The Hongkong and Shanghai Banking Corporation

The Hongkong And Shanghai Banking Corporation

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The Hongkong and Shanghai Banking Corporation

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The Hongkong and Shanghai Banking Corporation Limited (), is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc. The company's business ranges from the traditional High Street roles of personal finance and commercial banking, to corporate and investment banking, private banking and global banking. It is the largest bank in Hong Kong with branches and offices throughout the Asia Pacific region including other countries around the world.

HSBC is one of the oldest banking groups in the modern world. The bank is known locally simply as "The Bank", "Hongkong Bank" and "Lion Bank".

History

Foundation

After the British established Hong Kong as a colony in the aftermath of the First Opium War, local merchants felt the need for a bank to finance the growing trade between China and Europe (with traded products including opium). They established the Hongkong and Shanghai Banking Corporation (traditional Chinese: 香港上海滙豐銀行有限公司) in Hong Kong (March 1865) and Shanghai (one month later).

The founder, a...
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