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The bank is the fourth largest corporation in terms of assets ([1]). It reports its numbers in US dollars as 70% of its earnings come from outside the UK. Near 40% of its earnings is from operations in Hong Kong. Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. It is the largest bank in Hong Kong, and the second largest banking group in the world after Citicorp.
The bank's logo, an elongated hexagon shape, is an agglomeration of three symbols: the Scottish origin of Thomas Sutherland with the saltire, the red colour symbolising China, and the triangles at the side symbolising the bank being "open for business".
HSBC is one of the Big Four banks in the United Kingdom. Its shares form one of the largest components of the London Stock ExchangeThe London Stock Exchange (abbreviated LSE is a stock exchange market located in London. Founded in 1801, it is one of the largest stock exchanges in the world, with many overseas listings as well as UK companies. The former Stock Exchange Tower, based in. In traditional City jargon the bank is known as "Honkers and Shankers".
HSBC owns Hang Seng BankHang Seng Bank is Hong Kong's second largest bank and a subsidiary of HSBC. Central, Hong Kong. Building in the middle; the two buildings to the right are the old and new headquarters of Hang Seng Bank). See also Hang Seng Index External link http://main. after which the Hang Seng IndexHang Seng Index HSI ) is a capitalization-weighted stock market index in the Hong Kong Stock Exchange. It is used to record and monitor daily changes of the 33 largest companies of the Hong Kong stock market and as the main indicator of the overall market for stock prices in Hong Kong is named; it is one of the three banks which issues banknoteA banknote (more commonly known as a bill in the United States) is a kind of currency, issued as legal tender. With coins, banknotes make up the cash forms of all modern money. With the exception of non-circulating high-value or precious metal commemoratis for Hong Kong (the other two being the Bank of China (Hong Kong)The Hong Kong operations of the Bank of China were regrouped into Bank of China (Hong Kong (BOCHK) in 2001. BOCHK got listed on the Hong Kong Stock Exchange in October 2002. The headquarters of the BOCHK are located in the Bank of China Tower. BOCHK is on and Standard Chartered Bank).
The Hong Kong headquarters of the bank are in Central, Hong Kong, in the HSBC Tower, designed by the British architect Norman Foster.
HSBC established its Shanghai branch office on the 3rd of April, 1865. Aside from the period 1941-1945, in which Japanese aggressors forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. Chinese authorities had offered to lease HSBC its old headquarters on The Bund in 1995 but the offer was turned down. Currently HSBC is located in its own HSBC Tower across the river in the Pudong area of Shanghai.
On 6 Aug 2004, HSBC announced to pay US$1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD$62.6 million for an 8% stake) and US$733 million for a 10% stake in Ping An Insurance .
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