• Tue
  • Dec 23, 2014
  • Updated: 6:39am

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’s shares drop after it misses earnings forecasts

Hong Kong contributed more than one-third of HSBC's  pretax profit last year. Photo: Nora Tam

HSBC shares fell as much as 2.7 per cent in Hong Kong to the lowest in eight trading days after the bank posted annual results that missed market expectations.

Tuesday, 25 February, 2014, 11:29am

World economic recovery key to HSBC growth

HSBC's share price has underperformed its major rivals, dropping 2 per cent in the past year as return on equity failed to reach double digits. Photo: Nora Tam

HSBC's revenue and profit prospects are likely to rest on the pace of economic recovery in developed countries and the timing of interest rate increases by the United States Federal Reserve, given strengthening headwinds in the bank's key emerging market operations.

25 Feb 2014 - 5:17am

HSBC stock set to fall in Hong Kong as Q4 profit disappoints

A branch of HSBC in central London. Photo: EPA

Asian investors look set to sell HSBC stock when the market opens in Hong Kong today after Europe's biggest bank saw its profit slip in the fourth quarter of last year as provisions and levy commitments rose and revenue remained flat.

25 Feb 2014 - 1:35am

19pc growth in HSBC pre-tax profit estimated as impairments stabilise

HSBC has achieved total cost savings of US$4.8 billion since Stuart Gulliver became chief executive in 2011. Photo: Bloomberg

Lower impairment charges from HSBC's North American operations and better cost control are likely to have boosted the banking giant's pre-tax profit by 19 per cent last year, analysts estimate.

They are tipping, on average, a figure of US$24.5 billion for Europe's biggest lender, which will announce its results on Monday.

21 Feb 2014 - 12:57am

Big players unlikely to heed welcome move by smallest MPF provider

HSBC, with its Hang Seng Bank subsidiary, and Manulife together control almost half the MPF market. Photo: AP

Haitong International Securities having to resort to waiving its investment management fees on Mandatory Provident Fund offerings for three years shows the difficulty small players face in capturing a piece of the HK$514 billion market.

18 Feb 2014 - 2:30am

Deng Xiaoping urged London to persuade HSBC to stay in Hong Kong

HSBC

Chinese leader Deng Xiaoping urged the British government three decades ago to persuade the Hong Kong and Shanghai Bank not to relocate from Hong Kong in order to maintain investor confidence in the city.

His call was made during a meeting with British foreign secretary Geoffrey Howe in July 1984.

7 Jan 2014 - 5:05am 1 comment

HSBC unit taps into onshore debt market

HSBC's Joanna Munro says the bank is well placed to benefit from any change in the mutual fund recognition scheme. Photo: Paul Yeung

HSBC's asset management arm is stepping up efforts to tap the mainland's onshore bond market, the fourth-largest in the world, but one still largely closed to foreign investors, as a key part of its strategy to take advantage of Beijing's sweeping plans to globalise the yuan.

18 Dec 2013 - 5:14pm

HSBC asset sale continues with Bank of Shanghai exit

HSBC has been selling "non-core" assets to boost liquidity amid tougher capital rules. Photo: Bloomberg

HSBC Group's sale of its entire stake in Bank of Shanghai marks the banking giant's latest effort to boost liquidity amid tougher capital requirements under the Basel III banking regulations and trim what it calls "non-core" assets.

12 Dec 2013 - 4:41pm

Controversial investment-linked assurance schemes poised to make a comeback

HSBC both creates and distributes ILAS products. Photo: Nora Tam

A controversial class of investment products may soon become widely available again after most banks in Hong Kong stopped selling them when tough restrictions on their sale were introduced this year.

6 Dec 2013 - 3:21am

HSBC shares up on profit rise, but concerns remain

HSBC's third-quarter pre-tax profit grew 30 per cent year on year.

HSBC shares climbed to a six-week high in Hong Kong yesterday after the bank's third-quarter pre-tax profit grew 30 per cent year on year. But analysts warned the softening revenue trend would continue for the bank, which is coming to the end of its restructuring.

6 Nov 2013 - 5:41am

British banks face yet more bills, this time for poor advice to customers

HSBC's chief executive said the bank needs to go back to 2008 and check how it sold wealth management products to about 200,000 clients. Photo: AFP

HSBC has set aside US$149 million to review how it advised about 200,000 British customers on investing a lump sum of money, the first British bank to do so and signalling another potential costly mishap for lenders.

5 Nov 2013 - 10:39am

Cleaner HSBC balance sheet leaves doubts

The banking giant's pre-tax profit of US$4.5 billion for the quarter fell short of expectations in the market of US$5.4 billion. Photo: Bloomberg

HSBC, Europe's largest bank, failed to match analysts' third-quarter profit forecasts yesterday but a cleaner balance sheet, without massive provisions, still impressed the market.

5 Nov 2013 - 12:15pm

HK comes out tops in HSBC report

Stuart Gulliver expects the mainland economy to have a soft landing.

Better investment product sales and higher interest income saw HSBC's Hong Kong operation become the global bank's best-performing region in the third quarter of the year and help offset weak performance in overseas markets.

5 Nov 2013 - 2:42am

HSBC tipped for surge in pre-tax earnings

HSBC's Hong Kong operations, as part of strong growth in Asia, are likely to remain a key contributor to the group's earnings. Photo: Nora Tam

Banking giant HSBC is set to report a surge in third-quarter pre-tax profit next week on the back of its fast-growing Asia-Pacific business and increased trade flows.

1 Nov 2013 - 5:24pm

HSBC finally reinstate Plus ATM card, but the hassle doesn't end

HSBC bank's logo is displayed at the top of its Hong Kong headquarters building. Photo: EPA

After more than six months of customer hassle and grief, the World’s Local Bank has backed down and reissued Plus system ATM cards after the UnionPay disaster. But not to everyone.

25 Oct 2013 - 8:58pm 6 comments