Address: GPO Box64, 1Queen'5Rad Central, Hong Kong HSBC, referred to as HSBC, is the largest commercial bank in Hong Kong, the largest commercial bank in Asia outside Japan, and one of the largest multinational banks in the world. . In 1995, the bank's assets were US$344 billion, ranking 31st among the world's largest banks, with deposits of US$81.837 billion, capital and reserves of US$100 million, a Tier 1 capital ratio of 9.4%, and a total capital ratio of 14.5%. (1999 Five years and June) employs 100,000 employees, with its head office in Hong Kong.
HSBC was established in Hong Kong in 1864 to provide financing services to companies trading with China. It started business in 1865 and set up a branch in Shanghai in the same year, and later branches in Tianjin, Beijing, Hankou, Chongqing and other places. The bank was founded by the English or rather the Scots. It was an institution through which British capital carried out economic aggression against old China and controlled the financial market of old China. It issued banknotes in China and monopolized the foreign exchange market. After 1911, it obtained the deposit rights of customs and salt taxes, and led the imperialist banking group to lend to China, providing aggressive political loans and economic loans such as railways and mines. After liberation, the bank's branches in China were closed successively except for the Shanghai branch, which was allowed to operate foreign exchange business by the Chinese government. HSBC stepped up its overseas activities in its early years. In 1866, the bank established its first branch in Japan and opened its first bank in Thailand. In 1880 the bank founded the first British bank in New York. At the turn of the 19th and 20th centuries, HSBC established more branches in the Philippines, Singapore, Sri Lanka, India and Malaysia. During this period, the bank also established branches in London, Lyon, Hamburg and other places. HSBC has been the longest-running British bank in the United States, France and Germany.
After the Second World War, Hong Kong’s economic development was quite outstanding. According to calculations by the World Bank, the average annual growth rate of Hong Kong's GDP was 8.5% from 1965 to 1980, and 5.9% from 198O to 1985. In 1985, Hong Kong's per capita GDP reached US$6,230, surpassing Spain and Ireland and approaching the level of Italy. Hong Kong has become an emerging industrialized region. HSBC played a major role in the reconstruction of Hong Kong after the war. Its flexible credit policy contributed to Hong Kong's prosperity in the post-war years. In this process, HSBC's strength is also gradually increasing. In the late 1950s, it acquired the Middle East British Bank, founded in 1869 and the largest foreign bank in the Arab world, thereby establishing a stronghold in the Middle East. It then acquired India's oldest Bank of India, Marbital Bank, thereby spreading a network of dominance across the Indian subcontinent. When Hong Kong's financial sector was in turmoil in the 1960s, HSBC established Waifugong Financial Company in 1961 to provide installment loans to small commercial banks and mortgage financing to private individuals. In 1965, the bank annexed Hong Kong's second largest bank, Hang Seng Bank, which further strengthened the bank's business activities in exchange business, financial trading and other aspects, thus firmly controlling the Hong Kong economy. Since the 1970s, HSBC has continued to open branches and stepped up its merger activities. For example, in 1972, the bank established Hudoli Co., Ltd., which specialized in merchant banking business. In 1980, it acquired more than half of the equity of SITC Bank, the 17th largest commercial bank in the United States. In 1981, it opened HSBC Canada in Vancouver. In 1969, HSBC's assets were US$3.032 billion, ranking 82nd among the world's largest banks. In 1979, its assets were US$22.021 billion, ranking 76th. Since the 1980s, the bank's business performance has been promising and it has conducted extensive investment and acquisition activities overseas. For example, in the United States, HSBC owns a 76% stake in ARROLLMCENTEE & McGNLFV, a company that operates U.S. Treasury bonds. On the basis of its original 51% stake in SITC, it decided to use HK$5 billion in July 1987. With the acquisition of the remaining shares of HSBC Bank, HSBC became the largest foreign bank in the United States. In Canada, HSBC became Canada's third largest foreign bank in 1986 due to its acquisition of the Bank of British Columbia. In London, the bank owns 100% of the shares of London's largest securities brokerage, Jim Po.
In Australia, the bank operates in partnership with local securities broker RENF RIVKIN. In 1980, the bank's assets were US$46.543 billion, ranking 33rd among the world's largest banks. In 1982, it ranked 24th. Since then, its status among the world's largest banks has declined. In 1985, its assets were 688.16 billion US dollars. billion, ranking 30th among the world’s largest banks. In 1986, the bank's assets increased by 31.6% compared with 198S, deposits increased by 32.5%, and capital and reserves increased by 21.2%. This year, among the bank's assets (excluding contra accounts), cash and short-term accounts accounted for 26.1%, bank deposits due within 12 months accounted for 8.3%, and discounted drafts and bank certificates of deposit accounted for 3%. 8%, investment accounts for 5.3%, other accounts 6.9%, fixed assets account for 3.3%, and loans account for 46.3%, of which industrial, commercial and international trade loans account for 15.9%, individuals account for 6.7%, financial institutions account for 3.4%, and real estate accounts for 11.2% %, shipping accounted for 1.1%, and others (including public utilities and hire purchase, etc.) accounted for 8.0%.
