HSBC

HSBC, originally known as The Hong Kong and Shanghai Banking Corporation, was established in 1865 to finance the growing trade between Europe, India, and China. The bank's founder, Thomas Sutherland, was a Scottish banker working for the Peninsular and Oriental Steam Navigation Company. Over the years, HSBC has grown into a global banking and financial services organization, with around 40 million customers across 64 countries and territories worldwide.

Industry

Banking and Financial Services

Company Size

With a workforce exceeding 219,199 employees, the company boasts a vast talent pool.

Product, Services and Operations

HSBC provides a comprehensive range of financial services including retail banking, wealth management, commercial banking, global banking and markets, and global private banking. The bank operates through a network of around 3,800 offices worldwide.

Funding Details

HSBC is a publicly traded company, listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. As of 2020, the bank's market capitalization was approximately $102.23 billion.

Acquisitions

Notable acquisitions include Midland Bank in the UK in 1992, Republic National Bank of New York in 1999, and Household International, a US consumer finance company, in 2003.

Awards and Achievements

HSBC has received numerous awards for its banking and financial services. In 2020, it was named the World’s Best Bank for Sustainable Finance by Euromoney. It has also been recognized as the Best Investment Bank in the World by Global Finance magazine multiple times.

Revenue

HSBC revenue for the twelve months ending September 30, 2023 was US $19.450 billion