HSBC has issued a full-page apology in several newspapers over claims its Swiss private banking branch helped clients evade taxes.
In a letter addressed to customers and staff, chief executive Stuart Gulliver said the revelations over the past week had been a "painful experience".
The fallout from the revelations sparked a political row between the Conservatives and Labour.
HSBC boss Stuart Gulliver has said the bank has "absolutely no appetite to do business with clients who are evading their taxes", despite allegations of a major tax-avoidance scandal at the bank.
Gulliver said today that the bank supported government initiatives to exchange tax information and had implemented a US tax information disclosure regime, as well as undergoing a full overhaul of its Swiss private bank which the allegations relate to.
The bank is currently facing historic allegations that its Swiss banking arm helped some of their richest clients conceal assets and avoid taxes.
HSBC whistleblower revealing tax avoidance scandal has told ITV News that he was "never" invited to the UK despite contacting HRMC.
Labour have demanded the government makes public what they knew about the HSBC tax-dodging scandal.
The response to the HSBC scandal shows it has become harder for the rich to hide their riches, but it's still possible.