We are winding down our operations in Brunei, which comprise retail, commercial and global banking services.
This is part of the Group’s global review of businesses and represents a significant step in HSBC's stated goal to optimise its global network and reduce complexity, outlined during the HSBC Investor Update on 9 June 2015.
We regret the inconvenience caused and are committed to ensuring a smooth transition for you during this period.
What is the timeline of the wind down?
We are unable to provide an accurate timeline at this stage.
However, communication will be made with customers staggered over a period of time and we will work closely with them.
What's the Group's strategy?
We have a clear strategy that is articulated in the Investor Update, June 9, 2015 (available on the Group website). All operations in Brunei were reviewed as part of this global initiative.
What will happen to HSBC's customers?
We will continue to service our existing customers until further notice and will endeavour to minimise inconvenience to existing banking customers. We will do all that we can to assist customers in transferring to another bank of their choice.
Existing contracts will continue to be in effect until further notice.
However, we will no longer be accepting new customers or new business.
What happens to my deposits? Are they safe?
Your deposits are safe.
However, we will notify you to transfer them to an alternative bank account of your choice in due course.
What happens to my loans/facilities?
Upon notification, customers will be required to move all their accounts and facilities.
The Bank will make every effort to support impacted customers through a smooth transition process.
We encourage you to speak to other banks to find the best solution for you.
What action do I need to take now? / What happens next?
Customer letters will be sent to all customers, accompanied by follow up phone calls, staggered over a period of time. You may wish to start looking for another bank to take over your account(s) and facilities.
I have HSBC accounts/facilities in other countries – what happens to these accounts/facilities?
The wind down of our operations is only applicable to HSBC Brunei.
Please liaise with the specific countries for more information.
Are all your banking channels e.g. ATMs, PIB, Phone banking, etc still available?
All banking channels remain operational for the time being but are subject to review.
Are your branches still open? / Do I have still have access to your call center?
All branches and call centres are fully operational until further notice.