Banking giant HSBC yesterday celebrated ten years in Bermuda with a massive $500,000 donation to education.

HSBC donated $250,000 to the Reading Clinic and a further $250,000 to charity Knowledge Quest, which helps students struggling to pay for their degrees.

Kiara Wilkinson, 19, is one of three students to benefit from the link-up between HSBC and Knowledge Quest.

Ms Wilkinson, a former Saltus Grammar School pupil from Smith’s, who is studying criminology at Kingston University, near London, said: “I would have struggled otherwise — it’s a tremendous help, especially in London as it’s very expensive.

“It’s taken a weight off my mind.”

Thomas Chapman, from St George’s, represented his son Jecar, a former CedarBridge Academy valedictorian, who has already left to resume his pre-med degree in molecular biology at Dalhousie University in Halifax, Nova Scotia.

Mr Chapman said: “It’s huge. It’s really big. Jecar has got a dream of being a doctor and without this help he wouldn’t have been sure of his future. This gives him another step on the way.”

Crystal Dill, who is studying psychology at Kean University in the US, was the third to benefit from the bank’s donation.

HSBC Bermuda chief Richard Moseley said it was important for corporate Bermuda to back the community it operated in.

Mr Moseley said: “It’s important and it’s something we want to do. It’s something which resonates with our staff — putting something back into the community.

“Within the bank, we are by and large very fortunate and we can share that fortune by putting something back into our community.”

He added: “It is important for HSBC to continue to invest in local initiatives for the future sustainability of our business and the future success of the Island and we’re looking forward to many more years of supporting the local community.”

Reading Clinic executive director Dr Julie Dunstan said the cash would provide scholarships for 15 students a year who were having difficulties with reading.

She added: “During these difficult times, this represents a truly significant gift to our organisation, our students and their families.

“Words cannot express the depths of our gratitude to HSBC for helping Bermuda’s children to learn, grow and soar.”

The donation to both charities will be paid out over five years and Knowledge Quest co-president Kathy Lines said the money would help six students “of very limited financial means” to get through their university degrees.

She added: “We are so grateful to HSBC for its generous donation of $250,000 over the next five years and for supplying a mentor to each of the HSBC-named scholars.

“Their commitment to support the education of Bermuda’s young people is a win-win for all — the students, their families, future employers and the community in which we all live together.”