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February 14, 2016 11:57 AM ET

Banks

Company Overview of HSBC Bank Canada

Company Overview

HSBC Bank Canada provides various financial products and services to individuals, small and medium-sized companies, and multi-national companies in Canada. The company’s Commercial Banking segment offers various financing products, including overdrafts, term loans, and leasing, as well as syndicated, leveraged, acquisition, and project finance; letters of credit, collections, and guarantees; receivables finance; supply chain solutions; risk distribution products; domestic and cross-border payments, collections, liquidity management, and account services; and capital raising, foreign exchange, and interest rate products. Its Global Banking and Markets segment provides various products and ser...

885 West Georgia Street

Vancouver, BC V6C 3E9

Canada

Founded in 1981

Phone:

604-685-1000

Fax:

604-641-3098

Key Executives for HSBC Bank Canada

Chief Executive Officer, President and Director
Chief Financial Officer
Senior Vice President, Head of Wealth Management, Chief Executive Officer of HSBC Trust Company and President of HSBC Securities Canada Inc
Age: 50
Chief Executive Officer of HSBC Canadian Direct Insurance Incorporated and President of HSBC Canadian Direct Insurance Incorporated
Chief Executive Officer of HSBC Global Asset Management
Compensation as of Fiscal Year 2015.

HSBC Bank Canada Key Developments

HSBC Bank Canada to Redeem Subordinated Debentures

HSBC Bank Canada announced its intention to redeem all $200,000,000 of its 4.94% subordinated debentures due 16 March 2021. In accordance with their terms, the Debentures will be redeemed at 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on 16 March 2016 and will be financed out of the general corporate funds of HSBC Bank Canada.

HSBC Bank Canada Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

HSBC Bank Canada reported earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported profit attributable to common shareholder of CAD 128 million or CAD 0.26 per basic share compared to CAD 163 million or CAD 0.32 per basic share for the same quarter ended September 30, 2014. Net interest income was CAD 285 million compared to CAD 303 million for the same quarter ended September 30, 2014. For the nine months, profit attributable to common shareholder was CAD 452 million or CAD 0.91 per basic share compared to CAD 495 million or CAD 0.99 per basic share for the same period ended September 30, 2014. Net interest income was CAD 861 million compared to CAD 917 million for the same period ended September 30, 2014.

HSBC Bank Canada Announces the Launch of Two Renminbi Denominated Term Deposit Accounts

HSBC Bank Canada (HSBC) announced the launch of two Renminbi (RMB)-denominated term deposit accounts for globally-minded Canadian businesses and individual savers, becoming the first major financial institution in Canada to enable businesses and individuals to invest locally growing currencies. Over the past decade, the Chinese currency has gone through an extraordinarily rapid evolution, emerging as a major player in trade financing, payments, and international foreign exchange markets. Now, the Chinese currency is starting to make its way into yet another sphere: a serious option for clients globally looking to diversify their currency holdings. RMB Term Deposit Account for Canadian businesses: SWIFT research shows that, in March 2015, over 10% of all direct payments between Canada and China/Hong Kong were denominated in RMB, compared to 3.9% two years ago - an increase of +156%. RMB term deposits are available to new and existing commercial clients who hold an account with HSBC. For example, clients who already maintain RMB reserves for business purposes will now be able to benefit from a new source of interest on their RMB balances. The account is available in terms from 30 days to one year, is non-redeemable, and interest will be paid at maturity. RMB term deposits are not eligible for deposit insurance coverage by the Canada Deposit Insurance Corporation. RMB Term Deposit Account for individual Canadians: Complementing HSBC's existing RMB Savings Account for retail clients, the new RMB Term Deposit Account will give Canadians a RMB savings option that may offer a higher rate of interest than a savings account alone.

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