The main reasons why HSBC holds a dominant position in Hong Kong's economy are: first, Hong Kong does not have a central bank. In fact, HSBC has some functions of a central bank, including the issuance of banknotes. The bank is also a major member of the Banking Advisory Committee of the British Hong Kong authorities, and its opinions on financial policies play a decisive role.
Second, HSBC's strength occupies an overwhelming position in Hong Kong's financial and industrial circles, and it continues to strengthen its dominance through powerful British and Chinese companies. The HSBC Group is a large-scale, well-capitalized financial group, including The Hongkong and Shanghai Banking Corporation and its numerous subsidiaries and participating banks. According to the nature of their business, they can be divided into commercial banks, merchant banks, investment management companies, transportation companies, securities service companies, financial companies, insurance companies, financial companies and other professional financial institutions. The group's clients range from individuals, small businesses to multinational corporations and government departments. With their independent operations and the latest banking technology, the institutions affiliated to the group provide rich experience in their respective markets and professional fields, ensuring that customers receive quick decision-making and high-quality services.
1. Commercial banks
In addition to the parent company HSBC, the commercial banks affiliated to the group also include: Hang Seng Bank. The bank's general management office is located in Hong Kong and has offices in Nassau and New York. Its capital and reserves in 1986 were HK$4.367 billion, of which HSBC held 61.48%.
SITC Bank. The bank's general management office is located in the United States and has offices in Panama, Argentina, Brazil, Chile, Colombia, Hong Kong, Mexico, the Philippines, and Venezuela. In 1986, its capital and reserves were US$136.9 billion, of which HSBC held 51.05 %.
The Middle East is not listed in the frequency root row. The bank's general management office is located in Hong Kong, with branches throughout Malaysia, Bahrain, Djibouti, India, Jordan, Lebanon, Oman, Qatar, Switzerland, the United Arab Emirates, and the United Kingdom. In 1986, its capital and reserves were 174 million pounds, all of which were HSBC Bank holds.
There are also HSBC Australia, HSBC Canada, National Bank of Cyprus, HSBC Egypt, HSBC International, Saudi Arabian Bank, etc.
The above-mentioned banks provide various services of commercial banks, that is, they provide customers with short, medium and long-term banking facilities and all usual services including investment consulting, securities trading and issuance business. In Hong Kong, HSBC issues about 80% of banknotes on behalf of the British Hong Kong authorities. The bank is a member of the World Interbank Financial Telecommunications Group. In recent years, the bank has strengthened its presence in Hong Kong's financial market by launching a state-of-the-art electronic banking service system that provides a wide range of comprehensive financial services directly to corporate customers' own computers. advantages. Facing competitive pressure from all aspects of Laiqi, HSBC is actively improving various services.
2. Merchant Bank
Hutto Lee Limited. The company was founded in Hong Kong in 1972 and specializes in merchant banking services, including corporate finance, special financing, consulting services and fund management.
At present, WTO is a leading merchant bank in Hong Kong, and its subsidiaries in the Middle East and Oceania, such as WTO Middle East Limited, WTO Australia Limited, and WTO New Zealand Limited, have become major merchants in the region. bank.
Equator Bank. The bank's general management office is located in Nassau and focuses on developing the African market. HSBC holds 83.3% of the capital.
North Korea International Merchant Bank. The bank is based in Seoul and plays an important role in Asia's emerging merchant banking market.
Zhan Jinbao Company. The company has its general management office in London and has branches in Japan, Jersey, Hong Kong, Singapore and the United States. The company is one of the London stock brokerage houses, a leader in the British government securities market, and also has strong data research and trading capabilities in the international stock market. In 1986 the company became a wholly-owned subsidiary of HSBC and became the backbone of the banking group's merchant banking business in London.
3. Investment Management Company
CM&M Group. The group is located in New York and has the ability to fully operate the capital market. It is also one of the major participants in the US securities market. HSBC holds 76.01% of the capital.
