TOPIC

/ company

HSBC

HSBC is one of the world's largest banking and financial services organisations, serving around 39 million customers across its wealth and personal banking, commercial banking and global banking & markets segments. The bank was established in Hong Kong in 1865 and now operates in 62 countries. In 1993, the lender moved its headquarters to London following its acquisition of Midland Bank in the UK.

CFO / Finance Director

Stuart Gulliver (Group Chief Executive)

Industry

Banking, Financial services

Website

hsbc.com

Headquarters address

8 Canada Square, Canary Wharf, London, United Kingdom

Stock Code

LSE:HSBA
SEHK:0005
NYSE:HSBC (ADR)

Year founded

3 March 1865

last updated:

30 September, 2024

Elderly residents in a stretching group exercise on November 15, 2024. Photo: Dickson Lee

Banking & finance

Banks, insurers rush for gold in Hong Kong’s ‘silver-hair economy’

Residents older than 65 years made up about 22 per cent of Hong Kong’s population of 7.5 million people in 2023, according to government data.

6 hours ago

Banking & finance

Hong Kong employers seek more relationship managers and data analysts next year

25 Dec 2024 - 8:00AM

Hong Kong transport

HSBC’s PayMe now accepted by 27,000 Hong Kong taxi drivers

23 Dec 2024 - 7:27PM

Hong Kong Monetary Authority (HKMA)

Hong Kong banks cut lending rates, but HKMA warns of volatility ahead

The latest rate cuts by lenders such as HSBC and Bank of China will lighten the monthly burden on mortgage borrowers by about HK$351 to HK$22,452.

19 Dec 2024 - 4:50PM

The HKMA’s interest-rate cut has given Hong Kong business owners and mortgage holders a reprieve. Photo: Shutterstock

Banking & finance

Exclusive | China-UAE ties evolve as Gulf nation acts as global ‘superconnector’

China’s growing heft in innovative industries is driving partnerships with the UAE, HSBC’s country head says.

17 Dec 2024 - 8:38AM

Banking & finance

HSBC’s unit sued in Australia for laxity in preventing online scams

The Australian Securities and Investment Commission (ASIC) lodged a claim against HSBC Bank Australia in relation to 950 reports totalling A$23 million.

16 Dec 2024 - 4:02PM

Banking & finance

HSBC, IFC sign US$1 billion facility to support trade financing

Partnership will help trade finance get to where it is needed, fuelling a segment that is crucial to job creation and economic growth, lender says.

12 Dec 2024 - 8:00AM

An aerial photo taken on December 10, 2024, shows a cargo ship loaded with containers leaving Lianyungang Port in east China’s Jiangsu Province. Photo: Xinhua

Banking & finance

Hong Kong US$2.7 billion infrastructure bond offering is undersubscribed

The offering sees underwhelming investor demand, missing expectations.

7 Dec 2024 - 1:23AM

Hong Kong property

1 in 6 Hongkongers are eyeing home purchase in next 5 years: HSBC

Around 300,000 households will be in the market, exceeding expected supply, the lender estimates.

6 Dec 2024 - 7:09PM

Banking & finance

Exclusive | HSBC to feature ex-ECB president Draghi and Ark Investment’s Wood at summit

Global Investment Summit will run from March 25 to 27 next year.

27 Nov 2024 - 12:45PM

An HSBC branch in Mong Kok. Photo: Nora Tam

Hong Kong society

Hong Kong transgender woman slams HSBC for outing her with letter to employer

Christine Chu says HSBC sent letter to employer over ‘discrepancies’ in its records, despite receiving copy of Chu’s updated identity card.

23 Nov 2024 - 6:03PM

HSBC has argued that it took all necessary steps to clarify the woman’s information in accordance with regulations. Photo: Nora Tam

Focus

Global CEOs see new hopes, old threats in Hong Kong vs Trump 2.0

‘People are leery of investing a lot of money in a country that is part of geopolitical tensions,’ Oaktree Capital’s Howard Marks says.

25 Nov 2024 - 10:26AM

Banking & finance

‘China plus one’ strategy to boost Asia’s growth amid Trump’s trade war

Diverting investments from China to neighbouring economies as a hedge against tariffs and geopolitical risks will boost Asia’s growth, HSBC’s Elhedery says.

