More travellers choosing HSBC account

The number of customers using HSBC Bank Australia’s flagship transaction account, Premier, increased by 60 per cent in 2009 and the bank was able to use the strong growth in deposits to grow its mortgage portfolio by 25 per cent.

The bank’s mortgage book, which stood at $6.6 billion at year end, is fully funded by deposits. HSBC Bank Australia chief executive Paulo Maia said growth in Premier customer numbers was the highest the bank has achieved.

Maia said: “Premier is a unique product with cross-border facilities and multiple country accounts. More and more business people and travellers are becoming aware of the product’s usefulness.”

Source: Banking Day