HSBC Full Form | What Does HSBC Stand For?

HSBC: Hong Kong and Shanghai Banking Corporation

HSBC Full Form

HSBC Full Form

HSBC full form stands for Hong Kong and Shanghai Banking Corporation. It is a British multinational investment bank and financial services company in the world. It is the largest bank in Europe, with total assets of US 2. 2.715 trillion (as of August 2020).

Its name is derived from the founding of this company. Hong Kong and the Shanghai Banking Corporation opened branches in Shanghai in 1865 and were first formally incorporated in 1866. It has relocated to British Hong Kong and now its current form by Hong Kong and Shanghai Banking Corporation in 1991 as a new group holding company in London.

Brief Explanation

HSBC full form (Hong Kong and the Shanghai Banking Corporation) is organized into four business groups: commercial banking, global banking and markets (investment banking), retail banking and wealth management, and global private banking. In 2020, the bank announced that it will strengthen Global with Global Private Banking to create wealth and personal banking, strengthen its retail banking and wealth management.

HSBC has approximately 3,300 offices and approximately 38 million subscribers in 65 countries and Africa, Asia, Oceania, Europe, North America, and South America. As of 2014, it was the sixth-largest public company in the world, according to Forbes Magazine.

Brief History

  • Hong Kong and Shanghai Bank were founded on March 3, 1865, by Thomas Sutherland in the then British colony of the British House, and a month later Shanghai benefited from starting a business in China, including the opium trade.
  • It was formally incorporated as the Hong Kong and Shanghai Banking Corporation on 14 August 1866 by an ordinance of the Legislative Council of Hong Kong.
  • In 1980, HSBC acquired a 51% stake in US-based Marine Midland Bank, which spread across the entire property.
  • On October 6, 1989, the Legislative Council renamed Hong Kong and Shanghai Banking Corporation Limited, originally in 1929, amending its Governing Ordinance, renamed the Banking Commissioner and Pass registered as a regular bank.

What Is The Full Form Of HSBC?

HSBC full form stands for Hong Kong and Shanghai Banking Corporation. HSBC Holdings PLC is a British multinational investment bank and financial services company. Hong Kong and the Shanghai Banking Corporation opened branches in Shanghai in 1865 and were first formally incorporated in 1866.

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