HSBC Bank Australia
| HSBC Bank Australia Limited
|
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|---|---|
 |
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| legal form | Subsidiary of the HSBC Group |
| founding | 1965 |
| Seat | Sydney , Australia |
| management | Paulo Maia , CEO |
| Branch | Banking, finance |
| Website | www.hsbc.com.au |
The HSBC Bank Australia Limited (formerly the Hong Kong Bank of Australia Limited ) has since 1986 a banking license in Australia . The bank is a subsidiary of Hong Kong and Shanghai Banking Corporation Limited and part of the HSBC Group . HSBC Bank Australia Limited is a leading international bank in Australia that offers a comprehensive range of services to private and business customers.
The bank currently has 25 branches in Australia but plans to open up to 100 branches by 2020.
history
HSBC obtained a banking license in Australia in 1986 after the Australian government changed the rules for foreign banks in the country. HSBC wasn't the first overseas bank to operate in Australia, it was Chase-AMP, but it was the first overseas bank to operate in the corporate banking space.
- 1986: Start of business with business customers.
- 1991: Start of private customer business.
- 1992: After previous losses, profits are made by the bank for the first time.
- 1995: Discounted mortgages are introduced in Australia.
- 1997: Telephone banking and credit cards are introduced.
- 1998: HSBC InvestDirect (Australia) Limited was founded.
- Financial pension products are introduced.
- 2001: Takeover of NRMA Building Society Limited .
- Online banking for private customers is introduced.
- 2005: Sale of Australian asset management to Challenger Financial Services .
- 2006: Part of the mortgage business is sold to FirstMac .
- Parts of Westpac's operations in Australia and New Zealand are taken over.
- Part of the credit business is the St.George Bank sold
- Sale of Australian online stock trading to E * TRADE Bank
- 2008: Founding of the Global Investments branch.