What is the full form of HSBC
HSBC: Hong Kong and Shanghai Banking Corporation
HSBC related questions: What is the full form of HSBC, What does HSBC stand for, What is the meaning of HSBC, HSBC full Form in English.
HSBC stands for Hong Kong and Shanghai Banking Corporation. HSBC bank is one of the largest banking and financial services organization in the world.
The HSBC global business includes retail banking and wealth management, global banking and markets, commercial and global private banking.
The bank functions in 71 countries across Europe, Asia, the Middle East, and Africa, Latin America and North America. The banks headquarter is in London, united kingdom.
It is listed on the Paris, New York, Bermuda, and Hong Kong stock exchanges.
The HSBC limited, India proffers personal and business banking products in India and abroad.
The personal banking service consists of the saving account, fixed deposit, smart money accounts, Demat account, debit cards, etc.
For the non-resident individual, it proffers wealth management, online and self-service banking, premier products, etc.
The business banking service includes credit and lending, exports, investment, and risk management.
The HDFC bank also offers corporate and institutional banking service
It was the Thomas Sutherland who felt the need to commence a bank to meet the demand of local banking facilities in Hong Kong, he assisted to establish the hong kong and shanghai bank on march 3 1865, in Hong Kong
- In the year 1866, Hong Kong and the shanghai bank began as the Hong Kong and Shanghai Banking Corporation.
- By 1875, HSBC was functioning in seven countries across Europe, Asia, and North America.
- By 1900, under the guidance of chief manager Thomas Jackson, the bank had established its branches in 16 countries across the world and chiefly providing bullion, exchange, and merchant banking service
- In 1910, it provided the loans to the national government for the infrastructure projects.
- By the year 1941, the Second World War poorly hampers the growth and functions of the bank. During this period, only the London, US and Indian branches were operational
- 1n 1950, after the war come to an end, HSBC helped reconstruction of the Hongkong economy by augmenting the manufactures to grow their business
- In the year 1972, the bank established a merchant banking arm to broaden the array of its services
- In the 1980s, HSBC obtained the US-based marine midland bank
- In the year 1992, HSBC brought a new company SBC Holdings plc, which acquired the Midland bank on July 1992. With this acquisition, the headquarters of HSBC was shifted to London.
- During the year 1998, HSBC determined to adopt a unified brand consist of the letters HSBC and hexagon symbol.
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