HSBC Full Form - Hong Kong and Shanghai Banking Corporation

What is the full form of HSBC?

The full form of HSBC is Hong Kong and Shanghai Banking Corporation.

It is a British multinational company that is one of the largest banking and financial service organizations in the world. It operates in over 70 countries across Europe, America, Asia, the Middle East and Africa serving more than 40 million customers worldwide.

The headquarter of HSBC is located in London, United Kingdom and currently in January 2022, its CEO is Noel Quinn. The Global HSBC sector covers retail banking, fund management, investment banking, private and commercial finance, corporate finance and markets.

In India, HSBC offers financial services to both institutes and corporate.

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HSBC History

Here is a brief history of HSBC:

• 1865: Hong Kong and Shanghai Bank was established in Hong Kong by Thomas Sutherland on 3rd March
• 1866: Hong Kong and Shanghai Bank renamed as Hong Kong and Shanghai Banking Corporation
• 1900: Bank expanded to 16 countries with exchange and merchant banking services
• 1910: Started providing financial loans to national governments
• 1950: HSBC played an important role to strengthen the economy of Hong Kong
• 1980: Marine Midland Bank is bought by HSBC
• 1992: Bank's headquarter shifted to London

In recent times, HSBC grew its business and branched in China and has won many awards in the world for being one of the best banks.

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HSBC Services

HSBC offered a number of services and products to both individuals and corporate.

Here are some of the essential services provided by HSBC:

• Cash Deposit and Withdrawal
• Credit and Debit cards
• Loans
• Fixed Deposits
• International account
• Demat Accounts
• Recurring deposits
• Foreign Exchange
• Online Banking
• Risk management
• Wealth Management

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HSBC Subsidiaries

HSBC has a very long list of subsidiaries. Here is a list of some of the top subsidiaries of HSBC in India:

• The Hongkong and Shanghai Banking Corporation Limited
• HSBC Electronic Data Processing India Private Limited
• HSBC Software Development (India) Private Limited
• HSBC InvestDirect (India) Limited
• HSBC InvestDirect Securities (India) Private Limited
• HSBC Agency (India) Private Limited
• HSBC Asset Management (India) Private Limited
• HSBC Global Shared Services (India) Private Limited