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    Home > Finance > HSBC expands startup-focused group in Singapore as part of global push
    Finance

    HSBC expands startup-focused group in Singapore as part of global push

    Published by Global Banking & Finance Review®

    Posted on October 29, 2025

    2 min read

    Last updated: January 21, 2026

    HSBC expands startup-focused group in Singapore as part of global push - Finance news and analysis from Global Banking & Finance Review
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    Tags:innovationtechnologyventure capitalfinancial servicesStartups

    Quick Summary

    HSBC expands its innovation banking in Singapore with a $1.5 billion commitment, aiming to support startups globally, especially in tech and healthcare.

    Table of Contents

    • HSBC's Expansion into Singapore's Startup Ecosystem
    • Growth of Innovation Banking Division
    • Support for Cash-Burning Businesses
    • Performance Metrics and Client Growth

    HSBC Boosts Innovation Banking in Singapore with $1.5 Billion Commitment

    HSBC's Expansion into Singapore's Startup Ecosystem

    NEW YORK (Reuters) -HSBC has expanded its innovation banking business to Singapore, pledging to allocate $1.5 billion in the city-state as part of a global push to lend to startup companies, the bank said on Wednesday.

    Growth of Innovation Banking Division

    The group in HSBC's commercial bank was established in 2023 after it hired dozens of employees from failed Silicon Valley Bank. It has since grown to include more than 900 bankers serving clients in the United States, Britain, Australia, New Zealand, Israel, Europe, India, Hong Kong and mainland China.

    Support for Cash-Burning Businesses

    "We have our own credit policy, our own credit approach to support the needs of these cash-burning businesses" in sectors such as technology and healthcare, Dave Sabow, HSBC's global head of innovation banking, told Reuters in an interview.

    Performance Metrics and Client Growth

    "We're working with the most liquid part of the global economy, so you think about the capital being raised in technology, when you think about the IPOs that are happening... our balance sheet is a great place, a stable place for you to park that capital."

    In the first half of this year, HSBC's innovation banking business grew its active clients by almost 60%, the bank said, without providing specific figures. Deposits rose by about 50% and loan commitments by roughly 25%, it added.

    (Reporting by Lananh Nguyen in New York; Editing by Jamie Freed)

    Key Takeaways

    • •HSBC commits $1.5 billion to Singapore's startup ecosystem.
    • •Expansion part of HSBC's global innovation banking strategy.
    • •HSBC's innovation banking division established in 2023.
    • •Focus on supporting cash-burning tech and healthcare businesses.
    • •Significant growth in clients, deposits, and loan commitments.

    Frequently Asked Questions about HSBC expands startup-focused group in Singapore as part of global push

    1What is innovation banking?

    Innovation banking refers to banking services that focus on providing financial support to startups and technology-driven companies, often involving tailored credit policies and investment strategies.

    2What is venture capital?

    Venture capital is a form of private equity financing that is provided to startups and small businesses with long-term growth potential in exchange for equity, or ownership stake.

    3What is a startup?

    A startup is a newly established business, typically in the early stages of development, often focused on innovative products or services and aiming for rapid growth.

    4What are cash-burning businesses?

    Cash-burning businesses are companies that spend more cash than they generate, often during their growth phase, as they invest heavily in product development and market expansion.

    5What is a credit policy?

    A credit policy is a set of guidelines that a financial institution uses to determine the creditworthiness of potential borrowers and the terms of loans.

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