Former Canadian subsidiary of multinational bank HSBC
This article is about the former bank in Canada. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.
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HSBC Bank Canada
Formerly
Hongkong Bank of Canada
Company type
Former subsidiary
Industry
Banking
Founded
July 1, 1981; 42 years ago (1981-07-01)
Defunct
March 31, 2024; 31 days ago (2024-03-31)
Fate
Acquired by the Royal Bank of Canada (RBC)
Headquarters
885 West Georgia Street Vancouver, British Columbia V6C 3E9
Key people
Samuel Minzberg (chairman)
Linda Seymour (president and CEO)
Products
Financial services
Revenue
CA$2.22billion (2021)[1]
Net income
$717 million (2021)[1]
AUM
$224 million (2021)[1]
Total assets
$119.85 billion (2021)[1]
Total equity
$6.88 billion (2021)[1]
Owner
HSBC (1981–2024)
Royal Bank of Canada (2024)
Number of employees
5,500+ (FTE, 2020)
Website
www.hsbc.ca
HSBC Bank Canada (French: Banque HSBC Canada), formerly the Hongkong Bank of Canada (HBC), was a British-Canadian chartered bank and the former Canadian subsidiary of British multinational banking and financial services company HSBC.
It was the seventh largest bank in Canada, with offices in every province except Prince Edward Island, and was the largest foreign-owned bank in the country. The corporate headquarters were located at the HSBC Canada Building in downtown Vancouver, British Columbia.
On March 28, 2024, the Royal Bank of Canada closed their acquisition of HSBC Canada.[2][3] Its Institution Number (or bank number) was 016.
^ abcde"2021 Annual Report and Accounts". All reporting. HSBC Bank Canada. Retrieved March 13, 2022.
^"HSBC Sale Announcement - HSBC Canada". www.hsbc.ca. Retrieved March 29, 2024.
^"RBC completes acquisition of HSBC Bank Canada". Cision Canada. Retrieved April 1, 2024.
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Global Information
CA$2.22 billion (2021)[1]