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 limited company (Origin: Body Corporate formed by Special Ordinance) |
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| 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,
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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 (Chinese: 香港上海滙豐銀行有限公司), often called HSBC, is a very important bank in Hong Kong. It's a big part of the global HSBC banking group. This bank was actually the original company that started the whole HSBC group!
HSBC is the largest bank in Hong Kong. It has many branches and offices across Asia and other parts of the world. It's also one of only three banks in Hong Kong that can print real money for the Hong Kong dollar.
The bank began in British Hong Kong in 1865. It was officially made a company in 1866. Since then, it has always been based in Hong Kong. HSBC offers many services, like helping people with their everyday banking, supporting businesses, and managing investments.
Contents
HSBC in Hong Kong
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HSBC has about 220 branches all over Hong Kong. These branches offer many different ways to manage money. For a while, in the 1980s and 1990s, the bank was known as HongkongBank in its home city. Now, it uses the name HSBC.
Main Building in Hong Kong
The main building for HSBC in Hong Kong is at No. 1 Queen's Road Central. It's in the Central area of Hong Kong Island. This building was designed by a famous British architect named Norman, Lord Foster. When it was built, it was one of the most expensive buildings in the world!
Other Hong Kong Services
Hang Seng Bank
HSBC bought a large part of Hang Seng Bank in 1965. This happened during a tough time for Hang Seng Bank. The famous Hang Seng Index, which tracks stock prices in Hong Kong, is named after Hang Seng Bank.
PayMe App
In 2017, HSBC launched a mobile app called PayMe. It's a popular app in Hong Kong that lets people send money to each other easily. Anyone can use it, even if they don't have an HSBC bank account.
HSBC Insurance
HSBC Insurance offers different types of insurance. They help people and businesses in Hong Kong, mainland China, Macau, Singapore, India, and Malaysia get insurance.
HSBC Across Asia Pacific
HSBC has about 600 offices in 20 countries in the Asia Pacific region. This part of the bank is in charge of HSBC's operations in many Asian countries. It also owns parts of other banks in places like China.
Bangladesh
HSBC started working in Bangladesh in 1996. The bank mainly focuses on cities like Dhaka and Chittagong. It offers many services, including banking for businesses and individuals. HSBC Bangladesh is known for its high ratings, meaning it's a very strong and reliable bank. They also help with education for people with disabilities.
Brunei
HSBC Brunei closed its operations in Brunei in 2016. This was part of a bigger plan by HSBC to review its global business. By November 2017, all HSBC branches and ATMs in Brunei had closed. The remaining customer accounts were moved to a local bank called Baiduri Bank.
China
HSBC opened its first office in Shanghai in 1865. It has been in China almost continuously since then. In 2004, HSBC bought a large part of Bank of Communications, which was China's fifth-largest bank. This was a big step for HSBC in China. In 2007, HSBC's offices in mainland China became part of its special subsidiary, HSBC Bank (China).
India
HSBC bought another bank called The Mercantile Bank of India, London and China in 1959. Now, HSBC is one of the fastest-growing foreign banks in India. It helps people with banking and supports HSBC's global operations.
Indonesia
HSBC opened its first office in Jakarta, Indonesia, in 1884. After some closures due to world events, the bank got a new license in 1968. Today, it's one of the biggest foreign banks in Indonesia.
Japan
HSBC started in Japan in 1866, opening branches in cities like Yokohama and Osaka. It helped Japan develop its money system early on. HSBC mostly does investment banking in Japan. Since 2007, it has offered special private banking services for wealthy clients. In 2011, HSBC sold its private banking business in Japan to Credit Suisse. This was part of a plan to focus on its main businesses.
New Zealand
HSBC started operating in New Zealand in 1987. It offers many financial products from its 9 offices there.
Philippines
HSBC has been in the Philippines for over 110 years, since 1875. In its early days, it helped the sugar industry and financed railways. Today, HSBC Philippines has offices in major cities like Manila, Cebu, and Davao.
Singapore
In Singapore, HSBC opened its doors in December 1877. It's a full-service bank. In 2016, HSBC created a local bank in Singapore. This local bank now handles its everyday banking and wealth management for customers. HSBC's main office is at Mapletree Business City.
South Korea
HSBC is growing in South Korea. It has 11 branches, with the first one opening in Jemulpo in 1897.
Sri Lanka
HSBC has been in Sri Lanka for over 120 years, since 1892. It's one of the largest and most successful banks there. It leads in banking for businesses, capital markets, and issuing credit cards.
Taiwan
HSBC's history in Taiwan goes back to 1885. A full branch opened in Taipei in 1984. The bank now has 8 branches across the country. In 2007, HSBC bought The Chinese Bank in Taiwan. This made HSBC's branch network much larger, with 47 locations.
Thailand
HSBC was the first commercial bank to open in Thailand in 1888. It helped set up Thailand's financial system. For example, HSBC issued the first banknotes in Thailand in 1889. It also gave the first foreign loan to the Thai government for building railroads. In 2012, HSBC sold its everyday banking business in Thailand. Now, it only focuses on banking for businesses there.
Vietnam
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HSBC first opened an office in Saigon (now Ho Chi Minh City) in Vietnam in 1870. It reopened in 1992. In 2005, HSBC bought a part of Techcombank, a large Vietnamese bank. By 2008, HSBC owned 20% of Techcombank, becoming the first foreign bank to own such a large part of a local bank. In 2009, HSBC became the first foreign bank to set up its own local company in Vietnam.
Leadership
- Chairman: Peter Wong (since June 2021)
- Co-Chief Executives: David Liao and Surendra Rosha (since June 2021)
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
