• Fri
  • Oct 24, 2014
  • Updated: 4:56pm

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. 

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.

Friday, 6 December, 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

US court fines HSBC US$2.46 billion over Household International case

HSBC has been ordered by a Chicago court to pay about US$2.46 billion in a class action lawsuit against its former Household International unit for violating federal securities laws, a verdict the British banking giant plans to appeal.

19 Oct 2013 - 3:12am

HSBC and BEA approved to operate in Shanghai free-trade zone

HSBC and Bank of East Asia have won approval to set up a presence in the Shanghai free-trade zone, putting them among the first foreign banks there following similar approval granted to DBS and Citigroup last month.

13 Oct 2013 - 5:40am

Foreign banks shun China's Shanghai free-trade zone amid uncertain rules

Beijing's move to eliminate bureaucratic approval processes to encourage foreign banks to open branches in the Shanghai free-trade zone has met with a lukewarm response.

9 Oct 2013 - 11:28am 4 comments

HSBC to make life easier for customers withdrawing cash abroad

The wait is over for HSBC’s long suffering customers who have been unable to withdraw cash in many countries, particularly outside Asia, using their ATM cards.

HSBC will announce on Tuesday that customers can start applying for a new ATM card that uses the Plus payment network, which can be used in addition to the bank’s current ATM cards that use the China UnionPay payment system.

8 Oct 2013 - 11:55am

HSBC and Standard Chartered among first Shanghai free-trade zone banks

HSBC and Standard Chartered are expected to be among the first batch of foreign banks to offer a wide range of banking services in the mainland's first free-trade zone, in Shanghai, with Beijing wanting to open its financial sector wider to foreign investment.

10 Sep 2013 - 7:53am

HSBC strikes again as overseas withdrawal problems continue

I can’t believe that six months down the track I’m still writing about this. It was back at Easter when I first tried, and failed to extract money from an HSBC ATM machine in Taunton in England.

8 Sep 2013 - 4:47pm 9 comments

Can HSBC find profit growth in Pearl River Delta?

HSBC's decision to give up trying to be the world's local bank has, ironically, enabled it to report higher underlying pre-tax profit globally, with the exception of Latin America.

10 Aug 2013 - 4:19am

HSBC of today lacking in vision that had helped it grow

"In May 2013, we set out our plans for the next phase of delivering our strategy, covering the period from 2014 to 2016. Our strategic direction is unchanged and our priorities are clear."

Stuart Gulliver HSBC group chief executive SCMP, August 6

8 Aug 2013 - 3:50am 3 comments