HSBC Holdings PLC

HSBC Holdings PLC

▪ British bank holding company
      bank holding company based in London that originated as the Hongkong and Shanghai Banking Corporation, Ltd., in 1865, with offices in Hong Kong, Shanghai, and London. It was established at a time of growing trade between China, India, and Europe. Before the close of the 19th century, the Hongkong and Shanghai Banking Corporation had become a leading banker for governments, including those of Hong Kong and China, in addition to many British government interests. Through its emphasis on financing international trade, the bank had opened early branches in Japan in 1866, India in 1867, the Philippines in 1875, and Singapore in 1877.

      The bank weathered two world wars and episodes of civil unrest. Although many Asian offices were closed and a significant number of staff members imprisoned by the Japanese during World War II, the bank's Hong Kong headquarters reopened in 1946 and became involved in postwar reconstruction. Within a few years, however, branches in mainland China were forced to close, owing to civil war and political and economic change. To counter these limitations, the bank began expanding its operations beyond China; it established the Hongkong and Shanghai Banking Corporation of California as a subsidiary in 1955, having already conducted business in San Francisco since 1865 and New York City since 1880. Operations in the Middle East were established through the purchase of the British Bank of the Middle East in 1959. In regions where it was already conducting business, the bank diversified its services and investments by acquiring interest in banks such as Hang Seng of Hong Kong in 1965, which soon became an important mortgage lender.

      Given its status as a diversified global banking corporation, Hongkong and Shanghai Banking Corporation reorganized as a holding company, HSBC Holdings PLC, in 1991. Its 1992 acquisition of Midland Bank (Midland Bank PLC), which at the time was the United Kingdom's largest commercial bank, made HSBC one of the largest bank and financial companies in the world. Numerous acquisitions followed, including Household Financial, a U.S. finance company that specialized in loans and mortgages to lower- and middle-market clients, purchased in 2003.

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Universalium. 2010.

Look at other dictionaries:

  • HSBC Holdings plc —   [eɪtʃesbi siː həʊldɪȖz iːɛl siː], international tätiger britischer Finanzkonzern mit Geschäftsschwerpunkt im asiatisch pazifischen Raum; gegründet 1991, Sitz: London. Zum Konzern gehören als Tochtergesellschaften u. a. die Hongkong and Shanghai …   Universal-Lexikon

  • HSBC Holdings Plc — …   Википедия

  • HSBC Holdings — HSBC Logo de HSBC Holdings PLC Création 1865 (Hong Kong) Fondateur(s) Thomas Sutherland …   Wikipédia en Français

  • HSBC — Holdings plc Type Public limited company Traded as LSE: HS …   Wikipedia

  • HSBC — Holdings plc Rechtsform Public limited company ISIN GB0005405286 …   Deutsch Wikipedia

  • HSBC — Holdings plc Tipo Sociedad de responsabilidad limitada Fundación 1865 Fun …   Wikipedia Español

  • HSBC Trinkaus —   HSBC Trinkaus Burkhardt AG Sitz Düsseldorf, Deutschland Rechtsform Aktien …   Deutsch Wikipedia

  • HSBC Trinkaus & Burkhardt — HSBC Trinkaus Burkhardt AG Unternehmensform Aktiengesellschaft …   Deutsch Wikipedia

  • HSBC Trinkaus & Burkhardt AG — HSBC Trinkaus Burkhardt AG Unternehmensform Aktiengesellschaft …   Deutsch Wikipedia

  • HSBC Trinkaus & Burkhardt KGaA — HSBC Trinkaus Burkhardt AG Unternehmensform Aktiengesellschaft …   Deutsch Wikipedia

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