HSBC

In Singapore, The Hongkong and Shanghai Banking Corporation Limited first opened its doors in December 1877. Today, HSBC's flagship office remains at the original Collyer Quay site where its first branch was opened.

One of the earliest banks to establish in Singapore, HSBC is today a prominent player in Singapore's banking sector and offers a broad range of banking and financial services tailored to meet a wide spectrum of needs, from those of multi-national corporations to local businesses and individual Singaporeans. As a Full Banks in Singapore, HSBC may provide the whole range of commercial banking business approved under the Banking Act. Linked to the Group's international network, HSBC in Singapore provides customers with a comprehensive range of financial services including personal, commercial, corporate, investment and private banking, insurance, forfaiting and trustee services, securities and capital markets services.

Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorized by MAS, including financial advisory services, insurance broking and capital market services.

A Qualifying Full Bank, HSBC Singapore has 18 locations comprising of 9 full branch services, a dedicated centre for HSBC Premier customers and 8 other locations providing Automated Teller Machines, Cash Deposit Machines and electronic banking channels including 24-hour PhoneBanking services and Internet banking services. Commercial banks in Singapore are licensed under and governed by the Banking Act. They may undertake universal banking. Besides commercial banking, which includes deposit taking, the provision of cheque services and lending, the banks may also carry on any other business which is regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services. (Section 30 of the Banking Act defines the permissible activities). Commercial banks and their representatives do not have to be separately licensed to carry out such activities, but must comply with the business conduct requirements prescribed in the Financial Advisers Act (FAA), Insurance Act (IA) and Securities and Futures Act (SFA) accordingly.