Following a strategic review, HSBC Bank (Cayman) Limited, an indirect wholly owned subsidiary of HSBC Holdings plc, entered into an agreement to sell parts of its corporate and retail banking business in the Cayman Islands to Butterfield Bank (Cayman) Limited.
HSBC Bank (Cayman) Limited has Category A banking license number 84016 issued by the Cayman Islands Monetary Authority. This type of license allows HSBC Bank (Cayman) Limited to conduct banking and trustee operations both in the domestic and international markets and provide services to residents and non-residents.
There is no deposit guarantee scheme in the Cayman Islands: in the case of HSBC Bank (Cayman) Limited failure its depositors will not get any compensation.
HSBC Bank (Cayman) Limited is a member of HSBC (United Kingdom).
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
There is no deposit guarantee scheme in the Cayman Islands.
In the case of HSBC Bank (Cayman) Limited failure its depositors will not be paid out any compensation.
The following banks operating under HSBC Bank brand name has been recently closed down: