HSBC facts for kids

Quick facts for kids
HSBC Holdings plc

Headquarters at 8 Canada Square in Canary Wharf, London
Type	Public
Traded as	LSE: HSBA SEHK: 5 NYSE: HSBC BSX: HSBC.BH FTSE 100 component (HSBA) Hang Seng component (5)
Industry	Financial services
Founded	First established on 3 March 1865; 160 years ago (1865-03-03) in British Hong Kong (as The Hongkong and Shanghai Bank) First incorporated on 14 August 1866; 159 years ago (1866-08-14) (as The Hongkong and Shanghai Banking Corporation) 25 March 1991; 34 years ago (1991-03-25) in London (as HSBC Holdings plc, as parent holding company to the entity in Hong Kong now as a subsidiary)
Founder	Sir Thomas Sutherland
Headquarters	8 Canada Square, London, England , United Kingdom
Area served	Worldwide
Key people	Sir Mark Tucker (Group Chairman) Georges Elhedery (Group Chief Executive)
Products	Asset management Banking Commodities Credit cards Equities trading Insurance Investment management Mortgage loans Private equity Wealth management
Revenue	US$62.440 billion (2024)
Operating income	US$32.309 billion (2024)
Net income	US$24.999 billion (2024)
Total assets	US$3.017 trillion (2024)
Total equity	US$192.273 billion (2024)
Number of employees	221,000 (2025)
Subsidiaries	Subsidiaries Hang Seng Bank HSBC Bank Australia HSBC Bank Bermuda HSBC Bank India HSBC Bank Hong Kong HSBC Trinkaus HSBC Bank Malaysia HSBC México HSBC Bank Middle East HSBC Sri Lanka HSBC Bank USA HSBC Finance HSBC UK M&S Financial Services HSBC Innovation Bank Limited

HSBC Holdings plc is a large British bank and financial services group. Its name comes from its original founding member, The Hongkong and Shanghai Banking Corporation. The company's main office is in London, England. It has strong historical and business connections to East Asia.

HSBC is the largest bank based in Europe when you look at its total assets. It manages trillions of dollars in assets for its customers. This makes it one of the biggest banks in the world.

The bank started in 1865 in Hong Kong and opened branches in Shanghai that same year. In 1991, the current parent company, HSBC Holdings plc, was set up in London. The original Hong Kong bank became a part of this new group. In 1992, HSBC bought Midland Bank, which made it a very big bank in the United Kingdom.

Today, HSBC has offices and branches in 62 countries and regions. These are spread across Africa, Asia, Oceania, Europe, North America, and South America. It serves about 39 million customers worldwide. HSBC is listed on the Hong Kong Stock Exchange and the London Stock Exchange.

History of HSBC

How HSBC Started

Wardley House in Hong Kong, where the bank first opened its office in 1865

The former Shanghai Club building, which became HSBC's Shanghai office in 1874

HSBC's first main office building in Hong Kong, built in 1886

The same building after land was reclaimed from the sea, creating Statue Square

The back of the 1886 building in Hong Kong, photographed in 1890

Inside the HSBC Hong Kong banking hall in 1908

After Hong Kong became a British colony, merchants needed a bank. They wanted to help finance trade between China, India, and Europe. Thomas Sutherland from P&O shipping company helped start the bank. He wanted it to follow "sound Scottish banking principles."

The bank opened on March 3, 1865, with HK$5 million in capital. It quickly opened a branch in Shanghai in April of the same year. The bank also started printing its own local banknotes. In 1866, it was officially named The Hongkong and Shanghai Banking Corporation. A branch in Yokohama, Japan, also opened in 1866.

Growing the Business

HSBC's first purpose-built London office, opened in 1913

The former banking hall in the Gracechurch Street building, now a pub

The impressive HSBC Building on the Bund in Shanghai, used as headquarters from 1923 to 1955

HSBC Hong Kong head office in 1936 after it was rebuilt

Sir Thomas Jackson became the chief manager in 1876. Under his leadership, the bank became a major player in Asia. HSBC expanded, building new offices in places like Bangkok (1921) and Shanghai (1923). A new main office was built in Hong Kong in 1935. HSBC's ability to issue banknotes gave it a lot of influence.

Expanding Around the World

The tower at 99 Bishopsgate, HSBC's main London office from 1976 to 1993

The HSBC Main Building, Hong Kong, designed by Norman Foster and finished in 1985

Michael Turner became chief manager in 1953 and worked to make the business more diverse. He helped set up The Hong Kong and Shanghai Banking Corporation of California in 1955. He also bought The British Bank of the Middle East and the Mercantile Bank in 1959.

In the 1960s, during a time of conflict, a building used by HSBC in Singapore was bombed. Three people died and many were injured.

The current HSBC building in Hong Kong was designed by Sir Norman Foster. When it was finished in 1985, it was one of the most expensive and high-tech buildings in the world.

Creating the HSBC Group

Building at 10 Lower Thames Street in London, used as HSBC's global head office from 1993 to 2002–2003

On March 25, 1991, HSBC Holdings plc was created in England. This new company became the parent company for the original Hongkong and Shanghai Banking Corporation. This was done to prepare for buying Midland Bank in the UK. The purchase of Midland Bank was completed in 1992. This made HSBC a very big bank in the United Kingdom.

As part of the deal, HSBC Holdings plc had to move its main world headquarters. It moved from Hong Kong to London in 1993. HSBC also bought banks in South America in 1997. In 1999, it expanded in the United States by buying Republic National Bank of New York.

From 2000 to 2010

HSBC continued to grow in Europe by buying a large French bank, Crédit Commercial de France, in 2000. It also bought banks in Turkey and Mexico in 2001 and 2002. In 2002, HSBC expanded its business in the United States by acquiring Household Finance Corporation (HFC). This company focused on credit cards and loans.

The new main office for HSBC Holdings in London, at 8 Canada Square, opened in April 2003. HSBC also bought parts of banks in South Korea, Poland, and China. In the UK, it acquired Marks & Spencer Retail Financial Services in 2004.

In 2005, there were concerns about HSBC's systems for tracking money. The bank later admitted to problems with following rules about money transfers. HSBC worked to fix these issues and improve its systems.

In 2007, HSBC was one of the first major banks to report losses from problems in the housing market. Despite this, HSBC was considered one of the world's strongest banks. In March 2009, HSBC announced it would close many of its HSBC Finance branches in the US. This led to job losses, and the bank focused more on its credit card business there.

From 2010 to 2013

In 2011, HSBC decided to close its regular banking business in Russia. It also changed the name of its Personal Financial Services group to Retail Banking and Wealth Management.

In 2013, the new chief executive, Stuart Gulliver, announced big changes. HSBC planned to save money by reducing its operations, especially in retail banking. The goal was to focus on key markets like the UK, Hong Kong, Mexico, Singapore, Turkey, and Brazil.

In 2011, HSBC announced it would cut 25,000 jobs and leave 20 countries by 2013. It sold many branches in New York and Connecticut to other banks. HSBC also sold its US credit card business to Capital One.

In 2012, HSBC faced investigations in the US Senate. These investigations found serious problems with how HSBC prevented illegal money transfers. HSBC admitted to its mistakes and agreed to pay a large fine in December 2012. The bank said it was "profoundly sorry" and took responsibility for its past actions.

Since 2013

In 2014, HSBC sold its UK pensions business. In 2015, information about HSBC's business practices was released, called Swiss Leaks. It suggested the bank had done business with people involved in tax evasion and other issues. HSBC stated it was against financial crime.

In August 2015, HSBC sold its business in Brazil. In 2016, the bank was mentioned in connection with the Panama Papers investigation. In 2017, a report called Global Laundromat suggested HSBC had processed money from Russia that was linked to illegal activities. HSBC said it was working to prevent financial crime and needed more information sharing between banks and governments.

Mark Tucker became the group chairman in October 2017. In February 2020, HSBC announced it would cut 35,000 jobs worldwide. This was because company profits had decreased. In 2020, HSBC combined two of its business lines to form a new unit called Wealth and Personal Banking.

In October 2020, HSBC promised to achieve zero-emission by 2050. This means it aims to be carbon neutral itself and only work with carbon-neutral clients. It also pledged to help clients make this transition.

In January 2021, HSBC announced it would close 82 branches in Britain. In May 2021, HSBC decided to leave the US retail banking business. It sold many branches and closed others. The bank wants to focus on wealthy clients who are connected globally.

In May 2021, HSBC committed to stop financing the coal industry. It published a new policy in December 2021. However, in 2023, the company helped a mining giant raise money, which some saw as breaking its promise.

In June 2022, HSBC announced it would sell its business in Russia. This deal was approved by the Russian government and completed in the first half of 2024. In July 2022, HSBC became the first foreign bank to open a Chinese Communist Party committee in its Chinese investment banking branch.

In November 2022, HSBC announced it would leave the Canadian market. Royal Bank of Canada bought HSBC Canada for $13.5 billion. This deal was completed by late 2023. HSBC has been trying to cut costs and sell businesses outside of Asia.

In February 2023, HSBC announced that its profits had almost doubled in the last quarter of 2022. However, its overall profit fell because of the cost of selling its French retail banking operations. The bank also announced it was closing 114 branches in the United Kingdom. This was due to more people using online banking.

In May 2023, HSBC rejected a proposal to spin off its Asia business. This proposal was supported by its largest shareholder, Ping An. In December 2023, HSBC Asset Management announced it would buy Silkroad Property Partners, an investment manager in Singapore. This deal helps HSBC expand its real estate fund management in Asia.

HSBC announced in December 2023 that it plans to move its main office in London. It will move from 8 Canada Square to 81 Newgate Street when its lease ends in 2027.

In 2024, HSBC, along with other banks in Hong Kong, started working on a plan to stop using cheques. They want to switch to electronic payments. Cheque transactions in Hong Kong have been falling.

In 2024, HSBC launched a new international payments app called Zing. This app was meant to compete with other money transfer apps. However, in January 2025, HSBC decided to close the app after only one year. This was part of a plan to cut costs.

In 2024, HSBC Philippines launched "Omni Collect." This allows companies to connect to HSBC's system to manage payments. It supports many online and offline payment options.

On April 9, 2024, HSBC announced the sale of its Argentina business to Galicia for $550 million. This deal was finalized by the end of 2024. HSBC also sold its Armenia holdings to Ardshinbank in August 2024.

In January 2025, HSBC announced it would close some of its investment banking units in Europe, the UK, and the US. This is part of a big restructuring effort by its CEO, Georges Elhedery. These changes are expected to save $1.8 billion by the end of 2026.

In May 2025, HSBC announced that its group chairman, Mark Tucker, will retire by the end of 2025. He will have served for eight years. In July 2025, HSBC became the first major UK bank to leave the Net-Zero Banking Alliance. This raised questions about other European banks.

How HSBC Operates

The main office of HSBC Bank (China) in Shanghai

HSBC Centre, Hong Kong

HSBC building in Bur Dubai

HSBC building in Beirut (right)

Building at 38, avenue Kléber in Paris, the main office of HSBC Continental Europe

Building at One Centenary Square in Birmingham, the main office of HSBC UK since 2018

HSBC Tower, Mexico City facing the Angel of Independence

The former HSBC Canada Building in Vancouver

HSBC tower in Auckland, New Zealand

HSBC's world headquarters is in London, at 8 Canada Square in Canary Wharf. The bank announced in June 2023 that it plans to move from this building in 2027. It will move to a new building in the City of London.

HSBC's main office in the US is in Hudson Yards, New York City. It is a large, modern office space.

Size and Profits

HSBC is one of the largest banks in the world by assets. It is also very profitable. In 2007, it was the most profitable bank globally. HSBC has been audited by PwC since 2015. Even though it's based in the UK, about two-thirds of HSBC's profits come from Asia. China alone contributed 44% of the bank's profit in 2022.

HSBC Building in George Town, Penang, Malaysia

Main Business Groups

HSBC has three main business groups that serve its customers:

• Commercial Banking (CMB)
• Global Banking and Markets (GBM)
• Wealth and Personal Banking (WPB)

Commercial Banking

The Commercial Banking group helps over 2 million business customers. These include small businesses, partnerships, and large public companies.

Wealth and Personal Banking

The Wealth and Personal Banking group helps people manage their daily money. It also helps them grow and protect their wealth. HSBC serves over 54 million customers in this group. It focuses on wealth management, asset management, and private banking.

Service Centers

HSBC Data Processing Center in Bangalore, India

The HSBC Technology Center in Colombo, Sri Lanka

HSBC has many global service centers around the world. These centers help the bank save money by handling tasks like data processing.

Main Companies HSBC Owns

The HSBC building in Manila, Philippines

HSBC Bank in Colombo Fort, Sri Lanka

Here are some of HSBC's main companies around the world:

Specialized Businesses

Businesses HSBC Has Sold or Closed

HSBC has stopped offering regular banking services in several countries. These include Thailand and Japan (2012), South Korea (2013), Brazil and Maldives (2016), Oman (2023), and New Zealand, Mauritius, and France (2024).

HSBC has also sold its businesses in many countries. These include Costa Rica, El Salvador, Honduras, Colombia, Peru, Uruguay, Paraguay, and Hungary (2012). It also sold businesses in Panama and Guatemala (2013), Kazakhstan, Pakistan, Jordan, Libya, Cook Islands, and Cayman Islands (2014). More recently, it sold businesses in Monaco and Lebanon (2016), Greece (2023), and Canada, Argentina, Russia, and Armenia (2024).

