Bengaluru, Karnataka, India
- With 8,300 sq. ft., HSBC India relocates its Basavanagudi branch, Bengaluru, to Whitefield, a significant milestone
- The wealth opportunity is represented by one of the highest per capita incomes in the country
HSBC India announced the unveiling of its largest branch office (8,300 sq. ft.) in the country in Whitefield, Bengaluru, a strategic move to tap into the vibrant economic landscape and growing affluence, in one of the world’s fastest-growing economies. This marks a significant milestone as HSBC India continues to solidify its strong presence as the leading international bank in the country.
The new branch was inaugurated by Hitendra Dave, CEO, HSBC India and Sandeep Batra, Head, Wealth and Personal Banking, HSBC India. As part of the grand celebration, HSBC India had organized an all-star 3-day event for its customers and employees with an exciting line up of celebrities including Bollywood actor Vaani Kapoor, former Indian cricketer VVS Laxman and stand-up comedian Aiyyo Shraddha.
The launch included Yakshagana performance, a traditional Indian art form; an art exhibition; sitar performance; sand art; history walk; tour of the newly launch branch and the coffee house.
The new branch in the heart of this bustling technology hub will cater to the unique financial needs of the rapidly growing tech community, offering them an extensive international network, breadth of products, bespoke wealth solutions, specialized relationship managers, global private banking expertise, taking care of day-to-day finances and helping them manage, protect and grow their wealth, in addition to offering commercial banking, global banking and markets capabilities.
Whitefield has matured into a key Information Technology (IT) hub led by robust infrastructure, large commercial and residential developments, along with road and metro connectivity. Bengaluru South, which now has easier connectivity to Whitefield, has a per capita income of USD$ 11,305 (Rs. 9,36,983)1, one of the highest in the country and over four times that of India’s per capita income of USD$ 2,610 (Rs 2,16,316)2. Whitefield is also a thriving market for office space, accounting for 24%3 of Bengaluru’s office supply, reaffirming the area’s economic vitality and rising affluence, thus making it a natural choice for HSBC’s expansion.
Sandeep Batra, Head, Wealth and Personal Banking, HSBC India, said, “Entrepreneurialism and innovation are fueling wealth creation in India and at HSBC India, we embrace this spirit by strengthening our presence further. India has the third largest population of tech unicorns globally, and we bank 50% of the top 100 unicorns in the country. Whitefield is the right place for us to set up our ultra-modern luxury branch that will complement HSBC’s leading offerings, world class services and access to international network. We believe that by nurturing and supporting the entrepreneurial endeavors in Whitefield, we can contribute not only to the growth aspirations of individuals and businesses but also to the broader prosperity of India’s evolving economy.”
Situated in Pardhanani Wilshire III building, in the heart of Whitefield, the 8,300 sq.ft digital themed office will have a retail branch, Premier area and back-office for HSBC employees. The branch, with luxurious interior elements and lavish coffee house space, will offer banking transactions, wealth management solutions, international account opening assistance, lending services and ATM.
The branch will operate from Mondays to Saturdays (except 2nd and 4th Saturdays) from 10 pm to 4 pm.