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.
When former Hong Kong resident Robert Lewis opened an account with the "world's local bank" he didn't expect to have to have a 16,000km round trip to get his hands on his cash.Monday, 23 June, 2014, 11:36am 55 comments
HSBC, the city's largest bank, which has been aggressively expanding on the mainland, is carefully examining all commodities financing transactions following reports of alleged irregularities at Qingdao Port.16 Jun 2014 - 3:40am
The sale of HSBC's headquarters at Canary Wharf in London is expected to attract strong interest from Asian investors, the property consultant appointed to market the building said.26 May 2014 - 5:50pm
HSBC Holdings says it will pay a higher dividend this year, allaying shareholders' concerns that its payout will remain flat because of capital needs under tougher regulatory requirements.20 May 2014 - 4:20am
HSBC Holdings private bank unit, which invests US$25 billion in hedge funds globally, sees opportunities in backing new Asia-based managers, said Henry Lee, regional head of its alternative investment group.15 May 2014 - 1:43am
Earnings at HSBC are set to remain under pressure for at least two more quarters as a change to the way it accounts for a key Chinese bank stake and the performance of its own investment banking business weigh on the numbers.8 May 2014 - 1:15am
Redress is a word that comes up a lot in an interview with John Flint, the first he has given since taking over as HSBC's global head of retail banking and wealth management 16 months ago.7 Apr 2014 - 5:16am
HSBC has made some progress in improving its anti-money laundering programme, as required by a 2012 deferred prosecution agreement with the US Justice Department, but there remains “much work to be done”, federal prosecutors said in a court filing on Tuesday.2 Apr 2014 - 5:08pm
HSBC has been blasted by the Press Photographers Association after a local journalist was allegedly manhandled by security guards as he walked through the plaza underneath the bank's Central headquarters.30 Mar 2014 - 5:14am 1 comment
Dozens of former stockbrokers at HSBC have recently found new jobs at two rapidly expanding Chinese investment banks in Hong Kong after they left the British lender over disagreements on salaries.12 Mar 2014 - 5:04am 7 comments
HSBC is eyeing higher margins in its Hong Kong lending operations this year amid a tightening of market liquidity due to the tapering of quantitative easing and stricter liquidity requirements of the local regulator.10 Mar 2014 - 7:59am
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.
The stock fell to HK$81.60 by 11am, after it dived more than 5 per cent in London trading yesterday, later closing at 635.70 pence, down 2.8 per cent from the previous day.25 Feb 2014 - 11:29am
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
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
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