LONDON, Feb 15 (Reuters) - HSBC published afull-page letter in British newspapers on Sunday to offer its"sincerest apologies" for past practices at its Swiss privatebank, which has been accused of helping clients to evade tax.
Europe's biggest bank admitted failings in compliance andcontrols in its Swiss operation after media reports that said ithad helped wealthy customers to conceal millions of dollars ofassets up to 2007.
Britain's Treasury Committee has called the bank's chairmanand chief executive to give evidence on the matter on Feb. 25,according to a memo seen by Reuters on Friday.
The bank's letter published in a number of newspapers onSunday was signed by Chief Executive Stuart Gulliver and saidthat the reports had been a "painful experience" for itscustomers, shareholders and employees.
"We must show we understand that the societies we serveexpect more from us," Gulliver wrote. "We therefore offer oursincerest apologies."
The bank said that the vast majority of the 140 people namedin reports as customers of its Swiss bank had left and that ithas since established much tighter who it accepts as customers.
"We have absolutely no appetite to do business with clientswho are evading their taxes or who fail to meet our financialcrime compliance standards," he said.
The fallout from the claims caused the bank's former bossStephen Green to step down at financial services lobby groupTheCityUK on Saturday. (Reporting by Paul Sandle; Editing by David Goodman)
HSBC Holdings (HSBA)