HSBC stopped banking operations in Nicaragua (2009), Georgia (2011), Slovakia (2012), and Palestine (2015). It also sold its share in Dar Es Salaam Investment Bank in Iraq in 2013. HSBC stopped offering Islamic banking products in some countries after a review.

HSBC Products and Services

HSBC Direct

HSBC Direct is an online and phone banking service. It offers mortgages, accounts, and savings. It started in the USA in 2005 and is now available in other countries like Taiwan and Australia.

HSBCnet

HSBCnet is a digital platform for businesses. It helps companies manage payments, cash, and trade services. It also provides financial research and allows trading in foreign exchange. Large companies use HSBCnet for their global banking needs.

HSBC Advance

HSBC Advance is a product for working professionals. The benefits and requirements change by country. Customers usually need to have a certain amount of money in their accounts. It offers everyday banking services and financial planning. HSBC Advance customers can easily open accounts in other countries.

HSBC Premier

HSBC Premier is a special service for high-value customers. It offers dedicated managers, 24-hour call centers, and better rates. If you are a Premier customer in one country, you get Premier services in all countries that offer it.

HSBC Jade

HSBC Jade is an invite-only service for very wealthy individuals. Customers usually have between $1 million and $5 million in investments with HSBC. It offers special concierge services and access to exclusive Jade Centres.

HSBC Logo

Logo used from 1998 to 2018

Logo used from 2018 to present

In 1998, HSBC decided to use the HSBC brand and the hexagon symbol everywhere. This was to make the group more recognizable worldwide. The hexagon symbol was first used by The Hongkong and Shanghai Banking Corporation in 1983. It came from the bank's flag, which had a red hourglass shape. The design was based on the cross of Saint Andrew. The logo was designed by Austrian artist Henry Steiner.

In 2018, HSBC made small changes to its logo. The word "HSBC" was moved to the right and made smaller. The font was also changed, and the red color was made a bit darker.

Sponsorships

The 2004 Jaguar Racing Formula One car, sponsored by HSBC

HSBC used to sponsor the Jaguar Racing Formula One team. They ended this sponsorship after seven years.

In the mid-2000s, HSBC started focusing on sponsoring golf. They became the main sponsor for several big golf events. These include the WGC-HSBC Champions and the Abu Dhabi HSBC Golf Championship. HSBC also supports youth golf programs. Since 2010, HSBC has been the 'Official Banking Partner' of the Open Championship.

In 2010, HSBC made a big deal to sponsor the World Sevens Series in rugby. They pay over $100 million for the naming rights to all the tournaments. HSBC also sponsors the Hong Kong Rugby Union and the New South Wales Waratahs rugby team.

HSBC is the official banking partner of the Wimbledon Championships tennis tournament. They provide banking services at the event. They also renamed the junior tennis event to the HSBC Road to Wimbledon.

HSBC also sponsors projects in education, health, and the environment. In 2006, they partnered with SOS Children to help young people. In 2022, Zhou Guanyu, the first Chinese F1 driver, became an ambassador for HSBC's Chinese branch.

From 1999 to 2011, HSBC's American division sponsored the arena for the Buffalo Sabres hockey team. It was called the HSBC Arena.

Ownership

About 44% of HSBC shares are owned by the general public. Around 56% are held by large institutions. The biggest shareholders in early 2024 included:

• BlackRock (8.9%)
• Ping An Asset Management (8.82%)
• The Vanguard Group (4.75%)
• Norges Bank (2.87%)
• Legal & General (1.89%)
• State Street Global Advisors (1.66%)

Leadership

• Group Chairman: Sir Mark Tucker (since October 2017)
• Group Chief Executive: Georges Elhedery (since September 2024)

Former Group Chairmen

The role of Group Chairman started in 1991.

1. Sir William Purves (1991–1998)
2. Sir John Bond (1998–2006)
3. The Lord Green (2006–2010)
4. Sir Douglas Flint (2010–2017)

Former Group Chief Executives

The role of Group Chief Executive started in 1991.

1. William Purves (1991–1993)
2. John Bond (1993–1998)
3. Keith Whitson (1998–2003)
4. Stephen Green (2003–2006)
5. Michael Geoghegan (2007–2010)
6. Stuart Gulliver (2011–2018)
7. John Flint (2018–2019)
8. Noel Quinn (2020–2024)

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See also

In Spanish: HSBC para niños