HSBC Canada

Canada’s HSBC Bank has built its costumer service policy on pledges to meet the local banking needs of individuals who are working in the country or planning to move in. Hence the bank’s business slogan reads: “HSBC The world’s local bank.”

At a first glance, the bank’s website impresses with its user-friendly vision and functionality. In addition to the sections displayed in the two official languages in Canada – French and English, the site has texts in Japanese and Chinese.

The history of the bank begins on July 1, 1981, when the Hong Kong-based Bank of Canada, now HSBC Bank Canada, was incorporated as a chartered bank under the Bank Act of Canada. At present, HSBC Bank Canada is headquartered in Vancouver and has over 260 representative offices as well as 140 branches across the country. This banking institution operates as a subsidiary of the London-based HSBC Holdings plc, which is the largest international bank and the seventh largest bank in Canada. The first men of HSBC Bank Canada are: Mr. Michael Geoghegan, Chairman of the Managing Board of HSCB Bank Canada, Mr. Lindsay Gordon, President and CEO, and his deputy – Mr. Matthew Bosrock.

Some of the subsidiaries of HSCB Bank Canada are: HSBC Capital Inc – the company has specialized in offering merchant banking services, and it also holds a license for carrying out business and banking operations in British Columbia, Alberta, Manitoba and Ontario. In addition, HSBC Insurance Agency Inc, as suggested by its name, offers life and health insurances to costumers in Alberta, British Columbia, Saskatchewan, Ontario, Quebec and Nova Scotia. The lending business of HSCB Group Canada is managed by HSBC Financial Corporation Ltd, which offers a wide range of consumer loans, mortgages, private-label credit cards and deposits. HSBC Investment Funds Inc is a mutual fund dealer with representative offices in almost all Canadian provinces.

To their business clients in Canada, the devoted team of HSBC Bank is pleased to offer a wide range of commercial financial services, such as deposits, treasury, cash and asset management, along with a flexible and user-friendly e-banking option, short and medium-term financing solutions and operating credits, import and export financing, leasing solutions for the purchase of equipment and means of production, as well as investment and capital financing.

To their individual clients, the officials of HSBC bank offer a vast variety of personal banking services including checking and savings accounts and deposits, personal financing solutions such as consumer loans and credit cards and tailored mortgage plans. In addition, the personal banking business of HSBC bank has convenient internet and telephone banking channels, along with a broad array of wealth management and planning services, investment advisory, trust, estate and insurance services. Finally, the International Banking Centers offer assistance with regard to financial resource relocation to foreign nationals who are arriving or immigrating to Canada. Individuals who travel outside of the country may take advantage of the travelers cheques and insurances offered by the bank. The travel insurance covers up to $5,000,000 intended for emergency treatment of individuals traveling abroad. The comprehensive coverage takes care of rental car damages and emergency transportation.

Although it has been labelled “The world’s local bank”, HSBC Bank Canada has a serious international reach, as the banking institution is among the members of the Canadian Bankers Association, which has over 8,500 members in eighty-six countries and territories around the world. HSBC Group has reported assets of over two billion US dollars for the first half of 2009, which makes it one of the largest providers of banking and financial services and products in the world.