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HSBC Holdings

(World’s Local Bank)

Submitted by:
ANIKET(96),
SUMEET(97),
SHRI(98),
KISHORI(99),
ANANT(100).

Introduction:
HSBC Holdings plc is a global financial services corporation headquartered in
London, UK. As of 2010, it is both the world's largest banking and financial
services group and the world's 8th largest company according to a composite
measure by Forbes magazine. HSBC was founded(in 1865) as The Hongkong
and Shanghai Banking Corporation and Hong Kong served as the bank's
headquarters until 1992 when it moved to London as a condition of completing
the acquisition of Midland Bank.Total no. of employees is 302,000.

Founder of Hsbc is sir, Sir Thomas Sutherland.

Promoter of HSBC:
Michael Geoghegan is the present CEO of HSBC, he joined HSBC in 1973 and
was appointed the CEO in 2006.He was Born in Windsor, UK, and was educated
in the United Kingdom and Ireland. Geoghegan is paid an annual salary of
£1,070,000. In June 2003 he was honoured with a CBE (Commander of the
British Empire) by Her Majesty The Queen in recognition of his contribution to
British business interests in Brazil. He has got two sons.

Mr Geoghegan is Chairman of Young Enterprise UK which seeks to give students


business experience while still in full-time education. HSBC has supported Young
Enterprise for over 20 years as part of its commitment to financial education,
and has 1,500 employees who volunteer their time for the organisation in
schools across the UK.

HSBC Products:

• Finance and insurance.


• Consumer Banking.
• Corporate Banking.
• Investment Banking.
• Investment Management.
• Global Wealth Management.
• Private Equity.
• Mortgages.
• Credit Cards.

Chronology of overseas expansion:

HSBC Holdings, which gave HSBC a substantial presence in the UK, was
completed in 1992. As part of the takeover conditions for the purchase of
Midland, HSBC was required to move its world headquarters from Hong Kong to
London in 1993.

Major acquisitions in South America started with the purchase of Banco


Bamerindus of Brazil for $1bn in March 1997 and the acquisition of Roberts SA
de Inversiones of Argentina for $600m in May 1997.
In May 1999 HSBC embarked on a major acquisition in the United States with
the purchase of Republic National Bank of New York for $10.3bn.
Expansion into Continental Europe took place in April 2000 with the acquisition
of Crédit Commercial de France, a large French bank for £6.6bn.In July 2001
HSBC bought Demirbank, an insolvent Turkish bank. Then in August 2002 HSBC
acquired Grupo Financiero Bital, SA de CV, Mexico's third largest retail bank for
$1.1bn.The new headquarters of HSBC Holdings at 8 Canada Square, London
officially opened in April 2003.Then in September 2003 HSBC bought Polski
Kredyt Bank SA of Poland for $7.8m.In June 2004 HSBC expanded into China
buying 19.9% of the Bank of Communications of Shanghai .In the United
Kingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltd
for £763m in December 2004.Acquisitions in 2005 included Metris Inc, a US
credit card issuer for $1.6bn in August and 70.1% of Dar Es Salaam Investment
Bank of Iraq in October . In April 2006 HSBC bought the 90 branches in
Argentina of Banca Nazionale del Lavoro for $155m.In December 2007 HSBC
acquired The Chinese Bank in Taiwan.In May 2008 HSBC acquired IL&FS
Investment, an Indian retail broking firm.

Subsidiaries:

• Latin America

HSBC Mexico SA
HSBC Bank Brazil SA, Banco Multiplo
HSBC Bank Argentina SA.

• Asia Pacific

The Hongkong and Shanghai Banking Corporation Ltd


Hang Seng Bank Ltd
HSBC Bank (China) Company Ltd
HSBC Bank Malaysia Berhad

• Middle East

HSBC Bank Middle East Ltd


HSBC Bank Egypt SAE
The Saudi British Bank

• North America

HSBC Bank USA Inc


HSBC Finance Corporation
HSBC Bank Canada

• Europe

HSBC Bank plc


HSBC France
HSBC Trinkaus und Burkhardt AG
HSBC Private Bank (UK) Ltd
HSBC Bank Polska S.A.
Financial details:( Year 2009)

HSBC’s Revenue for 2009 was $103.74 billion which is less as compare to
previous year and the Operating income was $7.079 billion. Profit for was
$5.834 billion.Total assets of HSBC in the year 2009 were calculated at $2.364
trillion. Total equity $128.299 billion.

HSBC increased its share of the mortgage market by only 3% in the first six
months of this year.