HSBC

This article needs to be cleaned up to conform to a higher standard of quality.
This article has been tagged since July 2005.
See How to Edit and Style and How-to for help, or this article's talk page.

HSBC Holdings PLC (NYSE: HBC, LSE: HSBA, HKSE: 005, Euronext: HSBC), is one of the largest banking groups in the world. It is headquartered in London, with its head office based in the HSBC Tower, London, a part of the Canary Wharf development in the London Docklands. Its founding member is The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865.

The bank is the third largest corporation in terms of assets ([2]). It reports its numbers in US dollars as 70% of its earnings come from outside the UK. Nearly 40% of its earnings is from operations in Hong Kong. Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by tier 1 capital [3].

HSBC logo

The HSBC logo is derived from the Scottish flag which is the angular cross St. Andrew, the patron saint of Scotland, was crucified upon.

Activities in the United Kingdom

Main article: HSBC Bank UK

HSBC is one of the five largest banks in the United Kingdom, along with Barclays, Royal Bank of Scotland / Natwest, Lloyds TSB and HBOS. Its shares are one of the largest components of the FTSE 100 Index. In traditional City jargon the bank is known as "Honkers and Shankers". HSBC also owns the rail leasing company HSBC Rail (formerly Forward Trust Rail).

Activities in Hong Kong

Main article: Hong Kong and Shanghai Banking Corporation and Hang Seng Bank
The headquarters of HSBC in Hong Kong

HSBC was first established in Hong Kong in March 1865. By the 1880s, the bank was acting as banker to the Hong Kong government under British rule. Prior to diversifying its business into a worldwide financial institution as it is known today through a series of alliances and acquisitions, the business of the Bank was concentrated in the Asian region, particularly in Hong Kong. It once adopted a shorthand of "HongkongBank", which is still a widely used jargon in Hong Kong today.

The Hong Kong headquarters of the HSBC are in Central, Hong Kong, in the HSBC Hong Kong headquarters building. It was designed by British architect Norman Foster, and was the most expensive building in the world for the usable floor area when it was built.

HSBC is one of the three banks which issues banknotes for Hong Kong (the other two being the Bank of China (Hong Kong) and Standard Chartered Bank).

HSBC acquired a controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank.

Activities in Mainland China

Main article: Hong Kong and Shanghai Banking Corporation
The Hong Kong and Shanghai Banking Corporation Limited building on The Bund (with the round dome, currently houses the Shanghai Pudong Development Bank)

HSBC established its Shanghai branch office on 3 April 1865. Aside from the period 1941-1945, in which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. Currently HSBC is located in its own HSBC Tower across the river in the Pudong area of Shanghai.

On 6 August 2004, HSBC announced to pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance.

Activities in the Americas

Canada

Main article: HSBC Bank Canada

HSBC has a strong presence in overseas Chinese communities especially in Vancouver and Toronto in Canada. HSBC Canada is the only Canadian bank with headquarters in British Columbia.

United States

Main article: HSBC Bank USA

HSBC acquired a 51% shareholding in Marine Midland banks of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA. After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from the HSBC Center in Buffalo to 452 Fifth Avenue, New York City — although the official headquarters are in Wilmington, Delaware.

There are some 400 HSBC branches throughout New York State in addition to some 20 to 25 branches in other states, including Florida and California. There was a branch office on the ground floor of the World Trade Center in New York City.

Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. Completed in 1967, this 52-story, 688 ft (209.7 m) highrise provides 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive "Noguchi's Cube" sculpture at its entrance. The tallest building in Buffalo also carries the HSBC name, and is noted for its open entry level, under which the Buffalo Metro Rail passes.

Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. Today, the venue is known as the HSBC Arena.

