HSBC refocuses on corporate banking in Bangladesh

Staff reporter :

HSBC has announced plans to gradually wind down its retail banking operations in Bangladesh starting in the second half of 2025. The decision follows a strategic review of its retail business within the country, aligned with the global HSBC Group’s focus on streamlining operations and concentrating on high-growth markets.

In a statement released on Wednesday, HSBC Bangladesh confirmed that it will immediately cease onboarding new retail customers and will initiate a phased transition for its existing individual clients. The bank assured that the process will be carefully managed to minimise disruption.

Despite its withdrawal from the retail segment, HSBC will maintain its Corporate and Institutional Banking (CIB) operations in Bangladesh. “We recognise the importance of Bangladesh to our corporate and institutional clients and remain committed to supporting two-way trade and investment flows,” the statement added.

This move forms part of HSBC’s broader global strategy, announced in October 2024, to refocus resources on markets and business areas with stronger long-term growth potential. While HSBC’s exit marks the end of its personal banking services in Bangladesh, the bank emphasises its continued commitment to supporting business clients in the country.