See our Cookie Policy. The head office moved back to Hong Kong in 1946. 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 … In 2005, HSBC also opened its second branch in Hanoi and established a representative office in Can Tho. [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. For more information Click Here . Until the economic reforms of the late 1970s, its activities were mainly in inward remittances and export bills, however its activities now span a wider range. The bank built a succession of modern head offices on the site. 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. HSBC is known in Cantonese as “Wayfoong”, which means “focus of wealth” or “abundance of remittances.”. Swift codes. Decisive decade ahead for climate finance. HSBC Bangladesh is rated 'AAA' in the Long-term and ST-1 rating in the Short-term, which are the highest level of ratings for any bank or financial institution in Bangladesh.[17]. 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. The Hongkong and Shanghai Banking Corporation Limited Peter Wong Tung Shun is Deputy Chairman and Chief Executive of The Hongkong and Shanghai Banking Corporation Limited. [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]. When the war ended, the head office moved back to Hong Kong and the bank supported the city’s reconstruction, including lending money to restore public utilities, reopen the port, and restart the Star Ferry service. It was renamed "The Hongkong and Shanghai Banking Corporation Limited" in 1989. Branch Name. It opened its doors in December 1877. HSBC’s founder, Thomas Sutherland, was a Scotsman working in Hong Kong for a large shipping firm. At the heart of this industrialisation lay the bustling district of Mong Kok, where HSBC opened a branch in 1948. [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. Further information about HSBC’s history is available in The HSBC Group: Our Story (PDF, 3.49MB). [7] The bank initially leased its premises for HK$500 a month in 1864. The Hongkong & Shanghai Banking Corporation Ltd has 39 ACH Branch codes available in SG. [citation needed]. It is one of the very few banks in the country to offer day night banking. HSBC initially opened for business in Thailand in 1888, becoming the first commercial bank in the country. [27][28] During the period 1941–1943 the chief manager Sir Vandeleur Grayburn, and his successor David C. Edmondston, both died while interned by the Japanese. It has achieved leadership in Corporate Banking, Capital Markets and Credit Card issuance. He saw that better banking facilities would support Hong Kong’s commercial growth. HSBCHKHHGCC - SWIFT Code (BIC) - HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE in HONG KONG - HONG KONG. HSBC Bangladesh offers a comprehensive range of financial services such as commercial banking, consumer banking, payments and cash management, trade services, treasury, and custody and clearing. 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). No checking account services, ATM services or internet banking … Retrieved 2018-06-03, HSBC closing down in Thailand. The banking services provided from the location will be available until 10 December 2020, Thursday. [42], This article is about the Hong Kong bank. During the American regime, HSBC was called to advise on Philippine currency reform. [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]. and its intention to maintain only corporate banking business in Thailand. THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, … 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. The Hongkong and Shanghai Banking Corporation maintains a network of around 600 offices in 20 countries in Asia Pacific, as well as owning of a number of HSBC banks operating in various countries and holding the group's stakes in further lenders, particularly in mainland China. HSBC does not conduct ordinary retail banking in Japan, but conducts investment banking in Tokyo and Osaka. 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. Please note this is English language only. Reviews: 0 : Contact Page: Additional information: Write Review: Browse Review : Contact Information : The Hongkong and Shanghai Banking Corporation Ltd… Swift Code HSBCHKHHHKH is the unique bank identifier for HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, THE's branch located in … The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. It was designed by British architect Norman, Lord Foster, and was the most expensive building in the world based on usable floor area at the time it was built.[14]. For Group’s financial information please visit the investor relations section on our global corporate website. 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 In July 2007, HSBC became the first foreign bank to increase its stake in Techcombank to 15%. 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. In 1980, the Bank, now under the chairmanship of Michael Sandberg, acquired a 51% stake in Marine Midland Bank, of the United States of America, and continued its expansion with the establishment of Hongkong Bank of Canada (now HSBC Bank Canada) in 1981 and HongkongBank of Australia Limited (now HSBC Bank Australia Limited) in 1986. On 6 August 2004, HSBC announced that it would pay US$1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. HSBC's main branch office in Thailand is situated in Bangkok on Rama IV Road opposite Lumpini Park. On 1 April 2007, the mainland China offices of The Hongkong and Shanghai Banking Corporation transferred to its subsidiary HSBC Bank (China), and it started operations on 2 April. 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 HSBC Bahamas office is a limited service branch offering interest-bearing accounts in all major currencies operated by wire transfers. The bank faced its greatest test during the Second World War. 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. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in … Investvine.com 2012-02-26. The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. In August 1995, HSBC opened a full-service branch in Ho Chi Minh City. 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. During his twenty-six-year tenure, the Bank became a leader in Asia. Under Saunders' tenure the bank continued to expand. [10] The bank handled the first public loan in China in 1874, thereafter issuing most public loans. The Hongkong and Shanghai Banking Corporation opened its first Indonesian office in Jakarta in 1884. After raising a capital stock of HK$5 million, the bank commenced operations on 3 March 1865. The bank survived because of large reserves and prudent forward planning, for example deciding to move the head office to London. "The Hongkong and Shanghai Bank" was established in British Hong Kong in 1865 and was incorporated as "The Hongkong and Shanghai Banking Corporation" in 1866, and has been based in Hong Kong (although now as a subsidiary) ever since. 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. Shen, the managing director of Maysun Trading Co. and the former head of the Central Trust of China, who became the first ethnic Chinese to be appointed to the position of Chief Manager of the bank. 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. 1965 saw the bank purchase a controlling interest in Hang Seng Bank of Hong Kong, and 1972 the formation of a merchant banking arm, Wardley Limited. The Hongkong and Shanghai Banking Corporation Limited established its first branch in Colombo Sri Lanka on 1 July 1892, just 27 years after it began operating in Hong Kong and Shanghai. THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (UEN ID S16FC0010A) is a corporate entity registered with Accounting and Corporate Regulatory Authority. HSBC has made significant contributions to the establishment of solid foundations for Thailand's financial and banking sectors. It has established itself as one of the largest and most profitable banks operating in the country. Vaccine breakthroughs should usher in a brighter dawn for global economic prospects for 2021, says HSBC’s Janet Henry. After the British established Hong Kong as a colony in the aftermath of the First Opium War, merchants from other parts of the British Empire, now in Hong Kong, felt the need for a bank to finance the growing trade, through Hong Kong and sometimes also through Shanghai, between China and India, the rest of the British Empire and Europe, of goods, produces and merchandises of all kinds, but especially opium, cultivated in or transited (re-exported) through the Raj,[5][6] and to that end, they organised amongst themselves and formed The Hongkong and Shanghai Bank in Hong Kong (March 1865), and in Shanghai one month later. The bank also has a good number of ATM booths in the cities present, it also has booths in most five star hotels. The Communist Party of China took over Shanghai in early 1949, towards the end of the civil war. The bank also offers offshore banking in the Export Processing Zones, this is only limited to investors in the EPZs. 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. For example, in 1889 HSBC issued the first banknotes in Thailand. Hang Seng Bank Limited is headquartered in Hong Kong and reported total assets of HKD1.66 trillion at end-June 2019. 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. HSBC acquired a 62.14%, controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. 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