On March 28, 2003 Household International was acquired by HSBC. The acquisition was controversial: Household International had, in October 2002, settled for $486 million charges of predatory lending by attorneys general in 46 U.S. states. Household International's CEO William Aldinger became the highest-paid director in the United Kingdom, before announcing his departure in February 2005. HSBC is expanding the Household International high-cost consumer financial model to Brazil, India and elsewhere, as reported-on in detail in this weekly HSBC Watch Report by the Fair Finance Watch organization.

Mexico

Main article: Banco Internacional, S.A.

Banco Internacional, S.A., Mexico's fifth largest bank was acquired by HSBC by 2003, changing the company's name to HSBC México, S.A., with presence nationwide. Though the purchase was legal, Banco Internacional, S.A. was known to be involved in money laundring operations, and participated in the infamous Fobaproa, which rescued the banks in the 1994 crisis, at the cost of the Mexican's taxes.

Activities in Continental Europe and Asia

France

Main article: Crédit Commercial de France

Crédit Commercial de France is a wholly owned subsidiary of HSBC, and HSBC is listed on the Paris Stock Exchange.

Turkey

Main article: Demirbank TAS

Demirbank TAS was acquired by HSBC in 2001 following a default of Demirbank.

Saudi Arabia

Main article: HSBC Bank Middle East

Formerly the British Bank of the Middle East.

India

The Mercantile Bank of India, London and China was established in October 1853 in Bombay (now Mumbai). The Mercantile Bank was acquired in 1959 by HSBC.

History of HSBC Holdings plc

  • 1865 - The Hongkong and Shanghai Banking Corporation Limited is established in Shanghai to finance the growing trade between China and Europe. It is incorporated in Hong Kong by special dispensation from the British Treasury under the Hongkong and Shanghai Bank Ordinance 1866.
  • 1959 - acquisition of The British Bank of the Middle East and the Mercantile Bank (based in India).
  • 1965 - Purchase of a controlling interest in Hang Seng Bank of Hong Kong.
  • 1980s - Move into Canadian and Australian markets.
  • 1991 - HSBC Holdings is established; shares are traded on the London and Hong Kong stock exchanges.
  • 1992 - acquisition of Midland Bank in the United Kingdom.
  • 1997 - acquisition of Roberts S.A. de Inversiones of Argentina and Banco Bamerindus of Brazil.
  • 1999 - acquisition of Republic New York; shares are traded on a third stock exchange, the NYSE, as American Depositary Receipts or ADRs.
  • 2000 - acquisition of Crédit Commercial de France; shares are traded on a fourth stock exchange in Paris.
  • 2001 - acquisition of Demirbank TAS of Turkey.
  • 2002 - acquisition of Grupo Financiero Bital, S.A. de C.V. of Mexico.
  • 2003 - acquisition of Household International of the United States.
  • 2003 - November 20, a bomb blast in Istanbul destroyed the bank's head office in Turkey causing several deaths and hundreds of injuries.
  • 2004 - acquisition of The Bank of Bermuda Limited of Bermuda; shares are traded on a fifth stock exchange, the Bermuda Stock Exchange;
  • 2004 - acquisition of Marks & Spencer Retail Financial Services Holdings Ltd.;
  • 2004 - acquisition of 19.9% of the Bank of Communication of Shanghai, China.

This page about HSBC includes information from a Wikipedia article.
Additional articles about HSBC
News stories about HSBC
External links for HSBC
Videos for HSBC
Wikis about HSBC
Discussion Groups about HSBC
Blogs about HSBC
Images of HSBC

The Mercantile Bank was acquired in 1959 by HSBC.
. The Mercantile Bank of India, London and China was established in October 1853 in Bombay (now Mumbai).
. Formerly the British Bank of the Middle East. (ref:Air International April 2005). Demirbank TAS was acquired by HSBC in 2001 following a default of Demirbank. Also ordered are 7 Boeing 777-300 (all delivered), 20 Boeing 777-200 (14 delivered) and 7 Boeing 777-200ER (4 delivered).

