To find out more about adjusting the legal entity structure in the above mentioned countries read the announcement on HSBC France’s website - available in French only.
On 1 August 2018, HSBC Bank Polska SA became a direct subsidiary of HSBC France. This change of ownership will be followed by a proposed transfer via merger of the business of HSBC Bank Polska SA to a newly formed Polish branch of HSBC France, which is currently expected to be effective in early 2019, subject to obtaining the necessary regulatory approvals.
This structural change will further support HSBC’s commitment to the Polish market and to our clients. From a credit perspective, this change will enable us to develop our ability to offer larger financing facilities to our clients in Poland. From a deposit perspective, our clients will be serviced by a branch of HSBC France, a financial institution with a strong credit rating.
As a result of these proposed changes, it is expected that in early 2019, the new Polish branch of HSBC France will replace HSBC Polska as your contractual product and service provider and will assume responsibility for the continued provision of products and services in accordance with the terms and conditions of your existing contract(s). Customers will therefore continue to benefit from the same level of service.
HSBC France is headquartered in Paris and is supervised by both the European Central Bank (ECB), as part of the Single Supervisory Mechanism (SSM), and the French Prudential Supervisory and Resolution Authority (ACPR) as the French national competent authority. The French Financial Markets Authority (AMF) also supervises HSBC France for activities involving financial instruments or executed on financial markets. The proposed new Polish branch of HSBC France will also be subject to the local supervision of the Komisja Nadzoru Finansowego.
HSBC France is the main continental European hub for HSBC with more than 8,000 employees, a strong balance sheet, extensive product capabilities and strong credit ratings (Moody’s: Aa3, Fitch: AA- and Standard & Poors: AA-, as at 6 August 2018).