KUALA LUMPUR (March 7): HSBC Bank Malaysia Bhd has invested US$250 million (approximately RM1.04 billion) to open its new head office in Menara IQ within the Tun Razak Exchange (TRX) along Jalan Tun Razak here in a move that strongly demonstrates the financial services provider's unwavering commitment to Malaysia and its customers in the country.

HSBC Bank Malaysia chief executive officer (CEO) Stuart Milne said about 5,000 employees will be based in the new head office in the TRX.

Milne said HSBC Bank Malaysia's flagship branch along Leboh Ampang here will also be relocated to Menara IQ.

“The move of our head office to Menara IQ in the TRX is a strong demonstration of unwavering commitment to Malaysia and our customers here.

“Malaysia remains central to HSBC’s strategy and is especially crucial to the group’s growth plans across the ASEAN region, an area that represents significant growth potential,” he noted.

Milne said HSBC Bank Malaysia will continue to reinforce its commitment in Malaysia through the bank’s ongoing investments.

These include the US$58 million that has been invested in building the digital capacity of the bank’s branches since 2018, according to him.

“HSBC Amanah, the bank’s islamic banking subsidiary, is also focused on transforming into a sustainable banking entity. The initiative includes an aim of having 51% of its financing assets be compliant with the triple bottom line principles of 'prosperity, people and [the] planet',” he added.