There are also Hudoli International Management Co., Ltd. and Hudoli Investment Services Co., Ltd. in Hong Kong, Hudoli Investment Management Co., Ltd. in Melbourne, and Hudoli Investment Services UK Co., Ltd. in London. Hudoli.Marina International Investment Management Limited Activities. Since then, the bank has opened four more offices in Beijing, Shenzhen, Wuhan and Xiamen, and later expanded it into a representative office. In August 1985, the Shenzhen representative office was upgraded to a branch that handles all banking services. This was the first branch of a foreign bank newly established in my country after the birth of New China.
Currently, HSBC has participated in more than 200 construction projects in my country, including the equipment updating of factories, hotels, airports and modern farms, as well as providing ship financing. The bank also continues to finance trade with my country through its offices in Hong Kong. In general, the services currently provided by the bank related to my country include: providing consultation on the financing and evaluation of various projects, providing trade financing facilities, assisting in solving some problems in trade with my country, and providing market conditions, trade practices and documents Consulting and rapid introduction to Chinese trading companies, providing information on new trade and investment projects through monthly publications, publishing on China's economic environment and business development trends, statistical reviews, industrial overviews and preparations for companies and visiting groups Brief introductory information.
In order to provide more flexible services to customers, the bank established a new subsidiary, HSBC China Services Co., Ltd., and established a professional consulting agency for China in London, with offices in Singapore and A China desk has been established in the New York branch, which works closely with the China regional office in Hong Kong.
The services provided by HSBC Shanghai Branch are also diverse. Regarding my country's exports, the Shanghai Branch provides consultation on documentary letters of credit, bill negotiation and discounted bills to Shanghai and other regions, and handles export bills on a collection basis.
In terms of imports in my country, the Shanghai Branch can issue import documentary letters of credit on behalf of foreign companies registered in my country, Hong Kong companies and Macao companies registered in my country, as well as Sino-foreign joint ventures in my country, and process import documents to Import documentary collection drawn by any institution in my country also handles credit business within the HSBC Group members.
In terms of cash accounts and time deposits, the Shanghai Branch opens USD cash and deposit accounts for the above-mentioned enterprises, and accounts in other currencies are also under consideration.
In terms of lending, the Shanghai Branch provides foreign exchange, mainly US dollar, Hong Kong dollar, Japanese yen and federal German mark lending services, and uses documentary letters of credit to cash export bills to the above-mentioned enterprises and Chinese companies. Provide overdraft and loan facilities and provide import credit facilities to the above mentioned enterprises.
In terms of remittances, the Shanghai Branch accepts import remittances in most major currencies from beneficiaries outside Shanghai and Shanghai, provides handling fees to remitters, pays RMB for beneficiaries outside Shanghai, and accepts remittances from anywhere in my country. The beneficiary draws his or her favorite demand draft and sends daily business expenses from the foreign exchange account for the above-mentioned enterprises.
The Shanghai Branch also issues various forms of collateral, cashes and issues traveler's checks paid in foreign exchange, and provides trade and credit information services to Chinese and foreign enterprises.
The highest leadership body of HSBC is the Board of Directors, which currently has 19 members.
The daily affairs of HSBC are undertaken by the general manager, who is responsible to the board of directors.
(Compiled based on "The World's 50 Largest Banks", some data are modified based on the HSBC Annual Report)
HSBC Group Information Overview
HSBC Group Headquarters is the world's leading One of the world's leading international banking and financial services institutions, it operates commercial and investment banking services through long-established local companies in the Asia-Pacific region, Europe, the Middle East, and the Americas.
Headquarters HSBC Holdings plc was incorporated in the United Kingdom and its headquarters is in London.
Main members The Hongkong and Shanghai Banking Corporation Limited
Bank of America Limited
Hang Seng Bank Limited
SITC Bank of America
HSBC Bank Canada
HSBC Bank Malaysia
Bank of England Middle East
HSBC Bank Australia Limited
HSBC Investment Bank
HSBC Investment Bank Asia Limited
Jimbo Group
Samuel Montagu & Co.Limited
HSBC Investment Management
p>Trinkaues & Burkhardt KGaA
HSBC Trade Services
HSBC Capital Markets
HSBC Securities,Inc.
Equator Bank Ltd.
HSBC Insurance Holdinge
Forward Trust Limited
Assets As of June 30, 1995, the total asset value was 2,160 Billion pounds.
Profit Profit attributable to shareholders for the first six months of 1995 was ￡1,203 million.
Capital strength Tier 1 capital ratio: 9.4%; total capital ratio: 14.5%. More than 3,000 branches are located around the world, of which about 600 are located in Asia and 1,900 are located in Europe.
Staff employs 100,000 people in 69 countries. Share Listing HSBC Holdings plc's shares have primary listing status on both the London and Hong Kong stock exchanges. In the United States, they are traded in the form of sponsored American depositary receipts through JPMorgan.
