HSBC Bank Malaysia

HSBC Bank Malaysia Berhad was incorporated locally in Malaysia on 1 October 1984. It is part of the HSBC Group and is a wholly owned subsidiary of HSBC Holdings plc, headquartered in London.

History

In 1884, after the establishment of The Hongkong and Shanghai Banking Corporation Limited offices in Shanghai and Hong Kong, the bank established its third office in Penang, one of the Strait Settlements in present-day Malaysia, with permission to issue currency notes. The bank later opened its office in Malacca in 1909 and by the end of 1912, offices had opened in Ipoh, Kuala Lumpur, Johor Bahru and Kota Bharu. During the 1920s and 1930s, the bank opened more branches in several states, Sungai Petani branch in 1922, Kuantan in 1929, Muar in 1930, and Kuala Terengganu in 1936.

In East Malaysia, the first branch opened in Kota Kinabalu in 1947. Branches were set up in Sandakan and Tawau a year later, followed by Labuan in 1957. Meanwhile, in Sarawak, branches opened in Kuching in 1958 and 1964 and in Sibu in 1959.

By 1959, The Hongkong and Shanghai Banking Corporation Limited had embarked on a programme of acquisitions – including The Mercantile Bank and alliances and has network of 40 branches throughout Malaysia. Through the acquisition of The Mercantile Bank, which started operations in Malaysia in 1860, HSBC is indirectly the oldest bank in Malaysia.

Currently HSBC Bank Malaysia Berhad has a network of 40 branches nationwide.

Malaysian banking
HSBC Bank Malaysia is the largest foreign-owned bank in Malaysia by asset, offers a full range of personal and commercial banking services from its network of branches and direct channels. In addition, HSBC has been offering Islamic financial services in Malaysia since August 2006 through its Islamic banking subsidiary HSBC Amanah Malaysia Berhad in Malaysia.

Other websites
HSBC Bank Malaysia website
HSBC Branches in East Malaysia
HSBC Group website
Company Overview of HSBC Bank Malaysia Berhad, bloomberg.com

Category:Companies of Malaysia
Category:Banks of Asia