HSBC (Hong Kong) facts for kids
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HSBC Main Building (HSBC headquarters), Central, Hong Kong
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Trade name
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Native name
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香港上海滙豐銀行有限公司
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Formerly
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The Hongkong and Shanghai Bank |
| Public | |
| Industry | Financial services |
| Founded | 3 March 1865 in British Hong Kong Incorporated on 14 August 1866 |
| Founder | Sir Thomas Sutherland |
| Headquarters | HSBC Main Building, 1 Queen's Road Central, Central,
Victoria City
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Hong Kong
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Key people
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Peter Wong (chairman) David Liao (co-CEO) Surendra Rosha (co-CEO) |
| Products | Retail banking, commercial banking, investment banking, mortgage loans, private banking, wealth management, credit cards, finance and insurance |
| Parent | HSBC |
| Subsidiaries |
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| HSBC | |||||||||||||||||
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| Traditional Chinese | 香港上海滙豐銀行有限公司 | ||||||||||||||||
| Simplified Chinese | 香港上海汇丰银行有限公司 | ||||||||||||||||
| Cantonese Yale | Heūnggóng Seuhnghói Wuihfūng ngànhòng yaúhhaahn gūngsī | ||||||||||||||||
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| Alternative Chinese name | |||||||||||||||||
| Traditional Chinese | 滙豐 | ||||||||||||||||
| Simplified Chinese | 汇丰 | ||||||||||||||||
| Cantonese Yale | Wuihfūng | ||||||||||||||||
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The Hongkong and Shanghai Banking Corporation Limited, usually just called HSBC, is a major bank based in Hong Kong. It is a part of the global HSBC banking group. In fact, it was the original bank that started the entire group.
HSBC is the biggest bank in Hong Kong. It has branches and offices all over the Asia-Pacific region and in other countries. It is also one of only three banks that are allowed to print banknotes for the Hong Kong dollar.
The bank was started in British Hong Kong in 1865. It has always been based in Hong Kong. Today, it is a key part of its parent company, HSBC Holdings, which is based in London. The bank offers many services, from everyday banking for people and businesses to helping large companies with their finances.
Contents
Banking in Hong Kong
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HSBC has about 220 branches all over Hong Kong. It offers many different financial services to its customers. For a while, the bank was known as HongkongBank in the city. Its cash machines, or ATMs, were called "Electronic Teller Card (ETC)" machines.
The Famous Headquarters
The main office for HSBC in Hong Kong is a famous skyscraper located at No 1 Queen's Road Central. It was designed by the British architect Norman Foster. When it was built, it was the most expensive building in the world for the amount of space it had inside.
Closing of Accounts
In June 2023, it was reported that HSBC had closed the bank accounts of a political group called the League of Social Democrats. The bank did not give a public reason for this decision.
Other Businesses in Hong Kong
Hang Seng Bank
In 1965, HSBC bought a controlling share (62.14%) of the Hang Seng Bank, another local bank. The famous Hang Seng Index, which tracks stock prices in Hong Kong, is named after this bank.
PayMe App
In 2017, HSBC launched a mobile app called PayMe. It's a social payment app that lets people in Hong Kong easily send money to each other, even if they don't have an HSBC account.
HSBC Insurance
HSBC also has an insurance business. It provides insurance products in Hong Kong, mainland China, Macau, Singapore, India, and Malaysia.
Operations Across the Asia-Pacific
The Hongkong and Shanghai Banking Corporation manages about 600 offices in 20 countries in the Asia-Pacific region. It acts as the regional headquarters for HSBC in Asia.
Bangladesh
HSBC started its operations in Bangladesh in 1996. The bank mainly has branches in big cities like Dhaka and Chittagong. It also supports education for people with disabilities.
China
HSBC opened its first branch in Shanghai way back in 1865. In 2007, its offices in mainland China became part of a new company, HSBC Bank (China). In 2022, a committee of the Chinese Communist Party (CCP) was set up inside one of HSBC's businesses in China.
India
HSBC entered India in 1959 by buying another bank. Today, it is one of the fastest-growing foreign banks in the country.
Indonesia
HSBC first opened an office in Jakarta in 1884. After closing and reopening, it has grown to become one of the largest foreign banks in Indonesia.
Japan
HSBC's first branch in Japan opened in Yokohama in 1866. It even helped Japan develop its modern money system. Today, it focuses on banking for wealthy clients and businesses.
New Zealand
HSBC has operated in New Zealand since 1987. It offers a range of financial services from a network of 9 offices.
Philippines
HSBC has been in the Philippines for over 150 years, opening its first branch in Manila in 1875. In its early days, it helped finance the country's sugar industry and railways. Today, it has offices in major cities like Cebu and Davao.
Singapore
HSBC opened its first branch in Singapore in 1877. Today, it is a full-service bank. In the 1960s, the HSBC building in Singapore was bombed by Indonesian forces. Several people were killed in the attack.
South Korea
HSBC has been in South Korea since 1897. It currently operates from a network of 11 branches in a very competitive market.
Sri Lanka
HSBC has been in Sri Lanka since 1892. It is one of the biggest and most successful banks in the country.
Taiwan
HSBC's history in Taiwan began in 1885. It established a full branch in Taipei in 1984 and has grown its network of branches across the island.
Thailand
HSBC was the first bank to open in Thailand in 1888. It even issued the first banknotes in the country. In 2012, HSBC sold its regular banking services in Thailand to focus only on business banking.
Vietnam
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HSBC first opened an office in Saigon (now Ho Chi Minh City) in 1870. In 2009, it became the first foreign bank to create a fully local bank in Vietnam.
See also
- HSBC Holdings plc
- HSBC Bank (China)
- HSBC Bank Australia
- HSBC Bank Malaysia
- Hang Seng Bank
- Bank of Communications
- HSBC Hong Kong headquarters building
Images for kids
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The HongkongBank Foundation
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Marina Bay Financial Centre, which is the new HSBC Singapore headquarters
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The current HSBC Vietnam headquarters in Ho Chi Minh City
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