In this post you will find answers to all such questions, what is HSBC Full Form, what is HSBC Full Form, what is HSBC, full name and meaning of HSBC.
HSBC Full Form
The HSBC full form (full form of HSBC) is “Hong Kong and Shanghai Banking Corporation“. It is called Hindi Hong Kong and Shanghai Banking Corporation.
It is the largest banking and financial services organization in the world. Its global business includes Retail Banking and Wealth Management, Global Banking and Markets, Commercial Banking, and Global Private Banking.
HSBC operates in 71 countries in Europe, Asia, Middle East and Africa, Latin America and North America. It is headquartered in London, United Kingdom. It is listed on the Paris, New York, Bermuda and Hong Kong stock exchanges.
HSBC Limited offers personal and business banking products in India and abroad. Personal Banking Services include Savings Account, Fixed Deposits, SmartMoney Accounts, Demat Accounts, Debit Card etc.
It provides wealth management, online and self-service banking major products etc. for Non Resident individuals. It includes Credit and Lending, Exports, Investments and Risk Management in Business Banking Services. It also provides Corporate and Institutional Banking Services in India.
Members of HSBC Group in India?
- HSBC Software Development (India) Private Limited
- HSBC InvestDirect (India) Limited
- HSBC InvestDirect Securities (India) Private Limited
- HSBC InvestDirect Financial Services (India) Limited
- HSBC InvestDirect Sales & Marketing (India) Limited
- HSBC Agency (India) Private Limited
- HSBC Global Shared Services (India) Private Limited
- HSBC Securities and Capital Markets (India) Private Limited
- HSBC Professional Services (India) Private Limited
- HSBC Electronic Data Processing India Private Limited
- HSBC Asset Management (India) Private Limited
- Hongkong and Shanghai Banking Corporation Limited
History of HSBC
Thomas Sutherland felt the need to open a bank to meet the demand for local banking facilities in Hong Kong. He therefore helped to establish Hong Kong and Shanghai Bank on 3 March 1865 in Hong Kong.
Hong Kong and Shanghai Bank was incorporated in 1866 as Hong Kong and Shanghai Banking Corporation. By 1875, HSBC Europe was operating in seven countries in Asia and North America.
By 1900, the bank had established branches in 16 countries around the world under the guidance of Chief Manager Thomas Jackson and primarily provided Bullion, Exchange and Merchant Banking Services. In 1910, it provided loans to national governments for infrastructure projects.
By 1941 World War II had severely affected the development and operation of this bank. During this period only London, US and Indian branches were operational in it.
After the war ended in 1950, HSBC helped rebuild the Hong Kong economy by helping to grow its business. In 1972, it established a merchant banking branch to increase the range of its services.
In the 1980s, HSBC acquired the US-based Marine Midland Bank. In 1992, HSBC established a new holding company, HSBC Holdings Plc, which acquired Midland Bank in July 1992. With this acquisition, the headquarters of HSBC was shifted to London.
In 1998, HSBC decided to adopt an Unified Brand which included HSBC and Hexagon Symbol. Then in the 21st century, HSBC decided to expand its business in China through a strategic partnership.
In this post, I tried covering everything related to HSBC including HSBC full form. Now it’s your turn. Give this nice post a favor by sharing it with your friends.