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  (Chinese: Ã { is a global financial services


company headquartered in Canary Wharf, London, United Kingdom.[3] As of 2010 it is
the world's sixth-largest banking and financial services group and eighth-largest
company according to a composite measure by -  magazine.[6][7] It has around
8,000 offices in 91 countries and territories across Africa, Asia, Europe, North America
and South America and around 100 million customers. [4][8] As of 30 June 2010 it had
total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the
Americas and a quarter in Asia.[5]

HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai
Banking Corporation to act as a new group holding company and to enable the
acquisition of UK-based Midland Bank.[1] The origins of the bank lie in Hong Kong and
Shanghai, where branches were first opened in 1865.[2] Today HSBC remains the largest
bank in Hong Kong, and recent expansion in mainland China, where it is now the
largest international bank, has returned it to that part of its roots.[8][9]

HSBC is a universal bank and is organised within four business groups: Commercial
Banking; Global Banking and Markets (investment banking{; Personal Financial
Services (retail banking{; and Private Banking.[10]

HSBC's primary listing is on the London Stock Exchange and it is a constituent of the
FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange (where it
is a constituent of the Hang Seng Index{, the New York Stock Exchange, Euronext Paris
and the Bermuda Stock Exchange. As of August 2010, it was the largest company listed
on the London Stock Exchange, with a market capitalisation of £115.8 billion. [11]

 

[hide]

 1 History
| 1.1 Development of the bank
| 1.2 Subprime crisis
| 1.3 Government intervention
 2 Operations
| 2.1 Corporate profile
| 2.2 Australia
| 2.3 South America
| 2.4 Asia
| 2.5 Asia Pacific
| 2.6 Europe
| 2.7 Africa/Middle East
| 2.8 North America
 3 Global product lines and programmes
| 3.1 Group Service Centres
| 3.2 HSBC Private Bank
| 3.3 HSBC Premier
| 3.4 HSBC Advance
| 3.5 HSBC Bank International
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For the history of the HSBC Group prior to the founding of HSBC Holdings in 1990,
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In the United Kingdom HSBC acquired Marks & Spencer 3etail Financial Services
Holdings Ltd for £763m in December 2004.[21]

Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6bn in
August [22] and 70.1% of Dar Es Salaam Investment Bank of Iraq in October.[23]

In April 2006 HSBC bought the 90 branches in Argentina of Banca Nazionale del
Lavoro for $155m. [24]

In December 2007 HSBC acquired The Chinese Bank in Taiwan.[25]

In May 2008 HSBC acquired IL&FS Investment, an Indian retail broking firm.[26]

     



In November 2002 HSBC expanded further in the United States. Under the
chairmanship of Sir John Bond, it spent £9bn (US$15.5bn{ to acquire Household
Finance Corporation (HFC{, a US credit card issuer and subprime lender.[27] In a 2003
cover story, X   noted (when banking historians look back, they may conclude
that [it] was the deal of the first decade of the 21st century(.[28] Under the new name of
HSBC Finance, the division was the second largest subprime lender in the US. [29]

In March 2009, HSBC announced that it would shut down the branch network of its
HSBC Finance arm in the U.S., leading to nearly 6,000 .ob losses and leaving only the
credit card business to continue operating.[30][31]

Chairman Stephen Green stated, (HSBC has a reputation for telling it as it is. With the
benefit of hindsight, this is an acquisition we wish we had not undertaken.(;[32] analyst
Colin Morton said, (the takeover was an absolute disaster(.[31][33]

Although it was at the centre of the subprime storm, the wider group has weathered the
financial crisis of 2007±2010 better than other global banks. According to Bloomberg,
(HSBC is one of world¶s strongest banks by some measures.([34] When HM Treasury
required all UK banks to increase their capital in October 2007, the group transferred
£750 million to London within hours, and announced that it had .ust lent £4 billion to
other UK banks.[35] In March 2009, it announced that it had made US$9.3bn of profit in
2008 and announced a £12.5bn (US$17.7bn; HK$138bn{ rights issue to enable it to buy
other banks that were struggling to survive.[36] However, uncertainty over the rights'
issue's implications for institutional investors caused volatility in the Hong Kong stock
market: on 9 March 2009 HSBC's share price fell 24.14%, with 12 million shares sold
in the last few seconds of trading.[37]

       

In 2010 the French government's Autorité de la concurrence (the department in charge


of regulating competition{ fined eleven French banks, including HSBC, the sum of
384,900,000 Euros for colluding to charge un.ustified fees on check processing
(¼9,050,000 for HSBC{, especially for extra fees charged during the transition from
paper check transfer to (Exchanges Check-Image( electronic transfer.[38][39]
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· HSBC Bank Australia
· HSBC Trustee (CI), Ltd.,

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· HSBC Bank Brazil SA, Banco Multiplo
· HSBC Bank Argentina SA
· HSBC Bank Peru SA
· HSBC Bank Chile SA
· HSBC Bank Uruguay SA
· HSBC Bank Paraguay SA
· HSBC Bank Colombia SA

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· HSBC Armenia
· HSBC Bangladesh
· HSBC Brunei
· cSC ank Inda
· HSBC Indonesia
· HSBC Sri Lanka
· HSBC Pakistan

