HSBC in Bermuda

Our services

HSBC Bermuda is a leading provider of financial services in Bermuda, serving individuals, institutions, and corporations locally and globally.

Through our Wealth and Personal Banking, Wholesale Banking and Global Banking & Markets businesses, we are a leading provider of retail, investment, custody, insurance and fund administration products and services to international and local clients.

Our headquarters

37 Front Street
Hamilton
HM11, Bermuda

Our CEO

Gregory Garnier

Our history in Bermuda

Bank of Bermuda Limited was founded in 1889 and acquired by HSBC (and renamed HSBC Bank Bermuda Limited) in 2004.

HSBC Bank Bermuda Limited (the Bank) remains incorporated in Bermuda, and is licensed and regulated to conduct Banking and Investment Business by the Bermuda Monetary Authority. It is wholly owned by HSBC Bank plc. When Bank of Bermuda de-listed from the Bermuda Stock Exchange (BSX) in 2004, HSBC Holdings took a secondary listing on the BSX, which remains in place.

The Bank, headquartered at 37 Front Street Hamilton, operates out of three branches. The bank provides a full range of banking and asset management services to retail and corporate clients and differentiates itself in the Bermuda market through its ability to connect clients internationally through HSBC’s global network. The Bank is rated A- by S&P and, at end 2023, held approximately 55 per cent of Bermuda’s total deposits.

Financial information

2024

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 9 October 2024 English PDF 1.25 MB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2024 English PDF 247.93 KB

2023

Consolidated Financial Statements English PDF 3.51 MB

Capital and Risk Management Final Pillar 3 Disclosures at 31 December 2023 English PDF 238.40 KB

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 11 September 2023 English PDF 1.02 MB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2023 English PDF 212.71 KB

2022

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 28 July 2022 English PDF 878.01 KB

Consolidated Financial Statements English PDF 3.15 MB

Capital and Risk Management Final Pillar 3 Disclosures at 31 December 2022 English PDF 229.64 KB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2022 English PDF 330.17 KB

2021

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 28 July 2021 English PDF 786.39 KB

Consolidated Financial Statements English PDF 3.16 MB

Capital and Risk Management Final Pillar 3 Disclosures at 31 December 2021 English PDF 233.94 KB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2021 English PDF 195.26 KB

2020

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 30 November 2020 English PDF 777.59 KB

Consolidated Financial Statements English PDF 3.17 MB

Capital and Risk Management Final Pillar 3 Disclosures at 31 December 2020 English PDF 224.39 KB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2020 English PDF 364.47 KB

2019

Capital and Risk Management Final Pillar 3 Disclosures at 31 December 2019 English PDF 397.39 KB

Consolidated Financial Statements English PDF 3.27 MB

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 25 November 2019 English PDF 778.99 KB

Capital and Risk Management Interim Pillar 3 Disclosures at 30 June 2019 English PDF 363.96 KB

Standard & Poor’s review of HSBC Bank Bermuda Ltd - 19 February 2019 English PDF 279.09 KB

HSBC Group history timeline

1865

2024

Hong Kong harbour, Chinese artist, early 1860s

Staff in Fuzhou, China, 1887

Portrait of Thomas Jackson, around 1890

Chinese railway bond certificate, 1907

Staff in military uniform, First World War

Hong Kong building, 1965

Prison camp diary of HSBC staff member Max Haymes, 1943

Hong Kong garment factory, around 1950

Persian banknote, early 20th century

UK cash machine, around 1970

HSBC office, New York, 1999

HSBC lion, London, present day

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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles.

By 1875 HSBC was present in seven countries across Asia, Europe and North America. It financed the export of tea and silk from China, cotton and jute from India, sugar from the Philippines and rice and silk from Vietnam.

By 1900, after strong growth under Chief Manager Thomas Jackson, the bank had expanded into 16 countries and was financing trade across the world. Bullion, exchange and merchant banking were important features of the bank’s business.

In the early 20th century, HSBC widened the scope of its activities in Asia. It issued loans to national governments to finance modernisation and infrastructure projects such as railway building.

The First World War brought disruption and dislocation to many businesses. By the 1920s, however, Asia was beginning to prosper again as new industries developed and trade in commodities such as rubber and tin soared.

The 1930s brought recession and turmoil to many markets. Nonetheless, HSBC asked architects Palmer and Turner to design a new head office in Hong Kong: “Please build us the best bank in the world.” The cutting-edge art deco building opened in 1935.

The bank faced one of its most challenging times during the Second World War. Staff in Asia showed huge courage in the face of adversity. Many became prisoners of war. Only the London, Indian and US branches remained in full operation.

At the end of the war, HSBC took on a key role in the reconstruction of the Hong Kong economy. Its support helped established manufacturers as well as newcomers to Hong Kong grow their business.

By the 1970s the bank had expanded through acquisition. HSBC bought Mercantile Bank and The British Bank of the Middle East in 1959. In 1972 it formed a merchant banking arm, extending its range of services.

In the 1980s HSBC bought Marine Midland Bank in the US. In 1992, the newly created HSBC Holdings plc made a recommended offer for full ownership of the UK’s Midland Bank. Following the acquisition, HSBC moved its headquarters to London.

In 1998, the bank announced it would adopt a unified brand, using HSBC and the hexagon symbol everywhere it operated.

Our purpose – Opening up a world of opportunity – explains why we exist. We’re here to use our unique expertise, capabilities, breadth and perspectives, opening up a world of opportunity for our customers.

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