HSBC Holdings PLC said that the increase in visa costs for foreign employees in the US is “manageable” for the lender, because it has fewer employees there than some of his colleagues or large technology companies.
“We don’t have a huge amount of visa holders,” Michael Roberts, who leads the business and institutional banking department of the British lender, told Bloomberg Television in an interview on Monday. “It is manageable for us.” It can be a “much bigger problem” for other financial service providers and technology companies that he has added.
The Trump administration has increased the application costs for H-1B-VISA to $ 100,000 as part of the efforts to protect US jobs and to strengthen national security. The move has fueled chaos and alarm at some worldwide companies, especially in the technology sector, which depend on the H-1B visa program for bringing skilled employees from abroad to the US. Financing companies and consultancy firms also use the facility.
Companies with the largest number of H-1B-VISA are Amazon.com Inc., Tata Consultancy Services Ltd., Microsoft Corp., Meta Platforms Inc. and Apple Inc., according to the US government. JPMorgan Chase & Co. and Walmart Inc. are in 8th and 9th place, according to data from the US government.
“It was unfortunate because the original policy was unclear whether it was retroactive or prospective,” said Roberts. “Now they have clarified.” He said that HSBC, just like others, also had a flurry of activity at the weekend.
More stories like these are available on Bloomberg.com
Published on September 22, 2025
#Roberts #HSBC #rise #American #visa #costs #manageable