[edt Asa Pacfc


· The congkong and Shangha ankng Copoaton Ltd
· Hang Seng Bank Ltd
· HSBC Bank (China) Company Ltd
· HSBC Bank Malaysia Berhad

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· HSBC Global Assets Management Austria
· HSBC plc, Belgium
· HSBC Bank Armenia
· HSBC France
· HSBC Trinkaus und Burkhardt AG
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· HSBC Private Bank (UK) Ltd
· HSBC Bank Polska S.A.
· HSBC Bank A.Ş.
· HSBC Bank Malta Plc
· HSBC Bank Kazakhstan

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· HSBC Algeria
· HSBC Bank Egypt SAE
· cSC ank Mdde East Ltd
· The Saudi British Bank
· HSBC Bank Kuwait
· HSBC Bahrain

[edt Noth Aeca


· The Hongkong and Sanghai Banking Corporation Ltd.,Bahamas
· HSBC Bermuda
· HSBC International Trustee (BVI) Ltd.
· HSBC Bank Cayman
· cSC ank USA Inc
· HSBC Finance Corporation
· HSBC Bank Canada
· cSC Mexco SA

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HSBC Advance[52] is the group's product aimed at Working professional. The exact
benefits and qualifications vary depending on country, but typically require a transfer of
Salary of USD 1,500 or more every month or Maintain USD 25,000 of deposits in a
Savings/Current Account or investments. Advantages include and may vary depending
on country this include Day-today banking services included but not limited to Platinum
Credit Card, Advance ATM Card, Current Account and Savings Account. Protection
plans and Financial Planning Services. A HSBC Advance customer enables the
customer to open accounts in another country and transfer their credit history.

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HSBC Bank International[53] is the offshore banking arm of the HSBC Group, focusing
on providing offshore solutions and cross border services to expatriates and migrants. It
provides a full range of multi-currency personal banking services to a range of customer
segments, including a full internet banking and telephone banking service. Sometimes
referred to as (HSBC Offshore(, the business also offers independent financial planning,
and has representative offices all over the world, often working alongside local HSBC
operations in those regions.

HSBC Bank International originated from the business started by Midland Bank and is
based in the Channel Islands with further operations on the Isle of Man. Its operations in
the Channel Islands are centred around its registered headquarters on the seafront in St
Helier, Jersey. Named 'HSBC House', the building comprises departments such as
Premier, Global Funds & Investments, e-Business and a 24 hour 'Direct Banking
Centre'.

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HSBCnet[54] is a global service that caters to local business needs by offering


specialised functionality for different regions worldwide.

The system provides access to transaction banking functionality - ranging from


payments and cash management to trade services features - as well as to research and
analytical content from HSBC. It also includes foreign exchange and money markets
trading functionality.

The system is used widely by HSBC's high-end corporate and institutional clients
served variously by the bank's global banking and markets, commercial banking and
global transaction banking divisions.

HSBCnet is also the brand under which HSBC markets its global e-commerce
proposition to its corporate and institutional clients.

HFC Bank (UK Operation{ is a wholly owned subsidiary, with 135 High Street
branches in the UK selling loans to the (sub-prime( market. During 2007 and 2008, it
has been trying to fend off a union recognition campaign by the Trade Union Unite.

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HSBC¶s other sponsorships are mainly in the area of education, health and the
environment. In November 2006, HSBC announced a $5 million partnership with SOS
Children as part of Future First.[59]

HSBC sponsors the Great Canadian Geography Challenge, which has had around 2
million participants in the past 12 years. Since 2001, HSBC has sponsored the
Celebration of Light, an annual musical fireworks competition in ancouver, British
Columbia, Canada. In 2007 HSBC announced it would be a sponsor of the National
Hockey League's ancouver Canucks and Calgary Flames. HSBC has also sponsored a
professional gaming team that was disbanded late 2007.

HSBC sponsored the 2009 British and Irish Lions tour to South Africa.[60]

HSBC is the official banking partner of the Wimbledon Tennis Championships,


providing banking facilities on site and renaming the 3oad to Wimbledon .unior event,
as The HSBC 3oad to Wimbledon National 14 and Under Challenge.[61]

HSBC was named the 'Official Banking Partner' of The Open Championship, in a five
year deal announced in 2010.[62]

 
   

HSBC splits its business into four distinct groups:

 
 
  


HSBC provides more than 100 million customers worldwide with a full range of
personal financial services, including current and savings accounts, mortgage loans, car
financing, insurance, credit cards, loans, pensions and investments.

    

HSBC provides financial services to small, medium-sized and middle-market


enterprises. The group has more than 3 million of such customers, including sole
proprietors, partnerships, clubs and associations, incorporated businesses and publicly
quoted companies.

    




Global Banking and Markets is the investment banking arm of HSBC. It provides
investment banking and financing solutions for corporate and institutional clients,
including corporate banking, investment banking, trade services, payments and cash
management, and leveraged acquisition finance. It provides services in credit and rates,
foreign exchange, money markets and securities services, in addition to asset
management services.

Global Banking and Markets has offices in more than 60 countries and territories
worldwide, and describes itself as (emerging markets-led and financing-focused(.[63]
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