With the opening of the new Branch in Luxembourg, HSBC is expanding its capabilities.

The new Branch is initially offering Payments and Cash Management (PCM) services to global and regional corporate and institutional clients. “More than 50 per cent of the companies listed on the CAC40, DAX30, MIB30, and S&P500 are active in Luxembourg, and a growing number of companies from all parts of the world are establishing operations in Luxembourg” comments Nigel H. Fielding, Country Chief Executive Officer.

The Branch now brings to its customers HSBC’s global standard core banking platform  which includes features such as real time detailed account reporting and automated payments through HSBC’s internet banking platform, HSBCnet. Clients also benefit from dedicated Luxembourg based relationship management and access to HSBC’s global network.

HSBC plans to expand the Luxembourg Branch offering in the coming months to include Global Liquidity Solutions, Single Euro Payments Area (SEPA) processing, and HSBC Connect.

Koen Quintens, Head of Banking & PCM Luxembourg, says: “This development in our corporate banking capabilities demonstrates our commitment to enhancing services for our clients.”