a result of this and the folding up of the once great Orient Bank, HSBC saw an opening for a corporate bank like itself.

In the early 1920s the bank purchased and began construction on land adjoining the Bank of Madras. HSBC moved into its new home at 24, Sir Baron Jayatilaka Mawatha (which it occupies even today), an impressive landmark in Colombo's architectural and business landscape.

Through the good times and the bad that followed, HSBC supported Sri Lankan businesses. The 'Chetty Crisis' which began in 1927 was so termed because many Chettiar business people were forced to default their loans. While the impression was that foreign banks discriminated against Sri Lankans and did not advance monies freely to local businesses, 50 per cent of HSBC's lending during this time was to Indians and Sri Lankans.

With the stationing of the British Air Force in parts of Sri Lanka during the Second World War, HSBC became a hub of activity. During this time and until 1956, the Government of Ceylon kept a very substantial revenue account with HSBC.

Today, HSBC has become one of the most profitable banks in the country.

Services and Products

Our ability to combine international expertise with in-depth knowledge and experience places us in a unique position to serve customers' domestic and international needs. The Bank's pioneering role reflects its long-term commitment to its customers and to Sri Lanka. Its extensive range of Corporate banking products, which include import-export, money markets, treasury and foreign exchange services, and Personal Financial Services are unrivalled.

In the world of Corporate Banking, HSBC has made several groundbreaking deals. We were the first in Sri Lanka to offer Custody and Clearing Services and a forerunner in offering Trustee Services to Unit Trusts and Debenture Issues. Added to this Treasury, too, has pioneered groundbreaking vanilla derivative deals worth millions of dollars with other leading organisations like Aitken Spence Limited and Brandix Lanka Limited.

Known previously for its capabilities as a corporate bank, HSBC has now made a mark in personal financial services. To cater to the diverse requirements of customers, the bank has created 'HSBC Premier', 'PowerVantage', 'E-Saver', Children Savings Accounts, Smart Saver, Lifestyle Loans, Home Loans and Smart Money. HSBC also provides round-the-clock access to ones money via automatic teller machines around the world and access to a wide variety of services via telephone and the Internet.

HSBC is also the undisputed leader in the credit cards market in Sri Lanka with over 250,000 cards. HSBC has demonstrated that credit cards are no longer a luxury, but a commodity suited to the pace of customer's lifestyles and over the years, the bank has continued to provide a number of excellent privileges to HSBC credit cardholders. HSBC credit cards are accepted in Sri Lanka and at over 29,000,000 establishments the world over, ensuring HSBC credit cardholders a warm welcome anywhere in the world.

Technological Innovations

As an innovative bank, HSBC has led the Sri Lankan banking industry into the electronic age with the installation of the nation's first online automated teller machine (ATM). HSBC was also the first bank to computerise its operations and to establish an Internet Payment Portal. Furthermore, the introduction of phonebanking, personal internet banking and the Group’s global electronic banking platforms, such as Hexagon and HSBCnet, has greatly enhanced the service we deliver to our customers.

Listed below are many firsts from HSBC;

• Installation of Automated Teller Machines (ATMs) in Sri Lanka in 1986
• Computerised banking operations in Sri Lanka
• Electronic DC Advising, a quick and easy way for customers to receive their export Documentary Credit and amendments via e-mail or fax.
• Introduction of electronic banking via Hexagon in 1994
• Introduction of self-service banking through Day and Night Automated Banking Centres in 2004
• Launch of state-of-the-art banking, internet based electronic banking platform; HSBCnet in 2005
• Introduction of Security Tokens for added online protection in 2005
• EasyPay machines to facilitate cash and cheque deposits in 2006
• Introduction of toll free telephone banking in 2007

Network

We operate in fourteen branches, twenty seven Automated Teller Machines (ATMs), three Day and Night Banking Centres and have a dedicated Premier Centre to serve our customers.

Our Head Office is located at;
24 Sir Baron Jayathilaka Mawatha,
Colombo 1

To add to its growing and expanding network, HSBC can now be accessed through 100 local post offices, being the first private bank in Sri Lanka to initiate such an arrangement. Customers who live in areas that do not have the HSBC presence can make cash and cheque deposits to their personal or corporate accounts and pay their credit card bills at their local post office.

And make credit card bill settlements through the following establishments

• Commercial Banks island wide
• Cargils Food City outlets island wide
• Lanka Bell outlets island wide
• Selected Singer outlets
• Abans Elite showrooms

Staff

The Bank employs a workforce of over 1,800 staff.

Source : http://www.hsbc.lk