19 Nov 2024 - 5:00PM

Singapore

Singapore sentences O.K. Lim to over 17 years in prison

The Hing Leong founder, also known as Lim Oon Kuin, was earlier convicted of two charges of cheating HSBC and one count of abetting forgery.

18 Nov 2024 - 5:59PM

Hin Leong founder Lim Oon Kuin, also known as O.K. Lim, pictured in 2013. Photo: Reuters

Bonds

Hong Kong to issue HK$20 billion retail infrastructure bond

The bond, which have a tenor of three years, will provide assured returns of 3.5 per cent to be paid every six months.

18 Nov 2024 - 2:54PM

The proceeds from the HK$20 billion bond will be used to fund key infrastructure projects. Photo: Legco

Bonds

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

13 Nov 2024 - 10:07AM

Banking & finance

HSBC job losses to begin in weeks amid lender’s sweeping overhaul

The head of HSBC Holdings’ new global wholesale banking unit said the lender aims to wrap up its restructuring ‘very quickly’.

8 Nov 2024 - 2:22PM

Interest rates

HSBC, 5 other Hong Kong banks cut interest rates to lowest in 2 years

Cuts could lighten monthly mortgage burden by HK$709 for a typical HK$5 million, 30-year loan, a broker says.

8 Nov 2024 - 4:45PM

Office workers crossing a busy street near a HSBC branch in Mong Kok on October 22 Photo: Nora Tam

Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

8 Nov 2024 - 11:06AM

Hong Kong economy

Editorial | The history of British firms still matters

Xia Baolong, a top Beijing official, has met with the heads of major UK firms who have helped shape Hong Kong over a century or more.

4 Nov 2024 - 5:30AM

Cathay Pacific

Now is a good time to buy a cheap plane ticket in China, HSBC tells travellers

Carriers adding more routes and economic uncertainty on the mainland will put pressure on airlines to cut prices, HSBC says.

1 Nov 2024 - 4:00PM

Travellers waited to board a plane at an airport in Chengdu, China. Photo: Reuters

Banking & finance

Chinese market regulator grants HSBC domestic fund custody licence

Lender joins four other foreign banks with right to provide custody services to onshore funds domiciled in mainland China.

1 Nov 2024 - 2:59PM

The HSBC building in Central, Hong Kong, pictured on October 31, 2024. Photo: Jelly Tse

Hong Kong politics

What do Beijing official’s Jardine Matheson, HSBC meetings mean for Hong Kong?

Experts weigh in on back-to-back meetings with major British companies and the ‘clear message’ being sent to the US.

13 Nov 2024 - 5:56PMvideocam

Banking & finance

Standard Chartered to focus on wealth business, sell units after upbeat earnings

Net profit for the June to September period handily beat analysts’ estimates of US$886 million.

30 Oct 2024 - 3:42PM

Banking & finance

Editorial | Shareholders will gain as HSBC begins major restructuring

Banking giant’s third-quarter profits beat expectations, and CEO Georges Elhedery’s plan to streamline operations is music to the ears of investors.

30 Oct 2024 - 5:06AM

HSBC’s restructuring bodes well for the bank’s investors. Photo: Shutterstock

Banking & finance

HSBC results beat forecasts; bank dismisses rumours about unit spin-offs

Net profit rose 9 per cent to US$6.13 billion in the quarter that ended on September 30, exceeding market forecasts.

29 Oct 2024 - 6:07PM

Pedestrians walk past at HSBC Tsim Sha Tsui Branch in Tsim Sha Tsui. Photo: Jelly Tse

Fintech

Hong Kong unveils rules for ‘responsible’ AI use at FinTech Week

Any institution that wants to use AI ‘must formulate a governance strategy to provide direction on how [the] systems should be implemented,’ the government says.

29 Oct 2024 - 10:06AM

Hong Kong property

Hey big spender! Hong Kong transacts 3 luxury homes in a week

Two big deals recorded in Mid-Levels, another one on the books in Happy Valley.

25 Oct 2024 - 7:00PM

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