26 March 2020

COVID-19: HSBC Bank Canada Announces $500,000 donation

In response to the rapidly-evolving COVID-19 outbreak, HSBC Bank Canada is announcing a donation of $500,000 to Food Banks Canada, Breakfast Club of Canada and United Way to assist the most vulnerable members of society. This donation forms part of a global US$25 million commitment by HSBC Holdings plc to support the international medical response, protect vulnerable people and ensure food security around the world.

Funding will support food security in vulnerable communities, such as bulk purchasing and distribution of food, community agencies providing grants for families facing food insecurity, as well as access to essential social services for those who need it most.

Sandra Stuart, President and CEO, HSBC Bank Canada said: “Throughout the country, we have seen Canadians come together to face this public health emergency. This show of solidarity has made us all proud to call Canada home. We want to do our part, and the most impactful actions we can take are to support our customers, employees and communities in this unprecedented time.”

We’re here for you

We’re providing flexibility for our customers in this unprecedented circumstance. We are committed to working with all of our customers on a case-by-case basis to provide flexible solutions.

For personal customers this may include up to a six-month mortgage payment deferral and help on other credit products. Since our call volumes are currently high, as each case is unique, we encourage customers to complete the Financial Relief Request form available on our website.

HSBC supports many businesses that are the backbone of our economy and earlier this year we began proactively contacting customers that might need additional assistance in managing their working capital cycle or supply chain and other risks or might need flexibility in managing their loans. And since we know some of our manufacturing customers may want to retool their production lines to manufacture essential items we stand ready to help support their efforts.

HSBC is also participating in the Government of Canada’s Business Credit Availability Program, and will help current customers access this program for additional credit needs during this difficult period.

Working together with our communities

Like many other businesses, our priority is the safety of our employees, customers, and wider communities. In order to reduce the risk and play our part in limiting the spread and impact of this public health crisis, many of our employees are working from home and we have reduced hours at our branches to continue to serve customers while minimizing social interactions. While we may be making some temporary changes in the way we interact, our goal is to maintain our high service standards.

“We are in this together. We want our fellow Canadians to know that our more than 5,700 employees across Canada are there for them,” concluded Ms. Stuart.

Over the medium-term we will assess the impact of this outbreak, ensuring our ongoing philanthropic activities consider how we address the most pressing issues society faces, including a swift recovery and ongoing support to the most vulnerable in our communities.