HSBC Bank Australia

Australian subsidiary of multinational bank

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HSBC Bank Australia Limited

Headquarters at Tower 1, International Towers, Barangaroo, Sydney

Company type| Subsidiary
Industry| Banking
Founded| 1985; 40 years ago (1985)
Headquarters| Sydney, Australia

Key people

| Antony Shaw (CEO)
Products| Financial services, consumer banking, investment banking, wealth management, mortgages, personal loans, credit cards
Parent| HSBC Holdings plc[1]
Website| www.hsbc.com.au

HSBC Bank Australia Limited (formerly the Hongkong Bank of Australia Limited[2]) is the Australian subsidiary of HSBC.[1] The bank offers a wide range of financial services in Australia through a network of 36 branches and offices. These services include retail and commercial banking, financial planning, trade finance, treasury, and financial markets, payments and cash management, and securities custody.

HSBC Bank Australia was granted a banking licence in 1986, although the bank had originally established an Australian presence as Hongkong Finance Ltd in 1964.[3] It is a foreign bank in Australia, offering a wide range of banking products and services to the retail, commercial, corporate and institutional sectors.

The bank's headquarters is located in Barangaroo, a suburb in central Sydney.

## History

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HSBC was granted an Australian banking licence in 1986 after the Australian federal government changed the rules to allow foreign banks into the country. HSBC was not the first foreign bank to enter Australia, the first was Chase-AMP, but HSBC was one of the first foreign entrants into the business banking sector.

* 1986 — launched Commercial Financial Services
* 1991 — launched Personal Financial Services
* 1992 — began to be profitable after several years of losses
* 1995 — introduced discount home loans in Australia
* 1997 — introduced telephone banking and credit cards
* 1998 — established HSBC InvestDirect (Australia) Limited

— introduced financial planning services in Australia

* 2001 — acquired NRMA Building Society Limited

— launched internet banking for personal customers in Australia

* 2005 — sold Australian asset management business to Challenger Financial Services
* 2006 — sold broker-originated mortgage book to Firstmac

— acquired Westpac sub-custody business in Australia and New Zealand
— sold margin lending portfolio to St. George
— sold Australian online stockbroking business to E-Trade

* 2008 — established Global Investments business

In January 2025, HSBC was studying options to restructure its Australian business including a sale of its consumer banking business, while keeping the commercial banking operation.[4]

## Products and services

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### Bank accounts

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HSBC offers a wide range of bank accounts in Australia, including transaction and savings accounts, term deposits, and foreign currency accounts.

All of HSBC's transaction accounts include a linked Visa Debit card, fee-free access to over 3000 ATMs Australia-wide, which include those from HSBC and banks that offer access to fee-free ATMs, access to mobile and internet banking, and are rated 5 stars for outstanding value by Canstar.[5][when?]

HSBC Premier, which is available in Australia and other markets within the HSBC Group, is a premium banking service that is available for its wealthy clients and includes a personal financial planning service, an online share trading platform, and SMSF assistance to advise upon all types of personal and business investments.[citation needed]

### Credit cards

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HSBC credit cards include low-rate, low-fee, and rewards cards, with features including low-interest rates and annual fees, balance transfer offers, and an ability to earn HSBC Rewards points which can be redeemed for a range of products and services, or Qantas Points towards the Qantas Frequent Flyer program.[citation needed]

### Home loans

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HSBC home loans feature flexible repayment plans, a personal relationship manager, and the ability to easily switch a home loan from another bank.[citation needed]

### Personal loans

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HSBC personal loans provide the ability to borrow money when needed for a range of situations. Applications can be completed online, with quick approval and transfer of funds, along with fixed repayments. HSBC's loans were rated an expert's choice by Mozo for Overall Value.[6][when?]

### Insurance

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HSBC Insurance products include general home and contents or landlord insurance, car insurance, life insurance including critical illness cover and life cover, as well as travel insurance, issued by Allianz Australia Life Insurance Limited.[citation needed]

## See also

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* Banks portal

* Banking in Australia
* List of banks
* List of banks in Australia
* List of banks in Oceania
* Reserve Bank of Australia
* Australian Prudential Regulation Authority
* Australian Securities and Investments Commission

## References

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1. ^ a b About HSBC
2. ^ "HSBC BANK AUSTRALIA LIMITED ACN 006 434 162". Retrieved 10 March 2021.
3. ^ "HSBC FINANCE (AUSTRALIA) PTY LIMITED ACN 000 481 907". Retrieved 10 March 2021.
4. ^ Chan, Vinicy (20 January 2025). "HSBC Said to Explore Options for Consumer Banking in Australia". Bloomberg.com. Retrieved 20 January 2025.
5. ^ "HSBC Bank Accounts | Transactional, Savings - HSBC AU".
6. ^ "HSBC Personal Loans | Loan Finance Online - HSBC AU".

