Sydney: HSBC Bank Australia is setting up a dedicated team to provide global financial services to the Indian diaspora in the country, a bank official said. The new business will offer the banking products of HSBC Australia as well as refer customer enquiries to HSBC India, The Age reported Tuesday.

"Australia has one of the fastest growing Indian communities in the world, numbering some 240,000,so this new service makes commercial sense," Graham Heunis, head of personal financial services for HSBC in Australia, was quoted as saying in a statement. "And non-resident Indians tend to maintain strong banking affiliations with India, so there s a real demand from the Indian community in Australia for access to Indian financial services."