It is the largest bank in Europe and one of the largest in the world. It is a multinational banking institution established in London. It works based on commercial, retail, investment, patrimonial management, and global private banking. It operates in various parts of the world, including Europe, the Middle East, Asia, Africa, North America, and Latin America.
Table of Contents
The history of this bank dates back to 1865 when Thomas Sutherland founded HSBC (The Hongkong and Shanghai Banking Corporation). HSBC was established first in Hong Kong and later in Shanghai due to the high demand for banking services at that time. It began to expand internationally by several countries, especially in Asia. It was established in Thailand, China, Japan, Penang, and Singapore. Years later, it opened branches in Bangkok, Manila, and Shanghai. It was one of the first banks to use modern banking operations. Between the 1880s and 1890s, it was already the most important bank in Asia.
After World War II, the entire economy had fallen. That was when Arthur Morse took command of HSBC. His ideas on strengthening the bank played an important role in rebuilding the economy of Hong Kong. Most of the offices in China had closed. For this reason, the bank began acquiring several banking institutions such as Mercantile Bank and the British Bank of the Middle East in 1959.
It continued to expand internationally. This time, the bank acquired Marine Midland Bank, of the United States of America in the 1980s, Hongkong Bank of Canada, Hongkong Bank of Australia Limited and part of Midland Bank in the United Kingdom. In 1991, HSBC Holdings plc was created, and after obtaining Midland Bank, it was established in London.
In 2003, the construction of its new headquarters (8 Canada Square) in London was ready. The bank continued to open offices in Europe, Asia (especially China), Latin America, North America, and the Middle East.
The route number consists of 9 digits that represent the efficiency and guarantee in a bank transfer: 021001088.
Number of Employees
HSBC Holdings has a total of 238,000 employees.
Moody’s, S&P Global and Fitch agencies had lowered the bank’s rating.
HSBC Holdings has a rating of:
- Moody’s = A2.
- S&P = A.
- Fitch = AA-.
A2 (Moody’s) = It has a medium-high quality, low credit risk, but with elements that suggest a susceptibility to long-term deterioration.
A (S&P Global) = The economic situation could affect financing.
AA- (Fitch) = It means that the bank’s security is very high.
HSBC Holdings is located in London, United Kingdom.
The bank’s website is http://www.hsbc.com
- Commercial Banking: It offers banking services of cash management, accounts receivable, global liquidity, and others to clients and national and international companies.
- Global Banking and Markets: It provides banking services and market operations to companies, corporations, and institutions through the international HSBC network worldwide.
- Retail Banking and Wealth Management: The bank is responsible for providing advice to personal clients in checking account operations, credit cards, loans, savings, insurance, etc.
- Global Private Banking: It offers secure asset management services to people from important companies and families to preserve their wealth.
Address: 8 Canada Square, London, United Kingdom.
Phone Number: +44 (0)20 7991 8888.