HSBC celebrates 125 years of banking in Sri Lanka

HSBC Sri Lanka celebrated a milestone 125 years of banking in the country on 1 July, having commenced its operations in the country in 1892, just 27 years after its first offices were established in Hong Kong and Shanghai.

A special ceremony to mark the 125th year anniversary was held on 3 July with the unveiling of a commemorative plaque at its heritage head office building in Fort by Head of International and Head of Strategy and Planning, HSBC Asia Pacific Matthew Lobner and HSBC Sri Lanka and Maldives Chief Executive Officer Mark Prothero together with senior management and employees of the bank. 

HSBC’s main head office building, built in 1922, remains a proud testament to HSBC’s 125-year presence in the country and commitment to Sri Lanka. Following a complete renovation project that lasted over two years, the building is the first of its age in the country to achieve a LEED GOLD rating for energy efficiency. Ninety-eight percent of the structural elements of the building were retained and the carbon footprint was reduced by 20%, including a 40% water saving and 26% energy saving.

Furthermore, clients were invited to share in the celebrations at a special event held at the Galle Face Hotel on 3 July.

Speaking at the event, Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy commented: “I wish to congratulate HSBC on the 125th anniversary of its contribution to Sri Lanka’s development.  It is the largest foreign bank in the Island. HSBC has played a key role in bridging financial intermediation requirements of the economy. More importantly, its global and regional expertise has been useful in communicating Sri Lanka’s potential to the investor communities, searching new markets for exports and introducing modern banking products for local customers.”

“The financial sector of the country has a key role to play when the economy is moving to a higher growth trajectory. I am confident that HSBC’s global footprint makes it well-placed to promote financial sector innovation which is imperative in meeting the demands of a rapidly modernising economy. I wish HSBC continued success in all its future endeavours,” he added.

Prothero stated: “For 125 years, HSBC has grown together with Sri Lanka and as Sri Lankan companies become globally successful, HSBC will continue to be a committed banking partner in serving our customers in and out of the country. We thank all our customers and our alumni who have supported us through this long journey.”

HSBC has been a true advocate of supporting the community through its Corporate Sustainability initiatives and programs in the country. The bank has joined together with many partners to empower and uplift local communities in the spheres of education, environment and cultural heritage in the country, and on its 125th year the bank will further extend its support with its latest pillar - health.

Prothero revealed: “We are delighted to launch our latest pillar in corporate sustainability that places importance on health and medical research mainly focusing on developing a Safe Drinking Water Supply System for disadvantaged communities in Chronic Kidney Disease affected areas in the Anuradhapura District.”

He added: “We believe that a healthy population is key to the economic success of the country and HSBC will continue to support communities in tackling these critical health issues in the future and help Sri Lanka achieve its ambitions in our 125th year in Sri Lanka.”

HSBC is the leading foreign bank in the country with a local network of 14 branches, strategically located in key cities and business hubs supporting the country and its economy in all aspects through its Commercial Banking, Retail Banking and Wealth Management and Global Banking and Markets businesses. HSBC was also the first foreign bank to open a branch in Jaffna after the end of the civil war in 2009, which has helped to connect customers globally through its international network.

Such success has been recognised by the market and customers through the several awards the bank has won over the years. A few of the most recent awards the bank has won are Best International Bank by Asiamoney in 2017, Best Foreign Bank by Finance Asia in 2017, International Retail Bank of the year by Asian Banking & Finance in 2017, Best Sub Custodian in Sri Lanka by The Asset Triple A Asset Serving, Fund Management and Investor Awards 2017 and Asia Responsible Entrepreneurship Awards 2017. HSBC Sri Lanka was also the only corporate entity to be recognised by the Ministry of Sustainable Energy and Wildlife for conservation of Horton Plains and Peak Wilderness.