History of HSBC
HSBC ( Hongkong Shangahai and Banking corporation) is among the largest banks in the world. It came into being in the year 1865 to enhance the growing trade between India, China and Europe. The idea of forming the bank came from the mind of Thomas Sutherland who had envisioned the growing demand of banking facilities in Chinese market and consequently the bank was opened in 1865 in Honkong and Shangahai.
Very soon the bank had opened up branches around the world. The bank had opened up its branches in Europe,North America but the importance was given more to China. HSBC was a pioneer in many aspects as far as banking is concerned.In Thailand it was the country’s first bank to print currency notes. One of the most prominent feature of HSBC was trade finance. At the same time merchant banking also played an important part. By the end of eighteenth hundred century HSBC was the banker to the Hongkong government and had also handled public loans in China.
It is known as world’s local bank.
It has its headquarters in London
It has around more than nine thousand offices in different countries ranging from Europe to South East Asia.
It has been listed among the largest stock exchanges in the world comprising of London Stock exchange, NYSE, Hong kong stock exchange as well as Paris and Bermuda stock exchanges. The shares of the company are traded in 100 countries among more than two hundred thousand people.
Following is the list of financial services provided by the bank –
1. Commercial Banking
2. Corporate and institutional Banking
3. Investment Banking
Commercial Banking – HSBC is one of the leaders in providing banking services to small and mid-cap enterprises. The company has over 40,000 customers in India. Commercial banking provides a range of services which consisting of trade services, business accounts and cash management to customers.
Commercial Banking in India is present in around 50... [continues]
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