HSBC Philippines eyes expansion, targets doubling retail clients

Business | BANKING Posted on 2026-03-11 01:13:40

MANILA — HSBC Philippines remains optimistic about the expansion of its retail banking business in the country despite uncertainties caused by the ongoing tensions in the Middle East.

During a media briefing in Makati City on Tuesday, Pramoth Rajendran, head of international wealth and premier banking at HSBC Philippines, said the bank aims to double its customer base over the next three to five years.

Rajendran noted that the bank has set ambitious growth targets and intends to strengthen its presence among its key market segments. He emphasized that HSBC remains the only international retail bank operating in the Philippines, giving it opportunities to expand further within the affluent market.

According to Rajendran, the Philippines has around one million affluent or wealthy individuals who could be potential clients for the bank’s premium services.

He explained that HSBC Premier clients typically maintain a total relationship balance of about PHP3 million or earn a monthly salary of around PHP300,000.

Rajendran said the size of this market segment provides strong potential for the bank’s long-term expansion in the country.

As part of its growth strategy, HSBC Philippines has recently revamped its HSBC Premier offering to strengthen its retail banking push.

The upgraded Premier service now includes expanded benefits such as health support, wealth management solutions, travel privileges, and cross-border banking services designed for globally connected clients.

NPO News Team | PNA-PR

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