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 customer forced to make 16,000-kilometre trip to access account after bank blunder

Robert Lewis was forced to make a return trip from his native Australia to Hong Kong to get access to his account.

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 boosts oversight on metals financing in wake of Qingdao probe

Officials are checking receipts of metals stored in Qingdao.

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

Asian investors eye HSBC’s headquarters in London

The headquarters may fetch £1 billion. Photo: Bloomberg

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 expects to increase dividend

HSBC is now "simpler and leaner" than it was in 2011, and has a "strong" capital position. Photo: Reuters

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 private bank bets on new hedge funds in Asia

HSBC is eyeing early-stage investments in Asian managers as rivals have reduced research staff in the region after the 2008 global financial crisis to cut costs, raising barriers for smaller hedge funds to expand assets. Photo: EPA

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

Tough road ahead for HSBC as first quarter 2014 profits down 20pc

First-quarter profits fell 20pc year on year with more of the same expected in the second quarter on "muted" customer activity. Photo: AP

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

HSBC retail revamp key to end drag of redress on profits

John Flint says breaking the links between sales and pay is crucial to improving HSBC's risk-adjusted returns. Photo: May Tse

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

US monitor says HSBC’s anti-money-laundering fixes leave ‘much work to be done’

HSBC was once described by a Mexican drug lord as 'the place to launder money' given the banking giant's lax controls. Photo: Reuters

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 apologises after guards block photographer Jacky Poon's path

Pan-democrats staged a hunger strike for universal suffrage outside HSBC building in Central.

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

Brokers flee HSBC for Chinese investment banks in Hong Kong

HSBC introduced a new remuneration system last year. Photo: AP

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 targets higher lending margins

HSBC's Hong Kong chief executive Anita Fung wants the bank to maintain its double-digit growth rate in loans. Photo: Thomas Yau

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’s shares drop after it misses earnings forecasts

Hong Kong contributed more than one-third of HSBC's  pretax profit last year. Photo: Nora Tam

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

World economic recovery key to HSBC growth

HSBC's share price has underperformed its major rivals, dropping 2 per cent in the past year as return on equity failed to reach double digits. Photo: Nora Tam

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

HSBC stock set to fall in Hong Kong as Q4 profit disappoints

A branch of HSBC in central London. Photo: EPA

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

19pc growth in HSBC pre-tax profit estimated as impairments stabilise

HSBC has achieved total cost savings of US$4.8 billion since Stuart Gulliver became chief executive in 2011. Photo: Bloomberg

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