To better serve Hong Kong’s growing population, the bank began expanding its retail branch network throughout the territory. [7] The bank initially leased its premises for HK$500 a month in 1864. The … HSBC aided Hong Kong’s reinvention as a postwar manufacturing centre, granting loans to build cotton mills and textile factories. 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. No checking account services, ATM services or internet banking … HSBC opened its first Japan operations in Yokohama in 1866, followed by branches in other trading ports such as Osaka, Kobe and Nagasaki. 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. By 1955, while HSBC was permitted to continue to operate the Shanghai branch, all its operations elsewhere in mainland China were closed. 1987, under the Chairmanship of William Purves, saw the bank's ownership of Marine Midland Bank increased to 100% and the acquisition of a 14.9% share in Midland Bank in the United Kingdom. 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. The bank provides a range of personal, commercial and corporate banking financial services across Asia. 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. HSBC also issued the first foreign loan to the Thai government for its railroad construction project. Reviews: 0 : Contact Page: Additional information: Write Review: Browse Review : Contact Information : The Hongkong and Shanghai Banking Corporation Ltd… The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$5.3 billion. In 1980, the Bank launched a hostile takeover bid for the Royal Bank of Scotland, although the bid was blocked by the British government. 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. The Bank offers consumer and commercial loans, mortgage, deposit products, internet … It opened a branch in Shanghai during April of that year, and started issuing locally denominated banknotes in both the Crown Colony and Shanghai soon afterwards. Branch … In Hong Kong, the local population sometimes refers to the bank as 獅子銀行, "the Lion Bank", after the pair of lion sculptures outside the bank's headquarters, which also appear in some banknotes. HSBC’s Daniel Klier examines the themes likely to dominate the run-up to the COP26 conference in November. 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. It opened its doors in December 1877. 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 [42], This article is about the Hong Kong bank. HSBC's presence in Taiwan dates back to 1885 when The Hongkong and Shanghai Banking Corporation appointed an agent in Tamsui. Further information about HSBC’s history is available in The HSBC Group: Our Story (PDF, 3.49MB). In anticipation of the Japanese invasion of Hong Kong in 1941, the Bank's head office moved to London. HSBC's main branch office in Thailand is situated in Bangkok on Rama IV Road opposite Lumpini Park. [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 (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. The lifts were built with technology used in the NASA space program and were originally transparent. It has established itself as one of the largest and most profitable banks operating in the country. For example, in 1889 HSBC issued the first banknotes in Thailand. He saw that better banking facilities would support Hong Kong’s commercial growth. "The Hongkong and Shanghai Bank" was established in British Hong Kong in 1865 and was incorporated as "The Hongkong and Shanghai Banking Corporation" in 1866, and has been based in Hong Kong (although now as a subsidiary) ever since. [citation needed], Operations of the group in the Asia Pacific are under this subsidiary, and it forms the regional headquarters for Asia Pacific. ACH Bank Code, Branch Code and Account Number information is used for Interbank GIRO transactions. SWIFT codes for all branches of HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE. For inquiries or complaints, please call HSBC's Customer Service at (02) 8858-0000 from Metro Manila, +1-800-1-888-8555 PLDT domestic toll-free, (02)7976-8000 from overseas, (International Access … HSBC does not conduct ordinary retail banking in Japan, but conducts investment banking in Tokyo and Osaka. Under Saunders' tenure the bank continued to expand. The Communist Party of China took over Shanghai in early 1949, towards the end of the civil war. Sir Thomas Jackson became chief manager in 1876. HSBC quickly became Hong Kong’s principal note issuer and remains so today. Its current headquarters are in Fort Bonifacio. The bank primarily focuses on urban areas and has branches in most areas of the capital city of Dhaka, it also has branches in the city of Chittagong. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in … 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. Today, HSBC's flagship office remains at the original Collyer Quay site where its first branch was opened. The head office moved back to Hong Kong in 1946. HSBC’s founder, Thomas Sutherland, was a Scotsman working in Hong Kong for a large shipping firm. For Group’s financial information please visit the investor relations section on our global corporate website. During the Japanese occupation the Bank's head office building was occupied as the headquarters of the Hong Kong Japanese military government. Moody's Investors Service. The acquisition made HSBC's nationwide branch network increase to 47. 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. to The Hongkong and Shanghai Banking Corporation Limited, Hongkong & Standard Chartered Bank Mauritius Limited against loan provided to Godrej East Africa Holdings Limited-33.89 vii) Guarantee amounting to USD 88 million (31‑Mar‑18 USD 88 million) given by the Company to DBS Bank Limited, Singapore and Sumitomo Mitsui Banking Corporation… 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. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in Hong Kong. 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. The famous English humorist P. G. Wodehouse was a junior employee at the Bank's London office in Lombard Street from 1900 to 1902, and used the bank as an inspiration for some of his early work, especially his 1910 novel Psmith in the City. During that period, it also adopted the idiosyncratic practice of calling its ATMs Electronic Teller Card (ETC) machines. [25] Today HSBC offers a range of financial products from a network of 9 offices.[26]. Hang Seng Bank Limited is headquartered in Hong Kong and reported total assets of HKD1.66 trillion at end-June 2019. The industry considered this move, giving HSBC a lead in the race to grab pieces of mainland China's banking market. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar. See our Cookie Policy. 