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 and StanChart among 15 banks probed for rigging Brazilian currency

The logos of Standard Chartered and HSBC in Hong Kong. Both lenders are part of a group of 15 banks being investigated by Brazil for manipulating its currency. Photo: Sam Tsang

Fifteen of the world’s largest banks are under investigation on suspicion of rigging the Brazilian currency, antitrust watchdog Cade said, the first such probe in one of the busiest foreign-exchange markets globally.

Friday, 3 July, 2015, 6:24pm

HSBC ends tie-up with Markit to produce key China index

HSBC says the co-operation with Markit to produce the closely watched index was a success but said the bank was moving to developing other opportunities. Photo: Reuters

HSBC has ended its marketing tie-up with financial information firm Markit Ltd to produce the China Purchasing Managers Index (PMI), an HSBC spokesperson in Shanghai said.

The spokesperson described the co-operation with Markit to produce the closely watched index as a success but said that HSBC was moving to developing other opportunities.

26 Jun 2015 - 12:33pm

HSBC still finding its way on latest capital-raising rules

HSBC faces challenges in meeting loss requirements. Photo: AFP

HSBC Holdings' head of global regulation said a major question mark is still hanging over efforts to raise loss-absorbing capital that will make it compliant with the latest wave of global regulation by the close of 2018.

18 Jun 2015 - 12:09pm

HSBC to shed up to 25,000 jobs and refocus efforts in Asia

HSBC to shed up to 25,000 jobs and refocus efforts in Asia

HSBC will shed almost 25,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. (Photo: EPA) 

10 Jun 2015 - 12:18pm

Hong Kong workers spared as HSBC cuts 25,000 jobs worldwide

HSBC says there will be no job cuts in Hong Kong. Photo: AP

Hong Kong heads will not roll as HSBC Holdings slashes up to 25,000 jobs worldwide and sells off its troubled operations in Turkey and Brazil.

Instead, as the bank slims down on assets in many markets worldwide, the Pearl River Delta would see a boost in investment, the bank said on Tuesday at a high-profile meeting with investors in London.

10 Jun 2015 - 12:16pm 2 comments

Back to basics

Back to basics

10 Jun 2015 - 9:23am

Banking giant HSBC’s meeting with investors set to underwhelm

HSBC chief executive Stuart Gulliver gives a speech as the banking conglomerate struggles to turn around its flagging fortunes. Photo: Nora Tam

HSBC Holdings can tell investors at a meeting on Tuesday that it plans to slash jobs, hawk off global businesses or even ditch its tax domicile in Britain. But there’s likely little the bank has to share that they don’t see coming.

8 Jun 2015 - 6:06pm

HSBC gets serious

HSBC gets serious

3 Jun 2015 - 9:19am

HSBC shares at lowest in 6 weeks by midday after report bank planning thousands of global job cuts

The HSBC logo is seen lighting up the building of the lender in Hong Kong. Sky News is reporting HSBC may announce thousands of job cuts next week. Photo: EPA

Share prices of global banking giant HSBC were at their lowest level in almost six weeks by midsession in Hong Kong on Tuesday following reports the bank may announce the dismissal of thousands of people next week.

2 Jun 2015 - 12:31pm

Can HSBC break with the past?

Can HSBC break with the past?

22 May 2015 - 10:08pm

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.

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

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