HSBC

3.4024896265608 (1928)
Posted by pompos 02/27/2009 @ 12:04

Tags : hsbc, banking, finance

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Tencent Shares Rise to Record on First-Quarter Profit - Bloomberg
By Mark Lee May 14 (Bloomberg) -- Tencent Holdings Ltd., operator of China's biggest Internet-chatting service, rose to a record in Hong Kong trading after the company reported first-quarter profit that beat analysts' estimates....
HSBC Still Cautious, Despite Good Results - BusinessWeek
By Nick Clark HSBC (HBC) cautioned it had seen little sign of an end to the recession yesterday as rising bad debts hit the bank's first-quarter profits and it warned loan impairments were likely to increase further this year....
Taiwan Stocks Face More Risks After Rally on Ties, HSBC Says - Bloomberg
By Chen Shiyin May 13 (Bloomberg) -- Taiwan's stocks now face more risks after optimism in the past two weeks over easing relations with China spurred a rally that boosted the market to Asia's second- best gain this year, HSBC Holdings Plc said....
HSBC sets size of 15-yr bond at 650 mln stg -IFR - Reuters
LONDON, May 12 (Reuters) - HSBC Holdings (HSBA.L) has set the size of a planned 15-year bond at 650 million pounds ($986 million), IFR reported on Tuesday. Guidance has been set gilts plus 215 basis points, at the tight end of an initial 215 to 220...
Hong Kong shares up 0.4 pct, driven by CCB rebound - Forbes
Losses in other segments of the market were also offset by gains in HSBC on optimism about the lender's prospects. 'The global economic outlook and corporate earnings have really been improving, and the market is more confident now about the outlook...
Rout In China Commodities Complex Led By Oversupply Concerns - Wall Street Journal
By Chuin-Wei Yap BEIJING (Dow Jones)--The commodities complex in China was in full retreat Thursday morning, as supply-related concerns piled on the selling pressure at key bourses. Benchmark copper futures at the Shanghai Futures Exchange opened 3.5%...
HSBC "very confident" can deliver 15-19 pct RoE - Reuters
LONDON, May 12 (Reuters) - HSBC Holdings (HSBA.L) is "very confident" it will be able to deliver returns on equity of between 15 percent and 19 percent, despite banks needing to hold more capital, its finance director said on Tuesday....
Madoff Cases Impose Travel Restrictions on Luxembourg Lawyers - Bloomberg
Kremer's firm, which represents UBS and HSBC Holdings Plc, is one of the busiest. “I haven't pleaded in court this frequently in a very long time, I basically live at the court,” Kremer, who turns 46 today and is a specialist in white-collar crime,...
Dollar hits session low vs yen after HSBC results - Reuters
LONDON, May 11 (Reuters) - The dollar fell to a session low versus the yen on Monday and erased earlier gains versus a basket of currencies after banking giant HSBC (HSBA.L: Quote, Profile, Research) reported its first quarter results....

HSBC Bank Malta

HSBC logo

HSBC Bank Malta plc is the largest bank in Malta and a subsidiary of HSBC. It is the former Mid-Med Bank (see below) and the second-oldest bank in Malta. HSBC's Malta headquarters are at 233 Republic Street, Valletta. It offers a comprehensive range of financial products and services via a network of around 60 branches and offices throughout Malta and Gozo.

HSBC Bank Malta is part of the European region within the HSBC Group and therefore reports to HSBC Bank plc. HSBC Malta has offices in Melbourne and Toronto to serve the very strong and influential Maltese communities in each country, along with an offshore banking operation in Malta itself.

HSBC Malta dates back to the commencement of operations in Malta by the Anglo-Egyptian Bank (est. 1864), which merged with the National Bank of South Africa and The Colonial Bank (est. 1836) to become Barclays Bank Dominion Colonial Overseas in 1925 after Barclays acquired The Colonial Bank when it acquired the London Provincial and South Western Bank in 1918. In 1954 the bank shortened its name to Barclays Bank D.C.O. and in 1971 became Barclays Bank International.

In 1975 the government of Malta nationalized Barclays Bank International's operations in Malta and renamed it Mid-Med Bank, exercising its option to purchase Barclays’ remaining shareholding in Mid-Med in 1979.

In 1991 the Maltese government sold 33% of Mid-Med Bank to the public and in 1993 Mid-Med listed on Malta’s stock exchange. Mid-Med acquired 25% of Lohombus Bank, which specializes in housing finance, in 1995 along with the Investment Finance Bank in Malta. Mid-Med gained a majority of Lohombus Bank in Malta when it acquired another 35% of the firm in 1996, the same year it established a representative office in London.

Midland Bank was the first foreign bank to be granted an unlimited banking license in Malta, where it opened a branch in September 1996. Then in 1999, Midland Bank acquired the government of Malta’s 67.1% direct holding in Mid-Med, as well its 2.7% indirect holdings. Part of the agreement was that for the time being the bank would continue to be listed in the Maltese stock market and that Midland would not make a formal offer for the remainder of the shares but could buy if other shareholders chose to sell. At the time, Mid-Med bank had 60 offices and branches, 1,800 staff and was the largest commercial bank in Malta.

When HSBC brought all its operations under a common name, Mid-Med became HSBC Malta Bank plc. HSBC absorbed Mid-Med’s representative offices in Dubai, Milan, and Luxembourg into the HSBC offices in their respective countries but established a "Malta Desk" in several of these countries. Lohombus Bank became HSBC Malta (Home Loans) Ltd.

