• Fri
  • Dec 26, 2014
  • Updated: 1:46am

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 seems to find it easier to pay fines than fix corporate culture

Most people do not realise how close HSBC came to collapse.

Since the financial crisis, global banks have evolved from "too big to fail" into "too big to jail". Each new fine, like BNP Paribas' US$8.9 billion penalty, sets a new, ignominious record.

Monday, 14 July, 2014, 3:09am 1 comment

HSBC and Citi compete for Asian bond supremacy

HSBC has grabbed a 12.5 per cent share of a boom market for underwriting debt issues in the region this year. Photo: Nora Tam

Competition to underwrite record bond sales in Asia is the most intense in five years as more banks seek business in the world's fastest-growing regional economy.

7 Jul 2014 - 8:08pm 2 comments

HSBC asset sale to LGT will halve countries served by its private bank

HSBC said its private bank served customers from about 150 countries but was being reduced to about 70. Photo: Bloomberg

HSBC is halving the number of countries its private bank serves after selling a portfolio of Swiss banking assets, the latest bank to narrow its wealth management focus in a bid to improve profitability and cut compliance risk.

25 Jun 2014 - 2:37am

Iran lobbies HSBC to clear humanitarian transactions

HSBC has blocked transfers for humanitarian goods, over worries about breaching sanctions. Photo: AP

Iran is lobbying to get HSBC to process humanitarian trade transactions that Europe's biggest bank has frozen because of concerns about breaching international sanctions.

25 Jun 2014 - 3:02am

HSBC customer forced to make 16,000-kilometre trip to access account after bank blunder

Robert Lewis was forced to make a return trip from his native Australia to Hong Kong to get access to his account.

When former Hong Kong resident Robert Lewis opened an account with the "world's local bank" he didn't expect to have to have a 16,000km round trip to get his hands on his cash.

23 Jun 2014 - 11:36am 55 comments

HSBC boosts oversight on metals financing in wake of Qingdao probe

Officials are checking receipts of metals stored in Qingdao.

HSBC, the city's largest bank, which has been aggressively expanding on the mainland, is carefully examining all commodities financing transactions following reports of alleged irregularities at Qingdao Port.

16 Jun 2014 - 3:40am

Asian investors eye HSBC’s headquarters in London

The headquarters may fetch £1 billion. Photo: Bloomberg

The sale of HSBC's headquarters at Canary Wharf in London is expected to attract strong interest from Asian investors, the property consultant appointed to market the building said.

26 May 2014 - 5:50pm

HSBC expects to increase dividend

HSBC is now "simpler and leaner" than it was in 2011, and has a "strong" capital position. Photo: Reuters

HSBC Holdings says it will pay a higher dividend this year, allaying shareholders' concerns that its payout will remain flat because of capital needs under tougher regulatory requirements.

20 May 2014 - 4:20am

HSBC private bank bets on new hedge funds in Asia

HSBC is eyeing early-stage investments in Asian managers as rivals have reduced research staff in the region after the 2008 global financial crisis to cut costs, raising barriers for smaller hedge funds to expand assets. Photo: EPA

HSBC Holdings private bank unit, which invests US$25 billion in hedge funds globally, sees opportunities in backing new Asia-based managers, said Henry Lee, regional head of its alternative investment group.

15 May 2014 - 1:43am

Tough road ahead for HSBC as first quarter 2014 profits down 20pc

First-quarter profits fell 20pc year on year with more of the same expected in the second quarter on "muted" customer activity. Photo: AP

Earnings at HSBC are set to remain under pressure for at least two more quarters as a change to the way it accounts for a key Chinese bank stake and the performance of its own investment banking business weigh on the numbers.

8 May 2014 - 1:15am

HSBC retail revamp key to end drag of redress on profits

John Flint says breaking the links between sales and pay is crucial to improving HSBC's risk-adjusted returns. Photo: May Tse

Redress is a word that comes up a lot in an interview with John Flint, the first he has given since taking over as HSBC's global head of retail banking and wealth management 16 months ago.

7 Apr 2014 - 5:16am

US monitor says HSBC’s anti-money-laundering fixes leave ‘much work to be done’

HSBC was once described by a Mexican drug lord as 'the place to launder money' given the banking giant's lax controls. Photo: Reuters

HSBC has made some progress in improving its anti-money laundering programme, as required by a 2012 deferred prosecution agreement with the US Justice Department, but there remains “much work to be done”, federal prosecutors said in a court filing on Tuesday.

2 Apr 2014 - 5:08pm

HSBC apologises after guards block photographer Jacky Poon's path

Pan-democrats staged a hunger strike for universal suffrage outside HSBC building in Central.

HSBC has been blasted by the Press Photographers Association after a local journalist was allegedly manhandled by security guards as he walked through the plaza underneath the bank's Central headquarters.

30 Mar 2014 - 5:14am 1 comment

Brokers flee HSBC for Chinese investment banks in Hong Kong

HSBC introduced a new remuneration system last year. Photo: AP

Dozens of former stockbrokers at HSBC have recently found new jobs at two rapidly expanding Chinese investment banks in Hong Kong after they left the British lender over disagreements on salaries.

12 Mar 2014 - 5:04am 7 comments

HSBC targets higher lending margins

HSBC's Hong Kong chief executive Anita Fung wants the bank to maintain its double-digit growth rate in loans. Photo: Thomas Yau

HSBC is eyeing higher margins in its Hong Kong lending operations this year amid a tightening of market liquidity due to the tapering of quantitative easing and stricter liquidity requirements of the local regulator.

10 Mar 2014 - 7:59am