Crédit Commercial de France is a wholly owned subsidiary of HSBC, and HSBC is listed on the Paris Stock Exchange. On 17 February 2005 ANA signed a contract for a further 4 Boeing 777-300ER aircraft, to add to 6 previously ordered, the first of which was delivered in October 2004. was known to be involved in money laundring operations, and participated in the infamous Fobaproa, which rescued the banks in the 1994 crisis, at the cost of the Mexican's taxes. This move is part of ANA's continuing plan to become an all-Boeing airline. Though the purchase was legal, Banco Internacional, S.A. ANA has split the order between 30 of the short-range 787-381 and 20 of the long haul 787-881 and during October 2004 announced it had selected Rolls-Royce to supply the engines. Banco Internacional, S.A., Mexico's fifth largest bank was acquired by HSBC by 2003, changing the company's name to HSBC México, S.A., with presence nationwide. Deliveries will begin in 2008.

HSBC is expanding the Household International high-cost consumer financial model to Brazil, India and elsewhere, as reported-on in detail in this weekly HSBC Watch Report by the Fair Finance Watch organization. ANA became the launch customer for the new Boeing widebody, the 787, ordering 50 examples with an option for 50 more during April 2004. Household International's CEO William Aldinger became the highest-paid director in the United Kingdom, before announcing his departure in February 2005. The ANA fleet consists of the following aircraft (at July 2005):. states. See full article: All Nippon Airways destinations. The acquisition was controversial: Household International had, in October 2002, settled for $486 million charges of predatory lending by attorneys general in 46 U.S. The airline employs 12,277 staff (at January 2005).

On March 28, 2003 Household International was acquired by HSBC. [1]. Today, the venue is known as the HSBC Arena. In 2004, facing a surplus of slots due to the construction of new airports and the expansion of Haneda, ANA announced a fleet renewal plan that would replace some of its large aircraft with a greater number of smaller aircraft. Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. Bush's government. The tallest building in Buffalo also carries the HSBC name, and is noted for its open entry level, under which the Buffalo Metro Rail passes. to Narita, Japan became the first plane to fly in the United States once the grounding of all planes in US territory was declared over by President George W.

Completed in 1967, this 52-story, 688 ft (209.7 m) highrise provides 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive "Noguchi's Cube" sculpture at its entrance. After the September 11 attacks of 2001, an ANA 747 flying from Dulles International Airport in Virginia, near Washington D.C. Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. In 1994, ANA started service to Kansai International Airport and in October 1999, it joined the Star Alliance. There was a branch office on the ground floor of the World Trade Center in New York City. ANA continued its expansion of services all over Asia, North America and Europe during the 1990's, and Airbus equipment such as the A320 and A321 was added to the fleet, as was the Boeing 747-481 jet. There are some 400 HSBC branches throughout New York State in addition to some 20 to 25 branches in other states, including Florida and California. Soon after, many cities such as Frankfurt, New York, Los Angeles, London and Paris were added.

After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from the HSBC Center in Buffalo to 452 Fifth Avenue, New York City — although the official headquarters are in Wilmington, Delaware. In 1986, ANA started scheduled international flights with a passenger service from Tokyo to Guam. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA. The Lockheed L-1011 was introduced in 1973, Boeing 747s in 1978, and Boeing 767s in 1983. HSBC acquired a 51% shareholding in Marine Midland banks of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. February 3 of 1971 in particular was a historic date for the airline, when ANA inaugurated its first international service, a charter flight from Tokyo to Hong Kong. HSBC Canada is the only Canadian bank with headquarters in British Columbia. The 1970s saw the beginning of ANA's internationalization.

HSBC has a strong presence in overseas Chinese communities especially in Vancouver and Toronto in Canada. In 1965, ANA introduced jet services with Boeing 727s: these were soon joined by YS-11s, and in 1969, ANA introduced Boeing 737 service. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance. 1963 saw another merger, this one with Fujita Airlines, raising the company's capital to 4 billion yen. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. 1961 marked ANA's debut at the Tokyo Stock Exchange as well as the Osaka Securities Exchange. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. The 1960s was a period of slow but unstoppable growth for the company, when they added the Vickers Viscount to the fleet in 1960, and later Fokker F27s, in 1961.

