HSBC has issued a public apology to its customers over allegations that it helped wealthy clients dodge taxes.
The bank published a full-page advert containing an apology through several newspapers.
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The advert, which reproduces an open letter signed by CEO Stuart Gulliver and addressed to the bank’s customers and staff, said that the media coverage in the last week had been a painful experience.
The bank said it has no appetite to deal with clients who evade taxes or who fail to meet financial crime compliance standards.
Gulliver added that he wanted to promise customers that its Swiss private bank had been completely overhauled.
The letter said: "We therefore offer our sincerest apologies. The media focus has been on historical events that show the standards to which we operate today were not universally in place in our Swiss operations eight years ago.
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By GlobalData"We must put the recent media coverage into context. A former employee of the Swiss private bank stole data more than eight years ago.
"Major UK media outlets have focused on approximately 140 names included in the stolen data. Many of the people mentioned have been named simply because they are well-known individuals. The vast majority of these 140 people are no longer clients.
"The media has been mentioning a number of 100,000 clients. At its peak, the Swiss private bank had about 30,000 accounts," it added.
