HSBC to close Raffles Place branch on Feb 28
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HSBC Holdings will close its Raffles Place retail branch in Singapore on February 28, shifting focus to affluent clients by opening a wealth centre in the same building. This move reflects a trend among global banks to retreat from traditional retail banking in favor of wealth management. HSBC maintains its commitment to Singapore, with plans to convert branches into wealth centres. The Raffles Place branch, opened in 2018, is part of HSBC's strategy to enhance its consumer and wholesale banking presence in the region.
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Source: Businesstimes News The copyright of this article belongs to the original author/organization.
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