Down memory lane: 5 reasons why HSBC holds a special place in Vizag

HSBC in Vizag has been a leading MNC in the city and is also a significant economic booster for its people. From offering highly sophisticated jobs to acting as a market area for peddlers and hawkers nearby, this decades-old economic temple has never failed to provide for everyone who seized an opportunity to seek shelter. HSBC, officially known as The Hongkong and Shanghai Banking Corporation Limited, is the largest bank in Hong Kong and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. This banking mammoth has been in India since 1987 and has been a significant contributor to the development of the banking industry.

HSBC, in an offshoring process where it works to gain economies of scale, started out in the humble city of Visakhapatnam and has since then been through the thick and thin of the city. For several reasons this banking giant has always got dearer to the city and here are the 5 reasons why HSBC is not just any other MNC in Vizag:

#1 Boost to the Economy

Competing against the biggies, HSBC ventured out into this port city. With the setting up of IT and ITES, HSBC’s contribution in creating jobs was significant. Once it entered Vizag, HSBC welcomed other big players and MNCs too. This has been a major booster to the employment sector in the city. The establishment of HSBC also paved way for graduates to settle down in their respective hometowns.

#2 HSBC moves Vizag forward

With employment came a better standard of living. HSBC has played an integral role in enhancing the sophistication of Vizag. Today, we see Vizagites walk in formal clothes around the city with grace and pride. It has opened up opportunities for several others to opt for shifts at the company. For so many ladies, it was an opportunity to break free of the 5 PM curfew.

#3 Adding to the city’s aesthetic appeal

A quick walk through the city will inevitably land you in the best areas to take home memories of Vizag city. HSBC, standing tall at the city center, adds to the aesthetic appeal of the building. It’s perfectly situated at Siripuram junction, adjacent to Dutt Island. Don’t mistake this for the Manhattan, you are still in Vizag.

#4 Street Food Hotspot

The street foods in Vizag have never failed to please the employees at HSBC and several other visitors. HSBC has been a banyan tree for several small-scale food stalls around it. All credits to the HSBC building, the Dahi samosa and Pani Puri opposite the HSBC building have been a craving point for many people in Vizag.

#5 Spread its wings

The HSBC will also have a special place for extending its arm in several parts of the Vizag city. Starting out as one big center, today HSBC is located in three areas in and around Vizag.