New York/Singapore, October 29, 2025 – HSBC Holdings (HSBA.L) has expanded its innovation banking business to Singapore, pledging to allocate $1.5 billion to support startup companies in the city-state as part of its global push to serve high-growth businesses.

The initiative, which began in 2023, was launched after HSBC recruited dozens of employees from the collapsed Silicon Valley Bank. Since then, the global group has grown to include over 900 bankers serving clients across the United States, United Kingdom, Australia, New Zealand, Israel, Europe, India, Hong Kong, and mainland China.

Supporting Startups in Key Sectors

Dave Sabow, HSBC’s global head of innovation banking, told Reuters that the bank has developed its own credit policies and approach to meet the needs of startups in technology, healthcare, and other high-growth sectors. “We’re working with the most liquid part of the global economy. Our balance sheet is a stable place for capital, especially for companies raising funds or preparing for IPOs,” Sabow said.

HSBC’s innovation banking team focuses on providing loans, deposits, and financial advisory services tailored to companies that are scaling rapidly and often operating in cash-intensive environments.

Growth and Market Performance

In the first half of 2025, HSBC reported that its innovation banking business grew its active clients by nearly 60%, though specific figures were not disclosed. Deposits at the division rose by approximately 50%, while loan commitments increased by about 25%, highlighting robust demand from the startup ecosystem.

The expansion into Singapore positions HSBC to leverage the city-state’s strategic role in Southeast Asia as a hub for technology, fintech, and healthcare startups. Analysts note that the move aligns with HSBC’s broader strategy of global startup financing and supporting companies that are preparing for public listings or international expansion.

Global Context

The bank’s innovation banking growth comes amid increased interest from global investors in startups and high-growth firms. HSBC’s ability to provide capital, advisory, and credit facilities helps these companies scale while maintaining financial stability during periods of rapid growth and market volatility.