The Technology Group owns the world's largest private data communications network and operates the world's largest dedicated ATM network through this network.
Product scope retail banking, industrial and commercial banking, trade services, private banking services, investment banking, treasury and capital market services, consumer and commercial financing, pension and investment fund management, trust services, securities and custody Services, insurance, etc.
(Compiled based on information from HSBC Bank)
Chronology of major events in the HSBC Group
The HSBC Group is formed by The Hongkong and Shanghai Banking Corporation Limited "HSBC Bank" after years of expansion Become. The bank was established in Hong Kong in 1865 and has branches in Shanghai and London, as well as an agency bank in San Francisco. For many years, the HSBC Group expanded its business around the world mainly under its own name. It was not until the mid-1950s that it began to establish or acquire subsidiaries. The acquisition of Bank of Midland in 1992 was the pinnacle of the expansion of the HSBC Group and the largest bank acquisition in history. The Bank of Midland was established in 1836 and is one of the major banks in the UK. The following is a timeline of the HSBC Group's business expansion since 1959.
In 1959, HSBC acquired the Bank of England in the Middle East (formerly Imperial Bank of Persia) and Benefit Bank (formerly Bank of India, London and China). Benefit Bank later merged into HSBC part of it.
HSBC Finance was established in 1960. This subsidiary operates hire purchase and personal financing businesses in Hong Kong.
In 1965, HSBC acquired a majority stake in Hang Seng Bank. Hang Seng Bank is currently the second largest bank in Hong Kong.
In 1967, Midland Bank purchased one-third of the parent company of Samuel Montagu, a London merchant bank.
In 1972, HSBC established a subsidiary merchant bank, Dolly (now known as HSBC Investment Bank Asia), and an insurance subsidiary, Jia Feng. Bank Mitlan purchased shares in UBAFBank.
In 1974, Samuel Montagu became a wholly-owned subsidiary of Midland Bank.
In 1978, the Saudi British Bank was established and controlled locally to take over the branches of the Middle East Bank of England in Saudi Arabia.
In 1980, HSBC acquired 51% of the shares of SITC Bank in New York State and obtained controlling interest in Kanghe, a leasing and financing group in the United States. UK-based merchant bank Antony Gibbs becomes a wholly-owned subsidiary.
HSBC Canada was established in Vancouver in 1981. The group purchased a controlling stake in Equator Holdings.
The British Bank of Egypt was established in 1982, with the Group holding 40% of its shares.
In 1983, SITC Bank acquired Carroll McEntee & McCinley (now known as HSBC Securities). Based in New York, CM&M is the primary dealer in U.S. government securities. Cyprus Popular Bank becomes an associated company of the group.
In 1986, HSBC established HSBC Australia and acquired James Campbell, a leading international securities company based in London.
In 1987, HSBC acquired the remaining 49% of the shares of SITC and the 14.9% of the shares of Metrobank.
In 1989, HSBC and Wells Fargo signed a strategic alliance agreement. Accordingly, HSBC provides overseas services to Wells Fargo's customers, while Wells Fargo provides services to HSBC's retail customers in California. Midland launches FirstDirect, the UK's first 24-hour telephone service.
HSBC Holdings Limited was established in 1991 to control HSBC Bank and its subsidiaries and associated companies. The shares of the new holding company are listed on both the London and Hong Kong stock exchanges.
In 1992, HSBC Holdings acquired the remaining shares of Bank of Midland and established HSBC Investment Bank.
In 1993, the general management office of HSBC Holdings plc moved from Hong Kong to London. Forward Trust Group, a subsidiary of Midland, acquires Swan National Leasing, becoming the third largest car hire and purchase service company in the UK.
In 1994, HSBC became the first foreign bank registered in Malaysia and established HSBC Malaysia.
In 1995, Wells Fargo & Co. and HSBC Holdings established Wells Fargo HSBC Trading Bank in California to provide trade financing and international banking services to customers of the two companies.
(Compiled based on information from HSBC Holdings plc)
Related information
HSBC won the award - "Euromoney" awarded HSBC "Best Foreign Investment in China" Bank" title
After Standard Chartered Bank was named "China's Best Foreign Commercial Bank" by "Asia Finance" magazine, The Hongkong and Shanghai Banking Corporation was recently rated as "China's Best Foreign Commercial Bank" by the international authoritative financial magazine "Euromoney" Best Foreign Bank”. This is the fourth consecutive year that the magazine has awarded HSBC this honor. In order to develop its business in China in the long term, HSBC moved its China business management function from Hong Kong to Pudong, Shanghai in May this year, and officially established the "HSBC General Representative Office in China". Currently, "HSBC" has nine branches, one sub-branch and two representative offices in mainland China.