HSBC has changed its branch footpring across Singapore as part of its wider goal to increase its market share in retail banking.
HSBC Bank (Singapore) announced on Tuesday changes to its branch footprint across the island, including refurbishments and new locations. The changes are part of HSBC’s increased strategic investments to grow its market share in Singapore, the bank said.
«We want to be a bank for all Singaporeans and international professionals who are living and working here. This will require three things: providing the best customer experience, delivering the right products and propositions, and delivering a blend of physical and digital channels that make sense for them,» Anurag Mathur, Head of Retail Banking & Wealth Management, HSBC in Singapore, said.
«Securing these prized locations and continuing to invest in them underlines the HSBC Group’s long-term commitment to Singapore as a strategic growth market,» he added.
Growth and Changes
The bank's latest footprint changes are as follows:
- Flagship Claymore branch re-vamp including launch of the first ‘Jade Centre’ in Southeast Asia
- New Jade Centre at Jewel Changi Airport (Jewel)
- New branch at Alexandra Retail Centre
HSBC’s sharpened focus on its branch locations is aligned with its strategic intent of achieving growth across customer segments which include Singaporeans and expatriates with international needs, from millennials to high net worth individuals (HNWIs).
Recent Changes
Over the past few years, HSBC has revitalised key branches and improved accessibility by partnering with 7-Eleven to expand its cash access network to over 800 cash touch-points, re-locating its Tampines branch to a prime location. It also opened the Raffles Place branch and renovated the Suntec City branch to sport a new layout and interior that utilises digital technologies
HSBC currently has branch presence in 13 strategic locations around Singapore and continues to invest in its physical and digital channels in Singapore.
