[2][9] Shares of the bank were one of 13 securities initially traded on the Shanghai Stock Exchange, and were traded on that exchange until the Japanese closed the exchange in 1941. In 2007, The Hongkong and Shanghai Banking Corporation acquired The Chinese Bank in Taiwan. HSBC established its Shanghai branch office on 3 March 1865 and has had a continuous presence in the city[20] since then, except during the Japanese Occupation. HSBC acquired a 62.14%, controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. [42], This article is about the Hong Kong bank. The bank now has a network of 8 branches (Hyperlink to service channel[clarification needed]) nationwide, including Taipei, Jianguo, Banqiao, Tianmu, Taoyuan, Taichung, Tainan, and Kaohsiung. A full service branch was established in Taipei in 1984. Hang Seng Bank Limited is headquartered in Hong Kong and reported total assets of HKD1.66 trillion at end-June 2019. In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Can Tho. Its current headquarters are in Fort Bonifacio. Still, the original location of the bank was considered crucial and the founders chose Wardley House in Hong Kong since the construction was based on some of the best feng shui in Colonial Hong Kong. 90 Rosario Street (Now Quintin Paredes Street) in Binondo, Manila in 1875. The building has 62 escalators, which at the time of construction, was the most on any single site in the world. In Hong Kong, the local population sometimes refers to the bank as 獅子銀行, "the Lion Bank", after the pair of lion sculptures outside the bank's headquarters, which also appear in some banknotes. HSBCHKHHGCC - SWIFT Code (BIC) - HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE in HONG KONG - HONG KONG. Hongkong and Shanghai Banking Corp. Ltd (The), Bank of China (Hong Kong) Limited: HSBC Hong Kong and BOC Hong Kong remove fees for small accounts, a credit negative. Hong Kong’s economy was dominated by shipping and merchant trading. The bank which comprise retail, commercial and global banking services will no longer take on any new accounts, facilities or business from that date. The building broke many construction records and included many design innovations. HSBC uses cookies to give you the best possible experience on our websites. Under the HSBC brand, the bank maintains a network of around 220 branches throughout the Hong Kong SAR, from which it offers a wide range of financial products and services. 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. All rights reserved. To better serve Hong Kong’s growing population, the bank began expanding its retail branch network throughout the territory. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank to purchase an 11% stake in Bank of Shanghai (HSBC paid US$62.6 million for an 8% stake) and US$733 million for a 10% stake in Ping An Insurance. The Hongkong and Shanghai Banking Corporation opened its first Indonesian office in Jakarta in 1884. Find out about the work that HSBC and its employees do in the community, including information about the Hongkong Bank Foundation. SWIFT Code HSBCHKHHHKH Breakdown; SWIFT Code: HSBC HK HH HKH: Bank Code: HSBC - code assigned to HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE: Country Code: HK … The Hongkong & Shanghai Banking Corporation Ltd has 39 ACH Branch codes available in SG. To support the bank’s growth into a global financial institution, HSBC invested in new headquarters. HSBC's presence in Taiwan dates back to 1885 when The Hongkong and Shanghai Banking Corporation appointed an agent in Tamsui. The lifts were built with technology used in the NASA space program and were originally transparent. Reviews: 0 : Contact Page: Additional information: Write Review: Browse Review : Contact Information : The Hongkong and Shanghai Banking Corporation Ltd… To stimulate and accelerate this trade, HSBC issued banknotes in Hong Kong and mainland China, which were trusted by local merchants as a stable currency. In December 2011, HSBC announced to selling its private bank in Japan to Swiss peer Credit Suisse for an undisclosed sum, but at the end of October 2011 the value of the gross assets included in the sale was about $2.7 billion. HSBC quickly became Hong Kong’s principal note issuer and remains so today. [citation needed], Operations of the group in the Asia Pacific are under this subsidiary, and it forms the regional headquarters for Asia Pacific. Branch … The company's business ranges from the traditional High Street roles of retail banking, commercial banking, corporate banking to investment banking, private banking and global banking. During the American regime, HSBC was called to advise on Philippine currency reform. HSBC Premier has seven Premier branches in Japan including centers in the Hiroo, Akasaka, Marunouchi(flagship), Ginza, Yokohama, Ikebukuro, areas of Tokyo and one in Kobe. The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$5.3 billion. The Hongkong and Shanghai Banking Corporation Limited (“HBAP”) 1 Queen's Road Central Hong Kong SAR HBAP was incorporated in Hong Kong in 1866 under the Laws of Hong Kong. HSBC Singapore is a Qualifying Full Bank and offers a comprehensive range of financial services including commercial banking, investment and private banking, insurance, forfaiting and trustee services, and securities and capital markets services. A special service called NRB Services is also available for non-resident Bangladeshis, this service allows consumers to maintain accounts in US Dollars, Pound Sterling and Euros. In Singapore, The Hongkong and Shanghai Banking Corporation Limited operates as a full service bank with its headquarters in Collyer Quay. Its main office