HSBC plans to combine Singapore banking operations
The proposed merger would bring services for individuals, businesses and institutions under one entity, while leaving the bank’s regional structure unchanged.
HSBC plans to merge two operations in Singapore into a single banking entity serving individual, business and institutional customers. Surendra Rosha, its Co-Chief Executive for Asia and the Middle East, confirmed the proposal in a statement to Reuters.
The Singapore structure dates back to a 2016 change, when HSBC separated its retail and wealth management businesses from its Singapore branch. Those activities have since been housed in HSBC Bank (Singapore) Limited, its local subsidiary.
Rosha said HSBC did not plan to alter its regional structure. Ownership and management of the bank’s Asia-Pacific banking entities will remain with its subsidiary based in Hong Kong.
For the first half of 2026, Hong Kong accounted for US$7.8 billion in pretax profit, or about 40 per cent of HSBC’s total group profit. Singapore’s contribution for that period was US$774 million.
