HSBC | South China Morning Post
  • Wed
  • Apr 1, 2015
  • Updated: 12:27pm
HSBC

HSBC

The Hongkong and Shanghai Banking Corporation was founded in Hong Kong on March 3, 1865, and in Shanghai one month later. In 1980, HSBC acquired 51 per cent of Marine Midland Bank, buying the rest in 1987. HSBC Holdings was established in Britain in 1991 as the parent of The Hongkong and Shanghai Banking Corporation ahead of its purchase of the UK-based Midland Bank and the impending 1997 transfer of sovereignty of Hong Kong from Britain to China. 

HSBC set for windfall from oversubscribed HK$150 banknotes - with proceeds going to charity

Wan Shu-keang  holds an applications for the commemorative banknotes at HSBC branch in Mong Kok. Photo: Nora Tam

HSBC is expected to cash in HK$1 billion as its 150th anniversary commemorative banknotes are oversubscribed by up to 64 times, a source revealed.

Thursday, 26 March, 2015, 10:03am 2 comments

HSBC HK$150 fever as speculators look to cash in on anniversary banknotes

Miss Yip, 85, told the media that she would buy the 35-in-1 uncut banknotes for her personal collection. Photo: Nora Tam

Lines of customers formed outside HSBC’s Mong Kok branch this morning as speculators looked to cash in on HK$150 banknotes issued to commemorate the bank’s 150th anniversary.

6 Mar 2015 - 2:18am 3 comments

HSBC HK$150 anniversary banknote tipped for hyperinflation

The HK$150 note reflects Hong Kong's development over the years. Photo: May Tse

Special HK$150 banknotes produced by HSBC to celebrate the bank's 150th anniversary will be available for orders from collectors on Thursday.

5 Mar 2015 - 9:16am 10 comments

HSBC marks 150th anniversary with light show and commemorative banknote

The impressive 150th anniversary light show illuminates HSBC headquarters in Central. Photo: Nora Tam

HSBC launched a light show last night to celebrate its 150th anniversary and is to issue a special commemorative HK$150 banknote.

4 Mar 2015 - 6:17pm

How sharing helped HSBC generate revenue in 2014

Stuart Gulliver says HSBC management deserves more recognition for the remoulding effort that has led to the disposal of 77 businesses, 50,000 staff members and, in its embattled Swiss private bank, 70 per cent of its clientele. Photo: Reuters

HSBC Holdings executives think investors do not get their restructuring plan - and they might be on to something.

1 Mar 2015 - 6:57pm 1 comment

HSBC has nothing to say sorry for if it did no wrong

HSBC has nothing to say sorry for if it did no wrong

There is something I do not understand here. The story, as it most commonly appears, is that HSBC's people in Geneva cheated by helping clients dodge tax and HSBC now proclaims itself sorry that this happened.

1 Mar 2015 - 6:41am 16 comments

HSBC CEO Gulliver ties Swiss tax scandal to another era

HSBC executives Stuart Gulliver (left) and Douglas Flint faced grilling over bank practices.

HSBC CEO Stuart Gulliver told UK lawmakers that the scandal over the role of the Swiss private banking unit played in helping clients dodge taxes was the product of a different era.

26 Feb 2015 - 7:58am 1 comment

Investors left with puzzle after HSBC lowers expectations

HSBC's revenue dropped 5.2 per cent last year, while its operating costs rose by a higher than expected 6.1 per cent.Photo: Felix Wong

If you can't hit the target, then lower it. That seems to be the strategy emerging at HSBC Holdings for the next three to five years as the bank tries to reverse a 17 per cent drop in pre-tax profits last year.

24 Feb 2015 - 11:21pm

HSBC boss hid US$7m in Swiss account to 'protect' him from Hong Kong staff

HSBC's chief executive Stuart Gulliver. Photo: Reuters

HSBC Holdings chief executive Stuart Gulliver painted recent revelations that he held his Hong Kong bonuses in a Swiss account via a Panamanian company as a matter of privacy.

24 Feb 2015 - 4:58pm 6 comments

HSBC must balance compliance costs with the interests of stakeholders

HSBC must balance compliance costs with the interests of stakeholders

It was exactly the kind of headline a global bank like HSBC didn't need, especially when it was set to report its full-year earnings.

24 Feb 2015 - 7:59am 4 comments

HSBC profit falls 17 per cent as restructuring pushes up costs

A branch of the HSBC in the China Town area of central London. Photo: EPA

HSBC Holdings shares dived in London trading yesterday after the bank reported a 17 per cent fall in pre-tax profit to US$18.68 billion in 2014 and continued struggles with reining in costs.

24 Feb 2015 - 7:15am 1 comment

HSBC chief with Hong Kong residency ‘kept US$7.6 million in Swiss bank account’

Stuart Gulliver, HSBC Group chief executive officer, was listed as the beneficial owner of the account containing at least US$7.6 million in 2007, a British newspaper reported. Photo: Bloomberg

HSBC shares retreated slightly in the opening hours of trading on Monday after media reports that chief executive Stuart Gulliver, tax-domiciled in Hong Kong, sheltered US$7.6 million in a Swiss account through a Panamanian company.

23 Feb 2015 - 7:37pm 15 comments

Britain's Daily Telegraph accused of 'fraud' over HSBC saga

Britain's Daily Telegraph accused of 'fraud' over HSBC saga

One of Britain's most celebrated newspapers has been accused of self-censoring for commercial gain, raising awkward questions about a centuries-old press culture which has prided itself on its no-holds-barred approach to truth telling.

22 Feb 2015 - 6:29am

Hong Kong HSBC relatively unscathed as bank struggles with catalogue of errors

Hong Kong HSBC relatively unscathed as bank struggles with catalogue of errors

HSBC's once stellar reputation tarnished as it struggles with a catalogue of money-losing failures.

21 Feb 2015 - 1:11pm 6 comments

HSBC facing 10 separate probes around the world

HSBC facing 10 separate probes around the world

Ten days after revelations about HSBC's Swiss subsidiary first broke, the bank is now facing 10 separate investigations around the world.

On Wednesday, Swiss prosecutors announced a criminal probe into the Geneva-based bank's activities, joining a growing list of investigations in jurisdictions across Europe, Asia, and both North and South America.

21 Feb 2015 - 12:54am

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