is located at Mapletree Business City in Pasir Panjang, HarbourFront. The famous English humorist P. G. Wodehouse was a junior employee at the Bank's London office in Lombard Street from 1900 to 1902, and used the bank as an inspiration for some of his early work, especially his 1910 novel Psmith in the City. HSBC Bank Plc: The HongKong and Shanghai Banking Corporation Limited - Hong Kong Exchanges and Clearing Limited - Form 8.5 October 8, 2019, 8:30 AM EDT SHARE THIS ARTICLE HSBC is one of the three commercial banks which are authorised to issue banknotes for Hong Kong - the other two being the Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong). In September 2008, HSBC completed the increase of its stake in Techcombank to 20%, became the first foreign bank in Vietnam to hold a 20% interest in a domestic bank. HSBC continued to invest and grow in Hong Kong and the surrounding region into the 21st century. HSBC's history in the Philippines dates back more than 110 years with the establishment of their first branch no. HSBC also issued the first foreign loan to the Thai government for its railroad construction project. [11] Saunders took this role until retirement in 1972 and was succeeded as Chief Manager in 1964 by H.J. [40], Known as Chief Managers prior to 1986; in 1991, the super-ceding position of Group Chief Executive of HSBC was formed, with the Chief Executive of the Hongkong Shanghai Banking Corporation now being the Asia-Pacific regional head.[40]. Swift codes. Please note this is English language only. Under Saunders' tenure the bank continued to expand. The bank faced its greatest test during the Second World War. The Hongkong and Shanghai Banking Corporation Ltd. Back : Review Avg. HSBC has made significant contributions to the establishment of solid foundations for Thailand's financial and banking sectors. HSBC aided Hong Kong’s reinvention as a postwar manufacturing centre, granting loans to build cotton mills and textile factories. In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship. During that period, it also adopted the idiosyncratic practice of calling its ATMs Electronic Teller Card (ETC) machines. Employees of the bank have been offered fair redundancy packages. Swift Code HSBCHKHHHKH is the unique bank identifier for HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE's branch located in … From the late 1950s the bank began to grow and diversify by acquiring other banks, including Hong Kong’s Hang Seng Bank in 1965. The Communist Party of China took over Shanghai in early 1949, towards the end of the civil war. Retrieved 2018-06-03, "HSBC to launch new mobile P2P payment platform in the 'next few days, "UPDATE 4-Credit Suisse buys HSBC's private bank in Japan", "List of registered banks in New Zealand, Reserve Bank of New Zealand", HSBC to incorporate its local operations in May, Yahoo news 2016-02-05 Retrieved 2018-05-20, HSBC SINGAPORE TO TRANSFER ITS RETAIL BANKING AND WEALTH MANAGEMENT BUSINESS TO LOCALLY INCORPORATED SUBSIDIARY BY 9 MAY 2016, HSBC Press Release 2016-02-05 Retrieved 2018-05-20, HSBC Statement released in Jan 2012 - Changes to HSBC business operations in Thailand. In 2017, HSBC launched the PayMe brand and mobile app, which features as a social payment app in Hong Kong, available to all non-HSBC users.[16]. Today, HSBC Philippines operates in key Philippine cities such as Cebu and Davao. He saw that better banking facilities would support Hong Kong’s commercial growth. Hong Kong is unusual in that it is one of the few countries or territories where commercial banks are still permitted to issue their own banknotes. HSBC opened its first Japan operations in Yokohama in 1866, followed by branches in other trading ports such as Osaka, Kobe and Nagasaki. In 1991, the super-ceding position of Group Chairman of HSBC was formed; since then, the Chairman of the Hongkong and Shanghai Banking Corporation has been held as an independent position, held concurrently by the Chief Executive of the Hongkong and Shanghai Banking Corporation, or held by the Group Chief Executive of HSBC ex-officio. [7], On 6 October 1989, it was renamed by the Legislative Council, by an amendment to its governing ordinance originally made in 1929, The Hongkong and Shanghai Banking Corporation Limited, and became registered as a regulated bank with the then Banking Commissioner of the Government of Hong Kong.[12]. ACH Bank Code, Branch Code and Account Number information is used for Interbank GIRO transactions. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in Hong Kong. Notable events included being the first bank established in Thailand[citation needed], in 1888, where it printed the country's first banknotes; acting as banker for the Hong Kong government from the 1880s; and participating in the management of British colonial government accounts in China, Japan, Penang and Singapore. HSBC’s founder, Thomas Sutherland, was a Scotsman working in Hong Kong for a large shipping firm. [29], The retail and wealth business operated through the locally incorporated bank has 12 branches incorporating 10 HSBC Premier Centres and 33 Automated Teller Machines in Singapore.[30]. A period of expansion followed, with new buildings constructed in Bangkok (1921), Manila (1922) and Shanghai (1923), and a new head office building in Hong Kong in 1935. Having been able to restart its operations after the Second World War, it was again forced to close in the mid-1960s, however the Bank was granted a new banking licence in 1968 its operations have grown to make it one of the largest foreign banks operating in Indonesia.