* Barry Williams (December 2006). "Foreign Banks: What Do We Know". Economic Papers, Special Edition. Economic Society of Australia.
* Dr Diana Beal (2002), Overview of Financial Services Post-Deregulation

## External links

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* HSBC Bank Australia website
* HSBC Group website
* HSBC New Zealand

* v
* t
* e

HSBC

Origin|

* The Hongkong and Shanghai Banking Corporation

Board of directors|

* Kathleen Casey
* Laura Cha
* Henri de Castries
* Jonathan Evans
* David Nish
* Noel Quinn
* Mark Tucker

Brands|

* HSBC Expat
* HSBC InvestDirect
* HSBC Premier
* HSBC Private Bank
* PayMe
* Proa

Principal local banks|

* Australia
* Bangladesh
* Bermuda
* Brazil
* Chile
* Mainland China
* Egypt
* Continental Europe
* Germany
* Hong Kong
* India
* Indonesia
* New Zealand
* Malaysia
* Malta
* Middle East
* Mexico
* Monaco
* Philippines
* Poland
* Saudi Arabia
* Singapore
* South Korea
* Sri Lanka
* Japan
* Taiwan
* Thailand
* Turkey
* United Kingdom
* United States

Subsidiary banks|

* First Direct (UK)
* Hang Seng Bank (Hong Kong) (63.04%)
* M&S Bank (UK)

Minority stakes and JVs|

* Bank of Communications (19%)
* Canara HSBC Life Insurance (26%)
* HSBC Saudi Arabia (60%)
* SABB (40%)
* Techcombank (15%)

Predecessor companies|

* Bank of British Columbia
* Barclays Bank Canada
* Beneficial
* Continental Bank of Canada
* Crédit Commercial de France
* Greenwich Savings Bank
* Grupo Banistmo
* Guyerzeller
* Household
* Imperial Bank of Persia
* Lloyds Bank Canada
* Marine Midland Bank
* Midland Bank
* Republic New York
* Samuel Montagu & Co.
* Williamsburgh Savings Bank

Former local banks|

* Argentina
* Armenia
* Canada
* Costa Rica
* Georgia
* Greece
* Panama
* Russia

Former subsidiaries|

* Charterhouse Capital Partners
* HSBC Rail

Scandals|

* Libor scandal
* Swiss Leaks
* more

* Category
* Commons

* v
* t
* e

Banking in Australia

Central bank|

* Reserve Bank of Australia

Local banks|

| Majors (Big Four)|

* ANZ
* Suncorp Bank
* Commonwealth Bank
* Bankwest
* National Australia Bank
* UBank
* 86 400
* Westpac
* Bank of Melbourne
* BankSA
* St.George Bank

|

Majors (other)|

* Alex Bank
* AMP
* Auswide Bank
* Judo Bank
* Macquarie Bank
* Bank of Queensland
* ME Bank
* Virgin Money
* Bendigo & Adelaide Bank
* Up

Member-owned|

* Bank Australia
* Australian Unity Bank
* Bank First
* BankVic
* Beyond Bank Australia
* Cairns Bank
* Community First Bank
* Credit Union SA
* Great Southern Bank
* Hume Bank
* IMB
* MyState
* Newcastle Greater Mutual
* Greater Bank
* Newcastle Permanent
* P&N Bank
* People First Bank
* Heritage Bank
* People's Choice
* Police Bank
* Qudos Bank
* RACQ Bank
* Regional Australia Bank
* Teachers Mutual Bank

Defunct|

* Volt Bank
* Xinja

Foreign banks|

* Arab Bank
* Bank of China
* Bank of Beirut
* Heartland Bank
* HSBC
* ING
* Rabobank

Non-bank lenders|

* Aussie
* Latitude
* La Trobe Financial
* Mortgage Choice
* Pepper Money
* Zip Co

Regulators|

* Australian Securities and Investments Commission
* Australian Competition & Consumer Commission
* Australian Prudential Regulation Authority
* Australian Payments Council
* Australian Payments Network
* eftpos
* BPAY
* New Payments Platform
* Four pillars policy

Other Financial Institutions|

* Cuscal
* Tyro Payments

Commissions of Inquiry|

Royal Commission 2017–2019

* Category:Banks of Australia
* Economy of Australia
* Financial system in Australia
* List of banks in Australia

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