At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. On 1 December 1957, Far Eastern Airlines, a small competitor, merged with ANA, bringing the airline's total market capitalization to 600 million yen. On 6 August 2004, HSBC announced to pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. That same year, the Douglas DC-3 plane began flying for Japan Helicopters and Aeroplane, and in 1957, the airline changed its name to All Nippon Airways (ANA). Currently HSBC is located in its own HSBC Tower across the river in the Pudong area of Shanghai. A new and profitable route started in 1955 when an inaugural cargo flight began service to Osaka from Tokyo. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. In February 1953, helicopter services were started and passenger charter flights were inaugurated on 15 December 1953.

Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. The airline was established on 27 December 1952 as Nippon Helicopter and Aeroplane. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. . HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. NYK is the major shareholder of Nippon Cargo Airlines. Aside from the period 1941-1945, in which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. On July 12, 2005, ANA reached a deal with NYK to sell its 27.6% share in Nippon Cargo Airlines, in order to pursue its own cargo division expansion.

HSBC established its Shanghai branch office on 3 April 1865. Also in 2004, ANA became the majority shareholder in Nakanihon Airline Service (NAL) headquartered in Nagoya Airport and in 2005 renamed and relocated it to Air Central headquartered in Chubu Centrair International Airport. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. In 2004, ANA set up a low-cost subsidiary, Air Next, to operate flights from Fukuoka Airport starting in 2005. HSBC acquired a controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. ANA's associate companies in Tokyo include Nippon Cargo Airlines (NCA) and Air Nippon, ANA's former regional airline which now handles charter flights for ANA. HSBC is one of the three banks which issues banknotes for Hong Kong (the other two being the Bank of China (Hong Kong) and Standard Chartered Bank). Its main domestic hubs are at Tokyo International Airport, Osaka International Airport, Chubu Centrair International Airport (near Nagoya), and New Chitose Airport (near Sapporo).

It was designed by British architect Norman Foster, and was the most expensive building in the world for the usable floor area when it was built. Its alternate International hub is at Kansai International Airport in southern Osaka, Japan. The Hong Kong headquarters of the HSBC are in Central, Hong Kong, in the HSBC Hong Kong headquarters building. ANA's main international hub is at Narita International Airport outside Tokyo. It once adopted a shorthand of "HongkongBank", which is still a widely used jargon in Hong Kong today. lt is often known by the abbreviation ANA, which is popularly used as an acronym in Japanese. Prior to diversifying its business into a worldwide financial institution as it is known today through a series of alliances and acquisitions, the business of the Bank was concentrated in the Asian region, particularly in Hong Kong. Formerly Japan's largest domestic carrier, it is now the country's second-largest domestic and international carrier, after Japan Airlines.

By the 1880s, the bank was acting as banker to the Hong Kong government under British rule. All Nippon Airways (全日空 Zennikkū or 全日本空輸 Zen-nippon kūyu) (TYO: 9202) is an airline headquartered in Tokyo, Japan. HSBC was first established in Hong Kong in March 1865. ANA Passenger Opinions. HSBC also owns the rail leasing company HSBC Rail (formerly Forward Trust Rail). ANA Fleet Detail. In traditional City jargon the bank is known as "Honkers and Shankers". All Nippon Airways.

Its shares are one of the largest components of the FTSE 100 Index. Featured in a Taito flight simulator arcade game called Landing High Japan in 1999. HSBC is one of the five largest banks in the United Kingdom, along with Barclays, Royal Bank of Scotland / Natwest, Lloyds TSB and HBOS. Special painted jets: 5 Pokémon jets (a Boeing 747-481 for international service, and 3 Boeing 747-481D and a Boeing 767-381 for domestic service), 4 Star Alliance jets, and one Woody jet in affiliation with USJ, the Universal Studios theme park in Osaka [2]. . ANA is the official airline of Universal Studios Japan. Andrew, the patron saint of Scotland, was crucified upon. Skynet Asia Airways (minor shareholding).

