For HSBC Philippines, 150 is not just a number
Turning 150 years old is already a milestone and a cause for celebration.
But for HSBC Philippines, 150 years is more than just a number to be commemorated. It is not just about longevity.
A century and a half is a testament to the bank’s endurance and resilience, an affirmation of the strength of connections and relationships it has built and nurtured through the years.
Older than the Philippine Republic itself, which was proclaimed only in 1898 or 23 years after it opened its very first office in Manila, HSBC Philippines has not only been a witness to its host country’s historic and memorable moments but a partner and active participant as the nation struggled to grow and flourish and achieve economic prosperity.
HSBC opened its first branch in the Philippines on Nov. 29, 1875, ten years after the bank was founded in Hong Kong, in Binondo, the heart of Manila’s renowned Chinatown.
The bank’s early business in the Philippines concentrated on the financing of the sugar trade, then one of the country’s major industries and foreign currency earner. Its commitment to helping the industry led to the opening of the HSBC branch in Iloilo City to support the sugar trade.
The bank also financed the building of some of the earliest sugar and rice mills in the country.
It helped stabilize the Philippine monetary system in 1899, strengthening the fledging republic’s financial system.
In 1883, it helped finance the country’s first railway– the Manila-Dagupan Railway, and assisted in its upgrade in 1906 with the building of a 150-mile extension, boosting Philippine trade and commerce in Luzon.
After the devastation of World War II, as the Philippines struggled to rise from the ashes and rebuild the nation, HSBC demonstrated its resilience as a financial institution and affirmed its commitment to support its host country by re-opening its war-damaged headquarters.
In 1946, though the country was still struggling to recover fully from the global conflict, HSBC Philippines was the first bank to honor its promise to return customer deposits in full.
By the 1980s, HSBC Philippines actively expanded its presence in the country, opening branches in key locations within Metro Manila and the cities of Cebu and Davao.
For a 150-year-old, HSBC Philippines remains agile and open to new ideas, constantly seeking ways to better serve its clients and partners. In recent years, it has been investing in digital innovations to service customers’ changing needs and provide them with a more convenient and safer banking experience.
HSBC Philippines has remained steadfast in its support to nation-building. It has partnered with the Department of Trade and Industry and the Philippine Economic Zone Authority to promote the country as an ASEAN (Association of Southeast Asian Nations) investment hub.
It has taken on a prominent role in enabling foreign direct investment (FDIs) and other nation-building activities including joining the state visit to India and economic briefing in London, to help the Philippines reach economic powerhouse status.
This year, HSBC Philippines celebrates turning 150 years old by showcasing these and other accomplishments that have made it the partner of choice for clients with international banking needs. It also reaffirms its commitment to link up customers to opportunities globally, as it has done since 1875.
The milestone is also a rare opportunity to acknowledge and honor the institutions and people that have made it possible for HSBC Philippines to achieve what it did in a century and a half – partners, employees, clients and all stakeholders that have made it resilient and able to withstand and survive the challenges, uncertainties of a global economy constantly in flux.
HSBC Philippines is particularly proud of and grateful to the men and women who have served the bank loyally and selflessly, and have supported its every effort and initiative to provide its clients the best service possible.
The bank continues to develop and invest in its people and makes sure that its employees are equipped with the best skills and expertise to service effectively clients, both global and local, and provide whatever support they need for business or personal transactions.
With a focus on developing skills fit for the future, HSBC Philippines nurtures a dynamic, inclusive and flexible work culture. With an unmatched global network, it provides learning opportunities for employees like no other local bank can.
HSBC Philippines has a long-standing commitment to its people to promote not just their career growth but also their holistic wellbeing, in words and in deed. It empowers employees with the tools, experiences and environment needed to succeed.
The bank has fostered a work environment that champions career growth, inclusive culture, meaningful recognition and holistic wellbeing. Through future-forward programs, a strong values-driven culture and continued investments in people development, it empowers people at every stage of their career.
Its efforts to acknowledge and properly recognize its employees for their work and to give them every opportunity to advance and thrive in the company have earned HSBC Philippines the Asian Banking and Finance Employer of the Year honor.
In 150 years, the full-service universal bank that is one of the leading international banks in the country, has received various honors and awards from prestigious award-giving bodies.
It was named the Philippines’ Best International Bank by several award giving bodies, for instance, for its expertise in connecting retail, corporate and institutional banking customers to cross-border opportunities, applying an international mindset anchored on local knowledge.
HSBC Philippines’ success also owes a great deal to the connections it has made and fostered.
Its industry interactions go beyond banking and finance. It constantly engages with chambers of key commercial corridors and has deepened relationships with industry bodies of sectors that would benefit from HSBC Philippines’ wealth of experience and international capabilities.
HSBC Philippines is now strategically located across Metro Manila, and the cities of Cebu and Davao, covering all three of the country’s main geographic divisions that account for 70 percent of its gross domestic product (GDP), to better perform its role as a trusted partner of institutions and individuals wanting to connect with the rest of the world and benefit from all opportunities available globally.
It continues to open a world of opportunity for clients, employees, community and the country. With offices in over 50 countries, it unfolds opportunities for local and international businesses.
HSBC Philippines remains steadfast in its mission to connect everyone to opportunities across borders, combining an international mindset with local expertise, to help its clients and partners achieve their goals and ambitions anywhere in the world.
“For a century and a half, we have remained focused on our ambition to be the most trusted and respected bank in the country by being customer-centric and by adapting to clients’ evolving and growing needs,” said Sandeep Uppal, CEO and Head of Banking, HSBC Philippines.