In April 2006 HSBC announced that it would be opening a new call centre in Malta, with an investment of €7 million and the creation of 350 jobs. The centre will deal with calls from HSBC Bank plc's customers in the United Kingdom, and operate as a branch of that company, under the oversight of HSBC Malta management .

Consiglio, John A. 2006. A history of banking in Malta, 1506-2005. Valletta: Progress Press.

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HSBC Insurance

HSBC Insurance (Asia-Pacific) Holdings Limited (traditional Chinese: 滙豐保險集團(亞太)有限公司), operating as HSBC Insurance (滙豐保險), is an insurance company based in Hong Kong. It is part of the worldwide HSBC Group and is wholly owned by The Hongkong and Shanghai Banking Corporation Limited.

HSBC Insurance (Asia-Pacific) Holdings Limited is the parent company of four insurance underwriting companies, include HSBC Insurance (Asia) Limited, HSBC Life (International) Limited, HSBC Insurance (Singapore) Pte Limited and HSBC Amanah Takaful (Malaysia) Sdn Bhd (49% held).

Through its various underwriting companies, HSBC Insurance serves the needs of network international and local brokers and agents, direct customers, and its principal agent, The Hongkong and Shanghai Banking Corporation.

HSBC Insurance offers customers the security, confidence and convenience of doing business with one financial services organisation. It has offices in Hong Kong, Macau, Singapore and Malaysia. In mainland China, it has representative offices in Beijing, Shanghai and Guangzhou. HSBC Life also opened a representative office in Hanoi, Vietnam in January 2007 and began operating in Taiwan in September 2007. HSBC Insurance's total assets stood at HK$100 billion at the end of June 2007.

HSBC Insurance was originated by Swire Life Assurance Company Limited (established in 1974, later HSBC Life (International) Limited), Carlingford Insurance Company Limited (established in 1978, later HSBC Insurance (Asia) Limited) and Carlingford Medical Insurance Limited (established in 1982, later HSBC Medical Insurance Limited). These companies were known as Carlingford Insurance (嘉豐保險). In 1985, HSBC Group launches an aggressive strategy to operate its insurance business profitably in countries and territories in which the commercial bank has a strong presence. In 1993, Carlingford Insurance starts offering personal life insurance products to customers through the banking network.

HSBC Insurance (Asia-Pacific) Holdings Limited was established in 1995, it is the head office of HSBC's Asia-Pacific insurance business. In the same year, the group acquired Lombard Insurance. In 1996, the business name Carlingford Insurance is changed to HSBC Insurance.

Singapore-based Keppel Insurance was acquired by HSBC Insurance in 2003 and renamed HSBC Insurance (Singapore) Pte Limited.

HSBC Amanah Takaful (Malaysia) Sdn Bhd was incorporated in 2006, after receiving the approval in principle from Bank Negara Malaysia to form a joint venture takaful company in Malaysia. HSBC Amanah Takaful leverages on HSBC Group's international experience and expertise in Islamic finance in implementing innovative approaches and technologies in developing and offering viable products to Malaysian consumers.

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HSBC (France)

HSBC logo

HSBC S.A. was formed on 1st November 2005 when HSBC rebranded CCF S.A. (Crédit Commercial de France), together with its subsidiaries UBP, Banque de Picardie and Banque Hervet. HSBC had acquired CCF in 2000.

The former networks of CCF, Union de Banques à Paris, Banque Hervet, Banque de Picardie and Banque de Baecque Beau now trade as HSBC. This represents a 380 strong network of branches in France with a very strong presence in the Paris region.

Other group operations in France include a significant HSBC Private Bank presence, along with a major Corporate Institutional Banking and Markets operation. The Paris trading floor is the Group's second largest trading floor in Europe. Specific areas of particular expertise and responsibility are the trading of government bonds and euro interest rate derivatives, arranging of corporate cash calls, disintermediated and structured finance and project finance.

HSBC France had seven regional subsidiaries with 420 branches, but sold them to Banque Populaire in 2008. These regional subsidiaries were Société Marseillaise de Crédit, Banque de Savoie, Banque Chaix, Banque Marze, Banque Dupuy, Banque de Parseval, Banque Pelletier and Crédit Commercial du Sud Ouest.

When HSBC acquired CCF, CCF was operating with 650 branches and assets of €69 billion. In April 2000, HSBC Holdings plc announced its intention to acquire the bank and completed the deal in July. That month, HSBC Holdings plc listed on the Paris Stock Exchange for the first time. The acquisition enabled HSBC to establish itself in one of the main European markets and to build a strong platform in the euro zone. CCF continued to expand with the purchase of Banque Pelletier (2000) and Banque Hervet (2001). CCF won a bidding-war for Banque Hervet, which the French government was re-privatizing, when its bid of $480 million beat out bids from Paribas, Credit du Nord - Dexia, and insurer Groupama.

With the acquisition of CCF, HSBC acquired CCF's stake in Lombard Bank in Malta. At the time, HSBC already owned the largest bank in Malta. In 2002, HSBC sold its shares in Lombard Bank Malta to Swiss-based Banca Unione di Credito.

CCF also sold its 93.3 per cent stake in Crédit International d’Egypte (CIE), an Egyptian commercial bank which was listed on the Cairo Stock Exchange, to Crédit Agricole Indosuez and the El Mansour and El Maghraby groups. On completion, Crédit International d'Egypte became 75 per cent owned by Crédit Agricole Indosuez and 25 per cent by the El Mansour and El Maghraby groups. HSBC was already operating in Egypt through HSBC Bank Egypt.

In 2002, CCF acquired 11 branches outside Paris from Banque Worms/Deutsche Bank.

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Source : Wikipedia