What is HSBC?

Published by Thomas Herold in Banking, Corporate Finance, Investments, Real Estate, Trading

'HSBC' is explained in detail and with examples in the Investments edition of the Herold Financial Dictionary, which you can get from Amazon in Ebook or Paperback edition.

HSBC stands for Hong Kong Shanghai Banking Corporation. This largest international bank in the world by balance sheet has over $1.63 trillion in total assets. The British London based banking giant counts more than 47 million customers as part of its international network spanning 71 countries and territories and 6,000 offices around the globe.

HSBC was founded by a British businessman in 1865 to finance the growing trade between the West and Asia, and especially China. Today HSBC remains among the largest and most impressive banking and financial services conglomerate groups in the world by any relevant measure. Their stated goal is to be recognized as the globe’s foremost and best respected international bank.

HSBC is operated globally through four major divisions. These include its Commercial Banking, Global Banking and Markets, Private Banking, and Retail Banking and Wealth Management divisions. Among the banking group’s many achievements over the centuries, the group was responsible for setting up the modern day Chinese currency and banking system back during the reign of the last Chinese imperial dynasty. This financial and currency system which HSBC established for China is still used today.

HSBC Commercial Banking operates throughout 55 different nations and territories. Their operation covers both developing and developed world markets that are most important to their many customers. The division serves a great variety of customer types, ranging from major multinational corporations to small outfits to medium sized companies. It offers them the financial tools they need to run their operations effectively.

One of the bank’s most appealing features is that it can call upon its vast and multinational financial strength to support clients with term loans, project and acquisition finance, and daily working capital. The bank also offers its customers the financial and legal know how to assist them in engaging in effective stock and bond issues and offerings.

The commercial banking group supports specialist staff in four primary fields. Global Liquidity and Cash Management provides businesses with tools to effectively manage their liquidity. The online platform helps the customers to transact payments seamlessly between currencies and countries. Global Trade and Receivable Finance offers financing to suppliers and buyers in the trade cycle so that they can cover their supply chains.

Global Banking offers its commercial customers a variety of services such as capital financing via equity, debt, and advisory services. Insurance and Investments provides protection in the form of financial, business, and trade insurance. It also offers wealth management for corporations, employee benefits, and other commercial insurance products to protect against risk.

The Global Banking and Markets division works with customers to help them access commercial opportunities for developed and developing markets. This division operates in three groups including the corporate sector group, the resources and energy group, and the financial institutions group. Services and products are comprised of financing, advisory, research and analysis, prime services, trading and sales, securities services, and transaction banking.

HSBC Private Bank delivers global private banking services that include wealth management, investment, and private banking services to its individual, business, and executive clients. The division’s goal is to become the world’s foremost private bank for business owners who are high net worth individuals leveraging the group’s longstanding globally leading commercial services and heritage.

Retail Banking and Wealth Management provides its tens of millions of customers with a broad range of products and services. These include personal banking, internet banking, loans, mortgages, savings, insurance, investments, and credit cards. They offer a variety of proprietary services and accounts that include HSBC Premier, HSBC Advance, personal online banking, financial planning, and wealth solutions.

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The term 'HSBC' is included in the Investments edition of the Herold Financial Dictionary, which you can get from Amazon in Ebook or Paperback edition.