HSBC Opens
New NRI Rep Office in Fremont, California
NEW YORK, Sep 28, 2007
BUSINESS WIRE
HSBC has opened a Non-Resident Indian (NRI)* representative
office in Fremont, California. The objective is to make banking
transactions more convenient for the NRI community based in California.
This new location, headquartered at 39410 Fremont Blvd, Fremont,
CA 94538, is a representative office of the Hong Kong and Shanghai
Banking Corporation Limited in India (HSBC India).
The dedicated NRI office will facilitate personal financial services
including remittances between India and USA, servicing HSBC India's
NRI customers and serving as a conduit between NRIs and HSBC India
to facilitate banking requirements.
A new banking solution for NRIs has also been announced by the
HSBC Bank USA, N.A. (HSBC USA). This comprehensive solution allows
the NRI community to conduct cross-border banking transactions
and to choose from a variety of tailored deposit, mortgage and
investment products. In addition to helping NRIs better facilitate
their banking transactions in the US and India, the solution also
offers the following benefits:
-- Assistance in account opening with HSBC India while in the
US, and assistance in account opening with HSBC USA, while in
India.
-- FastCheque - Free remittances to HSBC India from the US, at
competitive exchange rates, by USD checks.
-- FastClick - Free remittances from the US to India through
internet banking, whereby customers banking with both HSBC USA
and HSBC India can remit monies to their NRI Accounts held with
HSBC India, in a speedy and convenient manner.
-- Assistance in identifying a wide array of HSBC USA personal
and commercial products.
"Today, there are 22 million Non-Resident Indians around
the world who expect, and indeed demand, global banking expertise
and the highest levels of service," said Manasije Mishra,
Head of NRI Services, HSBC India. "Between the US and India,
HSBC currently serves more than 160,000 NRI customers and the
new joined-up solution with HSBC USA will make this process even
more seamless."
"We believe in providing an appropriate and market-leading
level of service to all our customers in the US and this new offering
will ensure a seamless banking experience for the NRI community,"
said Brian Gregson, HSBC Senior Vice President, District Executive,
California Region. "HSBC recognizes the specific needs of
our global customers and this solution is designed to exceed those
needs."
For more information on the services offered to the NRI community
in the US, please log on to www.hsbc.co.in/1/2/personal/nri-services.
* A Non-Resident Indian (NRI) is a person of Indian nationality
or Indian origin who is resident outside India. NRIs enjoy certain
benefits bestowed on them by the Indian Government, and can open
specially-designated NRI bank accounts in India.
About HSBC USA
HSBC USA has nearly 450 bank branches throughout the United States,
with about 400 in New York State and a growing network of branches
in New Jersey, Florida and California. The bank also has branches
in Delaware, Washington, D.C., Washington state, Pennsylvania,
and Oregon. It is the principal subsidiary of HSBC USA Inc., an
indirectly-held, wholly-owned subsidiary of HSBC North America
Holdings Inc. HSBC USA Inc. one of the nation's 10 largest bank
holding companies by assets.
About HSBC India
The Hongkong and Shanghai Banking Corporation Limited in India
offers a full range of banking and financial services to over
2.5 million customers through its 47 branches and 170 ATMs across
26 cities. HSBC is one of India's leading financial services groups,
with over 27,000 employees in its banking, investment banking
and capital markets, asset management, insurance broking, software
development and global resourcing operations in the country. It
is custodian to around 50% of the FII invested in India. More
than 5% of India's exports and imports pass through HSBC India's
banking channels. The asset management business in India has over
US$ 4 bn AUM, and HSBC worldwide manages an additional US$ 8 bn
invested in Indian equities. The Bank is at the forefront in arranging
deals for Indian companies investing overseas and foreign investments
into the country. It has a fully enabled and established insurance
advisory of international standards. It is one of the leading
players in domestic and export factoring, and one of the leading
banks for an increasing number of SMEs. With its extensive reach
across Asia, the Americas and Europe, HSBC has the capacity to
offer complete banking and financial solutions to India's burgeoning
economy.
It recently launched HSBC Pragati Finance, a consumer finance
offering, and is already the second largest loan originator in
most of the markets where this product is offered, in a short
period of time.
HSBC's network of branches is located at Ahmedabad, Bangalore,
Chandigarh, Chennai, Coimbatore, Gurgaon, Hyderabad, Indore, Jaipur,
Jodhpur, Kochi, Kolkata, Ludhiana, Lucknow, Mumbai, Mysore, Nagpur,
Noida, New Delhi, Patna, Pune, Raipur, Trivandrum, Thane, Vadodara
and Visakhapatnam.
SOURCE: HSBC
HSBC Bank USA Francine Minadeo, 212-525-8737 francine.v.minadeo@us.hsbc.com