• Wed
  • Jul 30, 2014
  • Updated: 6:28am

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. 

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

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.

Tuesday, 7 January, 2014, 5:05am 1 comment

HSBC unit taps into onshore debt market

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 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

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 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 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

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

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

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

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