incorporated in England and Wales, headquartered in London. As of 2008, it is both the world's largest banking group and the world's largest company according to a composite measure by Forbes magazine. The group was founded from The Hongkong and Shanghai Banking Corporation, the acronym of which led to the current name. Today, whilst Hong Kong still continues to be a significant source of income for the group, no single geographical area dominates earnings. Recent acquisitions and expansion in China are returning HSBC to part of its roots. HSBC is Europe's biggest bank and has an enormous operational base in Asia and significant lending, investment, and insurance activities around the world. HSBC is one of the oldest banking groups in the modern world. After the establishment of Hong Kong as a British colony in the aftermath of the Opium War, a bank was needed to finance the growing trade between China and Europe. Its main and foundation-laying subsidiary The Hongkong and Shanghai Banking Corporation was established in Hong Kong and Shanghai in 1865. Before 1998 it was also known colloquially as "Hongkong Bank" (by tradition "Hong Kong" always spelled as one word). In 1990 HSBC wanted to change its domicile to UK and hence purchased Midland Bank. Shares in HSBC Holdings were first listed on the London Stock Exchange and Hong Kong Stock Exchange in 1991. The acquisition of Midland Bank giving HSBC a substantial presence in the UK was completed in 1992. 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 largest retail bank for $1.1bn. The new headquarters of HSBC Holdings at 8 Canada Square, London officially opened in April 2003. In November 2002 HSBC expanded in the United States acquiring Household International, a US credit card issuer for £9bn. Then in September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $7.8bn. A terrorist attack took place in November 2003: a bomb blast in Istanbul damaged the bank’s head office in Turkey, causing several deaths and hundreds of injuries. In October 2003 HSBC bought the Bank of Bermuda for $1.3bn. In June 2004 HSBC expanded into China buying 19.9% of the Bank of Communications of Shanghai. Most recently in China, HSBC declined to repurchase its former corporate headquarters on the Shanghai Bund from the Shanghai Pudong Development Bank, which now occupies the magnificent, restored building. 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. Later that year, in July HSBC bought Grupo Banistmo, the largest financial services company in Central America, based in Panama for $1.8bn. In December 2007 HSBC acquired The Chinese Bank in Taiwan. In May 2008 HSBC acquired IL&FS Investment, an Indian retail broking firm. The Hongkong and Shanghai Banking Corporation Limited IN 1959 HSBC acquired The Mercantile Bank of India, London and China, established in October 1853 in Bombay (now Mumbai). 1990.HSBC is now one of the fastest growing foreign banks in India, both in domestic banking and support operations for worldwide operations. This was originally adopted by The Hongkong and Shanghai Banking Corporation as its logo in 1983. It was developed from the bank’s house flag, a white rectangle divided diagonally to produce a red hourglass shape. Like many other Hong Kong company flags that originated in the 19th century, and because of its founder's nationality, the design was based on the cross of Saint Andrew. The logo was designed by graphic artist Henry Steiner. Having sponsored the Jaguar Racing Formula One team since the days of Stewart Grand Prix, HSBC ended its relationship with the sport when Red Bull purchased Jaguar Racing from Ford. HSBC has now switched its focus to golf, taking title sponsorship of events such as the HSBC World Match Play Championship, HSBC Champions and HSBC Women's Champions. In football HSBC sponsors French club AS Monaco and Mexican club CF Pachuca, and in rugby league, HSBC sponsors Telford Raiders in the Rugby League Conference. In Australia, HSBC sponsors the New South Wales Waratahs rugby team in the Super 14 rugby union competition, as well as the Hawthorn Football Club in the Australian Football League. In the United States, HSBC owns the naming rights to the home arena of the National Hockey League's Buffalo Sabres until 2026. 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. 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 Vancouver, British Columbia, Canada. In 2007 HSBC announced it would be a sponsor of the National Hockey League's Vancouver Canucks and Calgary Flames. HSBC has also sponsored a professional gaming team that was disbanded late 2007. HSBC will sponsor the British and Irish Lions on the 2009 tour of South Africa. HSBC is the official banking partner of the Wimbledon Tennis Championships, providing banking facilities on site and renaming the Road to Wimbledon junior event, as The HSBC Road to Wimbledon National 14 and Under Challenge.