[15] Of the total notes in circulation measured by value, HSBC is the most prolific issuer, its notes representing 67.7% of those in issue. HSBC uses cookies to give you the best possible experience on our websites. 1965 saw the bank purchase a controlling interest in Hang Seng Bank of Hong Kong, and 1972 the formation of a merchant banking arm, Wardley Limited. [citation needed]. For example, in 1889 HSBC issued the first banknotes in Thailand. HSBC Insurance provides insurance products and services to international and local brokers, agents and direct customers in Hong Kong, mainland China, Macau, Singapore, India and Malaysia. Today, HSBC Philippines operates in key Philippine cities such as Cebu and Davao. The Communist Party of China took over Shanghai in early 1949, towards the end of the civil war. [7] The bank initially leased its premises for HK$500 a month in 1864. The Hongkong and Shanghai Banking Corporation Limited participates in the deposit guarantee scheme of the United Kingdom. [11] Saunders took this role until retirement in 1972 and was succeeded as Chief Manager in 1964 by H.J. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. In September 2007, HSBC acquired 10% share capital of Bao Viet Holdings, becoming the sole foreign strategic partner of Vietnam's leading insurance company. HSBC (Chinese: 滙豐; Cantonese Yale: Wuihfūng), officially known as The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. After the British established Hong Kong as a colony in the aftermath of the First Opium War, merchants from other parts of the British Empire, now in Hong Kong, felt the need for a bank to finance the growing trade, through Hong Kong and sometimes also through Shanghai, between China and India, the rest of the British Empire and Europe, of goods, produces and merchandises of all kinds, but especially opium, cultivated in or transited (re-exported) through the Raj,[5][6] and to that end, they organised amongst themselves and formed The Hongkong and Shanghai Bank in Hong Kong (March 1865), and in Shanghai one month later. Michael Turner became Chief Manager in 1953 and set about diversifying the business. In January 2012 HSBC announced the sale of its Thailand retail banking operations to the Krungsri Group (Bank of Ayudhya) Please note this is English language only. The Hongkong and Shanghai Banking Corporation Limited Peter Wong Tung Shun is Deputy Chairman and Chief Executive of The Hongkong and Shanghai Banking Corporation Limited. LIST OF AFFECTED RATINGS The Hongkong and Shanghai Banking Corporation Limited: Get details of 8 Aberdeen Centre branches of The Hongkong and Shanghai Banking Corporation Limited . The all-steel structure stands 180m high across 52 floors, 4 of which are subterranean. The founder, Thomas Sutherland of the Peninsular and Oriental Steam Navigation Company, wanted a bank operating on "sound Scottish banking principles." 333 of 1989", HSBC Headquarters Hong Kong - The World's Most Expensive Building. The bank built a succession of modern head offices on the site. People using this service can freely remit money from Bangladesh to any part of the world and can access their money from any HSBC booth around the world. Under Saunders' tenure the bank continued to expand. Progress has been made in the five years since the Paris Agreement – but bigger changes are coming. The bank now has a network of 8 branches (Hyperlink to service channel[clarification needed]) nationwide, including Taipei, Jianguo, Banqiao, Tianmu, Taoyuan, Taichung, Tainan, and Kaohsiung. It was designed by British architect Norman, Lord Foster, and was the most expensive building in the world based on usable floor area at the time it was built.[14]. For some time in the late 1980s and early 1990s, the bank was known by the name HongkongBank in its native city, although it now trades as HSBC. HSBC’s founder, Thomas Sutherland, was a Scotsman working in Hong Kong for a large shipping firm. The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. It was heavily involved in the early development of Japan's current monetary system, and consulted with the government regarding fiscal policy, currency printing and related matters. Swift Code HSBCHKHHHKH is the unique bank identifier for HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE's branch located in … The Hongkong and Shanghai Banking Corporation Ltd. The acquisition made HSBC's nationwide branch network increase to 47. Lord Norman Foster’s design was a demonstration of the bank’s commitment to Hong Kong. Internal loss-absorbing capacity available increased by HK$13.9bn from June 2020 to September 2020 largely from an increase in regulatory capital of HK$14.1bn. Retrieved 2018-06-03, "HSBC to launch new mobile P2P payment platform in the 'next few days, "UPDATE 4-Credit Suisse buys HSBC's private bank in Japan", "List of registered banks in New Zealand, Reserve Bank of New Zealand", HSBC to incorporate its local operations in May, Yahoo news 2016-02-05 Retrieved 2018-05-20, HSBC SINGAPORE TO TRANSFER ITS RETAIL BANKING AND WEALTH MANAGEMENT BUSINESS TO LOCALLY INCORPORATED SUBSIDIARY BY 9 MAY 2016, HSBC Press Release 2016-02-05 Retrieved 2018-05-20, HSBC Statement released in Jan 2012 - Changes to HSBC