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. The founder, Thomas Sutherland of the Peninsular and Oriental Steam Navigation Company, wanted a bank operating on "sound Scottish banking principles." At the heart of this industrialisation lay the bustling district of Mong Kok, where HSBC opened a branch in 1948. THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, … 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. Vaccine breakthroughs should usher in a brighter dawn for global economic prospects for 2021, says HSBC’s Janet Henry. In December 2011, HSBC announced to selling its private bank in Japan to Swiss peer Credit Suisse for an undisclosed sum, but at the end of October 2011 the value of the gross assets included in the sale was about $2.7 billion. Find out what we are doing to make banking easier for our customers and to support sustainable growth in the communities we serve. The bank survived because of large reserves and prudent forward planning, for example deciding to move the head office to London. On 1 April 2007, the mainland China offices of The Hongkong and Shanghai Banking Corporation transferred to its subsidiary HSBC Bank (China), and it started operations on 2 April. HSBC has made significant contributions to the establishment of solid foundations for Thailand's financial and banking sectors. 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. In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Can Tho. Lord Norman Foster’s design was a demonstration of the bank’s commitment to Hong Kong. The Hongkong and Shanghai Banking Corporation Limited participates in the deposit guarantee scheme of the United Kingdom. HSBC Premier has seven Premier branches in Japan including centers in the Hiroo, Akasaka, Marunouchi(flagship), Ginza, Yokohama, Ikebukuro, areas of Tokyo and one in Kobe. It has achieved leadership in Corporate Banking, Capital Markets and Credit Card issuance. On 1 January 2009, HSBC started operating its locally incorporated entity and became the first foreign bank to incorporate in Vietnam, after gaining approval from the State Bank of Vietnam (SBV) to set up a Wholly Foreign-Owned Bank (WFOB) in Vietnam in September 2008. The Hongkong and Shanghai Banking Corporation Limited (“HBAP”) 1 Queen's Road Central Hong Kong SAR HBAP was incorporated in Hong Kong in 1866 under the Laws of Hong Kong. In 1980, the Bank, now under the chairmanship of Michael Sandberg, acquired a 51% stake in Marine Midland Bank, of the United States of America, and continued its expansion with the establishment of Hongkong Bank of Canada (now HSBC Bank Canada) in 1981 and HongkongBank of Australia Limited (now HSBC Bank Australia Limited) in 1986. Please note this is English language only. In its early years of operation, HSBC serviced the booming Philippine sugar industry. The Hongkong and Shanghai Banking Corporation opened its first Indonesian office in Jakarta in 1884. In 2016, HSBC has created a locally incorporated bank in Singapore and has moved its retail and wealth business from HSBC Singapore Branch to the locally incorporated bank. LIST OF AFFECTED RATINGS The Hongkong and Shanghai Banking Corporation Limited: Swift codes. HSBC Bangladesh has a help center which operates on a daily basis. On 3 March 1865, HSBC opened for business at 1 Queen’s Road, Central. 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. The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. The next website will open in a new browser window or tab. 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). HSBC's history in the Philippines dates back more than 110 years with the establishment of their first branch no. In 2017, HSBC launched the PayMe brand and mobile app, which features as a social payment app in Hong Kong, available to all non-HSBC users.[16]. 3 The Hongkong and Shanghai Banking Corporation Limited Introduction Purpose The information contained in this document is for The Hongkong and Shanghai Banking Corporation Limited (‘the … For details about HSBC’s global operations and Group board members, go to our corporate website . 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… His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in Aug 1959. Decisive decade ahead for climate finance. Note: HSBC is not responsible for any content on third party sites, nor does a link suggest endorsement of those sites and/or their content. HSBC started operations in 1996. In 2007, The Hongkong and Shanghai Banking Corporation acquired The Chinese Bank in Taiwan. 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]. 622)) during the period from 1 January 2015 to 22 February 2016, the date of the report of the Directors of the Bank … The Hongkong & Shanghai Banking Corporation Ltd has 39 ACH Branch codes available in SG. 03 … The bank faced its greatest test during the Second World War. Sutherland’s vision was for a new bank, owned and managed locally, which would support international trade. The remaining accounts were all transferred to the local, Baiduri Bank on the same date. [19] On 9 & 10 November 2017, all HSBC Brunei branches and ATMs had ceased its operations. Please visit Subsidiary company reporting page for Hang Seng Bank Limited and The Hongkong and Shanghai Banking Corporation Limited and the Hongkong and Shanghai Banking Corporation Limited - Macau branch. But excluding the majority of the HSBC’s Private Banking business in Asia Pacific. [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. For more information Click Here . In Singapore, The Hongkong and Shanghai Banking Corporation Limited operates as a full service bank with its headquarters in Collyer Quay. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. [citation needed]. Find out about the work that HSBC and its employees do in the community, including information about the Hongkong Bank Foundation. New Zealand Branch The Hongkong and Shanghai Banking Corporation Limited… Swift Code HSBCHKHHGCC is the unique bank identifier for HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE's branch located in … Get details of 8 Aberdeen Centre branches of The Hongkong and Shanghai Banking Corporation Limited . 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 Hongkong and Shanghai Banking Corporation Limited Peter Wong Tung Shun is Deputy Chairman and Chief Executive of The Hongkong and Shanghai Banking Corporation Limited. 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]. Since 2007 it has expanded its HSBC Premier private banking services for the "Mass affluent" market or high-net-worth individual clients. The Hongkong and Shanghai Banking Corporation Ltd. Back : Review Avg. [31] Its 2 retail branches will be closed in March and June 2012 respectively.[32]. 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