[22]. People using this service can freely remit money from Bangladesh to any part of the world and can access their money from any HSBC booth around the world. HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE1 QUEEN'S ROAD CENTRAL, CENTRAL AND WESTERN … The Hongkong and Shanghai Banking Corporation Limited 4 Further information about HSBC’s history is available in The HSBC Group: Our Story (PDF, 3.49MB). HSBC is known in Cantonese as “Wayfoong”, which means “focus of wealth” or “abundance of remittances.”. In July 2007, HSBC became the first foreign bank to increase its stake in Techcombank to 15%. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. The Hongkong and Shanghai Banking Corporation Limited (India) was formerly known as Mercantile Bank of India and changed its name to The Hongkong and Shanghai Banking Corporation Limited (India… The … On 1 January 2009, HSBC started operating its locally incorporated entity and became the first foreign bank to incorporate in Vietnam, after gaining approval from the State Bank of Vietnam (SBV) to set up a Wholly Foreign-Owned Bank (WFOB) in Vietnam in September 2008. HSBC’s Daniel Klier examines the themes likely to dominate the run-up to the COP26 conference in November. The Bank offers consumer and commercial loans, mortgage, deposit products, internet … The HSBC Hong Kong headquarters building is located in No 1 Queen's Road Central in the Central district on Hong Kong Island. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in … [31] Its 2 retail branches will be closed in March and June 2012 respectively.[32]. New Zealand Branch The Hongkong and Shanghai Banking Corporation Limited… Turner was succeeded in 1962 by Jake Saunders. Lord Norman Foster’s design was a demonstration of the bank’s commitment to Hong Kong. It was heavily involved in the early development of Japan's current monetary system, and consulted with the government regarding fiscal policy, currency printing and related matters. But excluding the majority of the HSBC’s Private Banking business in Asia Pacific. It has ended Citibank and Standard Chartered's duopoly on international banking in the Philippines. In 1980, the Bank launched a hostile takeover bid for the Royal Bank of Scotland, although the bid was blocked by the British government. 03 … The Hongkong and Shanghai Banking Corporation Limited (HSBC) provides commercial banking services. The acquisition made HSBC's nationwide branch network increase to 47. HSBC (Chinese: 滙豐; Cantonese Yale: Wuihfūng), officially known as The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. and its intention to maintain only corporate banking business in Thailand. During his twenty-six-year tenure, the Bank became a leader in Asia. The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. LIST OF AFFECTED RATINGS The Hongkong and Shanghai Banking Corporation Limited: It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar. This means that it is responsible for entities such as HSBC Bank Australia Limited, Hang Seng Bank Limited, HSBC Bank (China) Company Limited, HSBC Bank Malaysia Berhad (since 2009), HSBC Bank (Vietnam) Limited, HSBC Bank (Taiwan) Limited and HSBC Insurance (Asia-Pacific) Holdings Limited, and the management of stakes in Bank of Communications (19.9%), Barrowgate Limited (24.64%) and Industrial Bank. ilovehongkong.org Retrieved 2018-06-03, Note-issuing Banks from HKMA website. Progress has been made in the five years since the Paris Agreement – but bigger changes are coming. Sutherland’s vision was for a new bank, owned and managed locally, which would support international trade. The bank built a succession of modern head offices on the site. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. The third generation head office, completed in 1935, was the first air-conditioned building in Hong Kong. [hœ́ːŋ kɔ̌ːŋ sœ̀ːŋ hɔ̌ːy wùːy fóŋ ŋɐ̏n hɔ̏ːŋ jɐ̬u hàːn kóŋ síː], Peninsular and Oriental Steam Navigation Company, Banking Commissioner of the Government of Hong Kong, "The Hongkong and Shanghai Banking Corporation", Learn how and when to remove this template message, HSBC Insurance (Asia-Pacific) Holdings Limited, Blind Education and Rehabilitation Development Organisation, Mercantile Bank of India, London and China, "The Hongkong and Shanghai Bank Ordinance (Number 2 of 1866)", "Latest Formula 1 Breaking News - Grandprix.com", "The Hongkong and Shanghai Banking Corporation Limited Ordinance (Number 6 of 1929) (Chapter 70, 1950)), amended by L.N. The head office moved back to Hong Kong in 1946. Internal loss-absorbing capacity available increased by HK$13.9bn from June 2020 to September 2020 largely from an increase in regulatory capital of HK$14.1bn. HSBC (Chinese: 滙豐; Cantonese Yale: Wuihfūng), officially known as The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. Most of its Asia network closed and many staff were interned. Business Identifier Codes (BIC codes) for thousands of banks and financial institutions in … [27][28] The banking services provided from the location will be available until 10 December 2020, Thursday. Although the Hong Kong Government changed the official spelling of "Hongkong" to "Hong Kong", by the instructions of the Secretary of State for the Colonies, on 3 September 1926,[41] HSBC uses the older Hongkong, as the bank's name was conceived before the official declaration of the modern two-word name, and it was decided to retain the single word spelling in the Bank's name: Hongkong. THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, … At the heart of this industrialisation lay the bustling district of Mong Kok, where HSBC opened a branch in 1948. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in Aug 1959. 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