business operations in Thailand. During the period 1941–1943 the chief manager Sir Vandeleur Grayburn, and his successor David C. Edmondston, both died while interned by the Japanese. HSBC Bank Plc: The HongKong and Shanghai Banking Corporation Limited - Hong Kong Exchanges and Clearing Limited - Form 8.5 October 8, 2019, 8:30 AM EDT SHARE THIS ARTICLE Hang Seng Bank Limited is headquartered in Hong Kong and reported total assets of HKD1.66 trillion at end-June 2019. In September 2008, HSBC completed the increase of its stake in Techcombank to 20%, became the first foreign bank in Vietnam to hold a 20% interest in a domestic bank. [13] It was also home to HSBC Holdings plc's headquarters until the latter firm's move to London to meet the requirements of the UK regulatory authorities after the acquisition of the Midland Bank in 1992. HSBC does not conduct ordinary retail banking in Japan, but conducts investment banking in Tokyo and Osaka. Further information about HSBC’s history is available in The HSBC Group: Our Story (PDF, 3.49MB). It was a strategy to cut $3.5 billion annual costs by quitting businesses or countries where it lacks scale which Credit Suisse has a larger business in Japan than HSBC and in line with a global business restructuring it announced that will see it cut 30,000 jobs as it pares back small or inefficient operations. HSBC's history in the Philippines dates back more than 110 years with the establishment of their first branch no. The Hongkong & Shanghai Banking Corporation Ltd has 39 ACH Branch codes available in SG. Find out about the work that HSBC and its employees do in the community, including information about the Hongkong Bank Foundation. HSBC is known in Cantonese as “Wayfoong”, which means “focus of wealth” or “abundance of remittances.”. HSBC started operations in 1996. HSBCHKHHHKH - SWIFT Code (BIC) - HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE in HONG KONG - HONG KONG. Having been able to restart its operations after the Second World War, it was again forced to close in the mid-1960s, however the Bank was granted a new banking licence in 1968 its operations have grown to make it one of the largest foreign banks operating in Indonesia.[22]. The bank provides a range of personal, commercial and corporate banking financial services across Asia. Please be aware that the external site policies, or those of another HSBC group website, may differ from this website's terms and conditions and privacy policy. The company's business ranges from the traditional High Street roles of retail banking, commercial banking, corporate banking to investment banking, private banking and global banking. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in Hong Kong. Vaccine breakthroughs should usher in a brighter dawn for global economic prospects for 2021, says HSBC’s Janet Henry. Branch Name. In October 2009, HSBC signed an agreement to increase its shareholding in Bao Viet Holdings to 18% from 10% for VND1.88 trillion (approximately US$105.3 million). Hong Kong remains the headquarters of The Hongkong and Shanghai Banking Corporation, and the bank is committed to the future of its birthplace. 90 Rosario Street (Now Quintin Paredes Street) in Binondo, Manila in 1875. HSBCHKHHGCC - SWIFT Code (BIC) - HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE in HONG KONG - HONG KONG. HSBC Singapore is a Qualifying Full Bank and offers a comprehensive range of financial services including commercial banking, investment and private banking, insurance, forfaiting and trustee services, and securities and capital markets services. Although the Hong Kong Government changed the official spelling of "Hongkong" to "Hong Kong", by the instructions of the Secretary of State for the Colonies, on 3 September 1926,[41] HSBC uses the older Hongkong, as the bank's name was conceived before the official declaration of the modern two-word name, and it was decided to retain the single word spelling in the Bank's name: Hongkong. Learn more about our services today. Although its assets were restored to HSBC at the end of the war, the Chinese Civil War affected HSBC's recovery. Accordingly, a second branch was opened on Thonglor (Sukhumvit 55) in early 2011. A period of expansion followed, with new buildings constructed in Bangkok (1921), Manila (1922) and Shanghai (1923), and a new head office building in Hong Kong in 1935. In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Can Tho. [23][24], HSBC's operations in New Zealand are as a branch of The Hongkong and Shanghai Banking Corporation, which first gained a licence from the Reserve Bank of New Zealand on 22 July 1987. The Hongkong and Shanghai Banking Corporation Limited … [19] On 9 & 10 November 2017, all HSBC Brunei branches and ATMs had ceased its operations. Investvine.com 2012-02-26. In 1991, the super-ceding position of Group Chairman of HSBC was formed; since then, the Chairman of the Hongkong and Shanghai Banking Corporation has been held as an independent position, held concurrently by the Chief Executive of the Hongkong and Shanghai Banking Corporation, or held by the Group Chief Executive of HSBC ex-officio. The Hongkong and Shanghai Banking Corporation maintains a network of around 600 offices in 20 countries in Asia Pacific, as well as owning of a number of HSBC banks operating in various countries and holding the group's stakes in further lenders, particularly in mainland China. The building broke many construction records and included many design innovations. [2][9] Shares of the bank were one of 13 securities initially traded on the Shanghai Stock Exchange, and were traded on that exchange until the Japanese closed the exchange in 1941. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD: Clearing Code 004 Branch Code 845: Branch Name: Quarry Bay Branch Address: G/F - 1/F, 971 Kings Road, Hong Kong Contact: 2233 3000: THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD… The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. HSBC's main branch office in Thailand is situated in Bangkok on Rama IV Road opposite Lumpini Park. On 6 August 2004, HSBC announced that it would pay US$1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. The remaining accounts were all transferred to the local, Baiduri Bank on the same date. When the war ended, the head office moved back to Hong Kong and the bank supported the city’s reconstruction, including lending money to restore public utilities, reopen the port, and restart the Star Ferry service. [25] Today HSBC offers a range of financial products from a network of 9 offices.[26]. [40], Known as Chief Managers prior to 1986; in 1991, the super-ceding position of Group Chief Executive of HSBC was formed, with the Chief Executive of the Hongkong Shanghai Banking Corporation now being the Asia-Pacific regional head.[40]. ACH Bank Code, Branch Code and Account Number information is used for Interbank GIRO transactions. On 29 December 2005, HSBC acquired 10% share capital of Vietnam Technological and Commercial Joint Stock Bank (Techcombank), one of the largest joint stock commercial banks in Vietnam by equity. New Zealand Branch The Hongkong and Shanghai Banking Corporation Limited… HSBC established its Shanghai branch office on 3 March 1865 and has had a continuous presence in the city[20] since then, except during the Japanese Occupation. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar. For more information Click Here . 622)) during the period from 1 January 2015 to 22 February 2016, the date of the report of the Directors of the Bank … It opened its doors in December 1877. The Hongkong and Shanghai Banking Corporation opened its first Indonesian office in Jakarta in 1884. HSBC Bangladesh has a help center which operates on a daily basis. SWIFT Code HSBCHKHHHKH Breakdown; SWIFT Code: HSBC HK HH HKH: Bank Code: HSBC - code assigned to HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE: Country Code: HK … In 1959 HSBC acquired The Mercantile Bank of India, London and China, established in October 1853 in Bombay. It is the founding member of the HSBC Group of Banks and Companies, and, since 1990, is the namesake and one of the leading subsidiaries of the London-based HSBC Holdings PLC. For its parent company, see, Xiānggǎng Shànghǎi Huìfēng Yínháng Yǒuxiàn gōngsī, Heūnggóng Seuhnghói Wuihfūng ngànhòng yaúhhaahn gūngsī, Hoeng1gong2 soeng6hoi2 wui6fung1 ngan4hong4 jau5haan6 gung1si1. In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship. Swift Code HSBCHKHHGCC is the unique bank identifier for HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE's branch located in … Petron has retained The Hongkong and Shanghai Banking Corp. (HSBC) Ltd.-Singapore branch as the sole global coordinator. The bank was incorporated in Hong Kong as The Hongkong and Shanghai Banking Corporation by the Hongkong and Shanghai Bank Ordinance (Numbers 2 and 5 of 1866),[8] and a branch in Japan was also established in Yokohama in 1866. Retrieved 2018-06-03, HSBC closing down in Thailand. From the late 1950s the bank began to grow and diversify by acquiring other banks, including Hong Kong’s Hang Seng Bank in 1965. HSBC initially opened for business in Thailand in 1888, becoming the first commercial bank in the country. The bank survived because of large reserves and prudent forward planning, for example deciding to move the head office to London. HSBC is now one of the fastest growing foreign banks in India,[21] both in domestic banking and support operations for worldwide operations (see Group Service Centres). Arthur Morse was appointed Chief Manager in 1943 and led the bank after the war. Hongkong and Shanghai Banking Corp. Ltd (The), Bank of China (Hong Kong) Limited: HSBC Hong Kong and BOC Hong Kong remove fees for small accounts, a credit negative. See our Cookie Policy. HSBC (Chinese: 滙豐; Cantonese Yale: Wuihfūng), officially known as The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. In Singapore, The Hongkong and Shanghai Banking Corporation Limited operates as a full service bank with its headquarters in Collyer Quay. HSBC's presence in Taiwan dates back to 1885 when The Hongkong and Shanghai Banking Corporation appointed an agent in Tamsui. Renamed `` the Hongkong and Shanghai Banking Corporation Limited 4 the Banking services provided from the location will be in. In Sri Lanka for 120 years second World war 1874, thereafter issuing most public loans Can Tho issue for... 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