HSBC is the world’s second-largest banking and financial services group. The origins of the bank lie in Hong Kong and Shanghai, where its branches were first open in 1865. Number of location is around 7,500 offices in 87 countries and territories; Only in united states it has more than 460 bank branches, 210.000 shareholders, 300,000 staff, and approximately 128 million customers worldwide. Throughout the world among the multinational banking giants HSBC is one of the leading largest banking groups. A A Flock hart, Chairman since 1 January 2011 and a Director since July 2010. An executive Director of HSBC Holdings plc and Chairman, Europe, Middle East, Africa, Latin America and Commercial Banking, Joined HSBC in 1974.
HSBC Private Bank is the marketing name for the private banking business, HSBC group has a significant presence in each of the world’s financial markets, with the America, Asia Pacific and Europe each representing one third of the business, with around 8,000 offices 87 countries and territories, 210,000 shareholders, 300,000 staff and 128 million customers worldwide, HSBC arguably has the most valuable place in multinational banking giants. As HSBC announces so many facilities to their customer, Retail Banking and Wealth Management were previously referred to as Personal Financial Services. This rename was announced during HSBC's 2011 Investor Day. Commercial bank also provides financial services to small, medium-sized and middle-market enterprises; the bank said it would be hiring at least 2,000 extra people in mainland China and Singapore over the next five years, as it seeks to tap the fast growing Asia Pacific market. HSBC was founded in Hong Kong and Shanghai in 1865 and the bank regards Asia as its most important region”. FINANCIAL SERVICES:
* Customer’s Personal financial services.
* Current and savings accounts.
* Car financing.
* Credit cards.
HSBC sponsors the Great Canadian Geography Challenge, which has had around 2 million participants in the past 12 years. Since 2001, HSBC has sponsored the Celebration of Light, an annual musical fireworks competition in Vancouver, British Columbia, Canada. In 2007 HSBC announced it would be a sponsor of the National Hockey League's Vancouver Canucks and Calgary Flames. HSBC has also sponsored a professional gaming team that was disbanded late 2007.HSBC sponsored the 2009 British and Irish Lions tour to South Africa. GLOBAL SERVICE CENTER:
HSBC develops global technology centre in Pacific Asia for HSBC group, the main theme is to lower cost economies in order to reduce the cost of providing services in developed and well economical countries. UK Retail Banking:
The UK Personal Financial Services business continues, To build its position as a leading provider of financial Services to mass affluent customers in the UK through, The Premier and Advance propositions. The UK Commercial Banking strategy is to be: • the ‘Leading International Business’ bank, using HSBC’s extensive geographical network together With product expertise in payments, trade, Receivables finance and foreign exchange to actively support customers who are trading and investing across borders; and • the best bank for small and medium-sized Enterprises (‘SMEs’) in target markets, building global scale and creating efficiencies by sharing systems and best practice, including customer experience, training and product offerings, and selectively applying a direct banking model.
DEPTH OF ANALYSIS:
Consolidated income statement for the year ended 31 December 2010
£m £m Interest income...