HSBC Singapore plans to have 40% of women in its most senior positions by 2022, up from its 30% currently, and 50% of managerial positions.
HSBC Singapore chief executive Tony Cripps said that having a diverse workplace is a priority for the bank, and that it will develop a structural framework that seeks to remove barriers and encourage equal opportunity.
"Having a diverse workplace is an absolute priority for HSBC Singapore: It lifts performance by embracing different perspectives and it's simply the right thing to do for our people. Today's announcement is all about working towards this commitment."
Having a diverse workplace is an absolute priority for HSBC Singapore"
Brandon Coate, head of human resources at HSBC Singapore, added: "We've always aimed to be fair in our hiring and promotion into senior positions, which will continue to be merit-based. But having a gender target and making this commitment public holds our management team more accountable.
"It will ensure we are ever-focused on widening and deepening our female talent pool to drive diversity through every level of our organisation."
Besides launching programmes to boost group-led female leadership development initiatives, HSBC last year made flexible working programmes a priority.
HSBC joins global banking peers such as Citi and Standard Chartered in committing to a greater female representation ratio in their senior ranks.