• Thu
  • Dec 25, 2014
  • Updated: 9:47am

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 breaches its deeds by bringing down the shutters

Asset stripper?

Readers will have been aware that during the recent dock strike, a number of dockers were camped outside the Cheung Kong building in Central, more or less opposite the HSBC headquarters at 1 Queens Road.

Friday, 10 May, 2013, 5:21am

HSBC profit doubles on stronger US, Europe earnings

Stuart Gulliver

A turnaround in its business in Europe and North America, fewer bad debts and cost-cutting helped HSBC post sharply higher first-quarter results yesterday. After adjusting for debt, investments and disposals, pre-tax profit surged 95 per cent to US$8.4 billion. The average analyst forecast was US$8 billion.

8 May 2013 - 5:18am 1 comment

HSBC expected to report big surge in profit

Although strong earnings are expected for the quarter, HSBC is seen as too large and may announce measures to lower costs. Photo: EPA

HSBC may post first-quarter pre-tax profit of US$8 billion, 80 per cent higher than in the previous quarter, according to an average estimate of five analysts.

7 May 2013 - 3:56am

Talking points

HSBC releases first-quarter results

HSBC releases first-quarter results

7 May 2013 - 2:22am

HSBC sells stake in Korean insurer

HSBC sells stake in Korean insurer

The banking giant said its subsidiary HSBC Insurance (Asia-Pacific) had agreed to sell its 50 per cent less one share in Hana HSBC Life Insurance to Hana Financial Group.

30 Apr 2013 - 7:28am

True universal suffrage would avoid a lot of the brewing unrest

Benny Tai

The absurdity of the arrangements surrounding the election of the chief executive in 2017 is rapidly becoming apparent. Our leaders in Beijing don't want anyone running Hong Kong who is going to cause them trouble, whatever form that may take.

30 Apr 2013 - 4:28am 4 comments

HSBC continues China banking divorce

Analysts believe that HSBC is likely to sell off its 18.7 per cent stake in regional lender Bank of Shanghai later this year. Photo: Reuters

A new media report says global banking giant HSBC is likely to sell-off more of its Chinese assets, continuing an ongoing divorce by top global lenders tired of slow progress in the complex China market.

15 Apr 2013 - 10:55am

HSBC eyes sell-off of other Chinese assets

Speculation HSBC may dispose of more mainland investments has been stoked by the sale of its stake in insurer Ping An. Photo: K.Y. Cheng

Following HSBC's high-profile sale of its entire holding in Ping An, China's No 2 life insurer, Europe's biggest bank is expected to dump more non-core assets it holds on the mainland this year to raise capital.

15 Apr 2013 - 5:27am

HSBC: The hardly serious banking corporation

The logo of HSBC bank is seen at its office in the Canary Wharf business district of London. Photo: Reuters

It seemed simple. Pop into HSBC on a visit to England – it’s “The world’s local bank,” - and check my account. I poked my HSBC card into the Taunton HSBC ATM and got my balance, but no option for mini-statement to show recent transactions. Inside the helpful branch manager, Ivan, ushered me to a different machine – but still only the balance. The machine offered me cash.

10 Apr 2013 - 1:13pm 4 comments

Bank help one card short of a full deck

Photo: SCMP

It seemed simple. Pop into HSBC on a visit to England - it is the "world's local bank" - and check my account. I poked my card into an ATM in Taunton, a town in the southwest. I got my balance, but no option for a mini-statement to show recent transactions. Inside, the helpful branch manager, Ivan, ushered me to a different ATM. Still only the balance.

8 Apr 2013 - 5:22am

HSBC turns Asian loan clients into junk bond issuers

HSBC led sales of Asian junk bonds in 2012. Photo: Bloomberg

Europe's largest bank managed US$5.3 billion of high-yield debt globally in the first quarter, moving up to 10th place after ranking 13th in the previous three full years, data shows. HSBC led junk bond underwriting in Asia, excluding Japan, last year and says 12 of its 19 deals came from commercial bank clients, or 58 per cent of the US$2.3 billion it managed in US dollars, euro and yen. Last week, it handled offerings by Citic Pacific and Sunac China.

4 Apr 2013 - 3:35am

China PMI factory data points to broader recovery

China's official purchasing managers’ index (PMI) hit 50.9 in March, the highest since April last year when the figure stood at 53.3. Photo: Xinhua

China's factory activity rose to an 11-month high last month, but economists say external headwinds and new domestic property curbs will add uncertainties to growth.

2 Apr 2013 - 4:57am

Sacked insurance staff stage protest at HSBC offices in Shanghai

HSBC Life Insurance fired its sales team of about 130 staff. Photo: AFP

HSBC Life Insurance, a 50-50 joint venture with National Trust, fired its sales team of about 130 staff in what the largest bank in Europe said was a plan to focus on bancassurance.

21 Mar 2013 - 5:33am

HSBC takes Sevens "banking holiday"

Announcing ceremony of men's and women's squads for Hong Kong Sevens at King's Park. Group picture of men's team. Photo: Edward Wong

I’m old enough to remember when the Hong Kong Rugby Sevens was, well, about Rugby Sevens. There was a bit of 10s thrown in, but that was just the warm-up for the real thing.

20 Mar 2013 - 3:38pm 1 comment

HSBC unit faces fraud charges in Argentina

Argentina's government tax chief, Ricardo Echegaray, said several companies evaded taxes amounting to HK$339.27 million under fraudulent transactions through HSBC. Photo: AP

Argentina's regulatory agency has filed criminal charges against the local unit of HSBC for helping private companies evade tax and launder money. Ricardo Echegaray, the director of Argentina's federal tax agency AFIP, said a six-month investigation revealed evidence that several companies evaded taxes amounting to 224 million pesos (HK$339.27 million) and laundered 392 million pesos under fraudulent transactions through HSBC Argentina, Reuters reported, citing a news conference in Buenos Aires.

20 Mar 2013 - 4:35am