HSBC’s mass-affluent banking unit expects to maintain aggressive growth in the Philippines over the medium term, even as wealthy clients adopt a more cautious stance following the escalation of the United States-Israel-Iran conflict.

Pramoth Rajendran, HSBC Philippines head of international wealth and premier banking, said in a media roundtable that the lender remains confident in the domestic market's potential despite regional geopolitical volatility.

"We believe for the customers in the Philippines, within our target segments, we’ve got enough room to grow. There is enough potential there,” Rajendran told reporters on Tuesday.

Overall, the local market has around one million affluent customers, according to Rajendran. While the total figure for HSBC’s market in the Philippines, he said, the lender is targeting to double its client base over the next three to five years.

“We have very ambitious growth plans, and being the only international retail bank in the Philippines, we are looking to grow aggressively within our target segments,” Rajendran said.

HSBC Premier clients are those with about ₱3 million in total relationship balance (TRB) or a monthly income of roughly ₱300,000.

“What we are seeing is also on the back of the premier relaunch. Even before the relaunch, our service levels are one of the best in the market,” Rajendran added. “To top it up with the tailwinds we are getting from the premier relaunch, we are starting to see more and more growth.”

HSBC prides itself on being the “only truly universal international bank in the Philippines,” catering to both corporate borrowers and individual clients.

HSBC offers mass-affluent customers “redefined” health and travel perks, in addition to cross-border financial needs and advice, through digital servicing.

According to HSBC, the refresh aims to help clients safeguard personal and family priorities, address health needs, grow wealth through guided planning and investment access, and manage their finances more efficiently.

In particular, HSBC Premier includes healthcare and protection services as part of its premium banking offering, such as medical concierge services, executive health screenings, access to specialists and diagnostics, and 24-hour emergency ambulance assistance.

It also includes Allianz Well health insurance with in-patient hospitalization coverage of up to ₱100 million annually, providing access to medical facilities locally and abroad and supported by a provider network that allows cashless claims settlement.

“We are also possibly and arguably the only bank currently being able to provide a whole suite of exclusive access and privileged access to the hospitals and medical centers,” Rajendran said.

HSBC Premier also offers international travel perks, including airport lounge access in more than 1,800 cities, airport transfers, and meet-and-greet services. It also provides travel insurance of up to $100,000 (around ₱5.9 million), along with partner offers on flights and hotels.

HSBC offers a 0.99 percent foreign exchange rate on cross-border transactions, along with bonus points on overseas purchases and duty-free discounts.

HSBC also provides access to multicurrency investment and wealth solutions, covering both domestic investments and offshore diversification through the bank’s international wealth hubs and global private banking platform.