HSBC plans to serve individuals, businesses and institutions in Singapore through one banking entity.
Surendra Rosha, the bank’s Co-Chief Executive for Asia and the Middle East, confirmed the planned merger of two local operations in a statement to Reuters.
HSBC moved its retail banking and wealth management business out of its Singapore branch in 2016.
The business has since operated through its local subsidiary, HSBC Bank (Singapore) Limited.
Rosha confirmed that HSBC had no plans to change its regional structure.
The bank’s Hong Kong-based subsidiary will continue to own and manage its Asia-Pacific banking entities.
Hong Kong generated US$7.8 billion in pretax profit in the first half of 2026. That was about 40 percent of HSBC’s group total.
Singapore contributed US$774 million over the same period.
Featured image: Edited by Fintech News Singapore, based on image by igorluschay via Magnific
