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 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.Friday, 26 June, 2015, 12:33pm
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 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)
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
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
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
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 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
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
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 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
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