The banking crisis has cost more jobs - this time at the global bank HSBC, which is shedding 1,100 worldwide, around 500 in London.

Most of the jobs are from its investment banking division based in Canary Wharf.

It is understood from banking sources that the move will not affect branch jobs in Kent and Medway, although it is likely a number of Canary Wharf staff commute from homes in the county.

The other jobs will go in the United States and mainland Europe.

HSBC said it was making the cuts as a result of the tough market conditions and its cautious outlook for 2009.

The cull of 1,100 jobs will affect around four per cent of its wholesale banking workforce.

The news follows the loss of 370 jobs at Bradford and Bingley, including a number in Kent. They mainly involve staff promoting sales of home loans through its branch network.

There are fears that many more banking and City jobs will go following the collapse of investment bank Lehman Brothers, part of which has been sold to Japanese bank Nomura.