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 eyes Brazil sale as US court reverses US$2.5 billion securities-fraud judgment

HSBC's head office has been reviewing the bank's operations in the Americas, with a focus on underperforming businesses. Photo: AFP

HSBC shares climbed 1.3 per cent on Friday to HK$75.2 after the London-based lender said it was considering the sale of its troubled Brazilian unit and a US court reversed a US$2.5 billion judgment on a 12-year-old securities-fraud case against the bank.

Friday, 22 May, 2015, 11:01pm

HSBC would be wise to return to its roots in Hong Kong

HSBC headquarters in Central. Photo: Sam Tsang

HSBC used to hold a triennial review of its domicile policy, leading to periodic speculation about its return to Hong Kong, which remains its most profitable market.

30 Apr 2015 - 7:37pm 1 comment

Hong Kong's HSBC bank looks back at real mobile banking on its anniversary

HSBC's "mobile banking" in 1962 in Kam Tin. Photo: SCMP

To accommodate Hong Kong's fast-growing needs, HSBC introduced vehicular banking in 1961. Fast-forward to today, mobile banking via smartphones has become the norm.

15 Apr 2015 - 11:19am

HSBC rejects children's charity bank account request over money laundering fears

Charity president Guillaume Ponticelli. Photo: SMP Pictures

The Hong Kong branch of a Cambodian charity that helps impoverished children says it was shocked when HSBC rejected its application to open an account because of concerns over money laundering.

15 Apr 2015 - 11:42am 16 comments

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.

26 Mar 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 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 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