The HSBC logo is derived from the Scottish flag which is the angular cross St. Air Hokkaido (80% shareholding). It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by tier 1 capital [3]. ANA Cargo. Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. Nippon Cargo Airlines (27.59% shareholding; to be sold by October 2005). Nearly 40% of its earnings is from operations in Hong Kong. Air Central (55% shareholding).

It reports its numbers in US dollars as 70% of its earnings come from outside the UK. Air Japan. The bank is the third largest corporation in terms of assets ([2]). Air Next. Its founding member is The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865. Air Nippon Network (A-net). It is headquartered in London, with its head office based in the HSBC Tower, London, a part of the Canary Wharf development in the London Docklands. Air Nippon.

HSBC Holdings PLC (NYSE: HBC, LSE: HSBA, HKSE: 005, Euronext: HSBC), is one of the largest banking groups in the world. 9 De Havilland Canada Dash 8 Q400. 2004 - acquisition of 19.9% of the Bank of Communication of Shanghai, China. 5 De Havilland Canada Dash 8 Q300. 2004 - acquisition of Marks & Spencer Retail Financial Services Holdings Ltd.;. 9 Boeing 777-300. 2004 - acquisition of The Bank of Bermuda Limited of Bermuda; shares are traded on a fifth stock exchange, the Bermuda Stock Exchange;. 19 Boeing 777-200.

2003 - November 20, a bomb blast in Istanbul destroyed the bank's head office in Turkey causing several deaths and hundreds of injuries. 52 Boeing 767-300. 2003 - acquisition of Household International of the United States. 23 Boeing 747-400. of Mexico. 3 Boeing 747-200. de C.V. 27 Boeing 737-400 & -500.

2002 - acquisition of Grupo Financiero Bital, S.A. 7 Airbus A321-100. 2001 - acquisition of Demirbank TAS of Turkey. 26 Airbus A320-200. 2000 - acquisition of Crédit Commercial de France; shares are traded on a fourth stock exchange in Paris. He was subdued by other crew members, and nobody else on the airplane was hurt. 1999 - acquisition of Republic New York; shares are traded on a third stock exchange, the NYSE, as American Depositary Receipts or ADRs. In 1999, a man hijacked All Nippon Airways Flight 61 and killed the pilot.

de Inversiones of Argentina and Banco Bamerindus of Brazil. In March of 1971, a Boeing 727, registration JA8329, collided with a JASDF F-86 fighter stationed at Matsushima Air Base. 1997 - acquisition of Roberts S.A. An ANA YS-11 crashed shortly afterward. 1992 - acquisition of Midland Bank in the United Kingdom. In 1966, an ANA Boeing 727 was landing in Tokyo when it crashed into Tokyo Bay, with the loss of all passengers. 1991 - HSBC Holdings is established; shares are traded on the London and Hong Kong stock exchanges. In 1960, another DC-3, registration JA5018, was lost.

1980s - Move into Canadian and Australian markets. ANA's first crash occurred in 1958, when a Douglas DC-3, registration JA5045, crashed. 1965 - Purchase of a controlling interest in Hang Seng Bank of Hong Kong. Callsign: All Nippon. 1959 - acquisition of The British Bank of the Middle East and the Mercantile Bank (based in India). ICAO Code: ANA. It is incorporated in Hong Kong by special dispensation from the British Treasury under the Hongkong and Shanghai Bank Ordinance 1866. IATA Code: NH (from its former name Nippon Helicopter).

1865 - The Hongkong and Shanghai Banking Corporation Limited is established in Shanghai to finance the growing trade between China and Europe.