HSBC Bank (Europe)


HSBC Bank (Europe)

Infobox Company
company_name = HSBC Bank plc
company_
company_type = Subsidiary of HSBC Holdings plc
slogan = The world's local bank
foundation = 1836
location = flagicon|UK London, England, UK
key_people = Stephen Green, Chairman
Dyfrig John, CEO
num_employees = 85,000 (including its subsidiaries)
industry = Finance and insurance
products = Financial services
homepage = [http://www.hsbc.co.uk/ www.hsbc.co.uk]
revenue =

HSBC Bank plc is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. Across all brands the bank operates some 1800 sites in the UK.

The UK headquarters of HSBC are at HSBC Tower, 8 Canada Square in the Canary Wharf area of East London. This building is also home to HSBC Group's headquarters, and houses some 8,000 staff over 45 levels.

HSBC Bank Plc is the only one of Britain's big five banks to hold more deposits than loans (loan:deposit ratio of 90%) [http://www.bloomberg.com/apps/news?pid=20601213&sid=a8A3ZOyf8NJ0&refer=home Running to HSBC Makes Shares European Bank Winner, Bloomberg.com] . This has led to the bank being seen as a less risky proposition than the other banks by investors and customers, as it is able to fully fund its own operations. It has also contributed to the company's share price maintaining value throughout the credit crunch, unlike other banks in the market.

Midland joins the HSBC Group

The Hongkong and Shanghai Banking Corporation acquired a 14.9 per cent equity interest in Midland Bank in 1987, and a strong working relationship developed. In 1992, HSBC Holdings plc acquired full ownership of Midland Bank. It was one of the largest acquisitions in banking history, giving HSBC the major foothold in Europe that it needed to complement its existing business in Asia and the Americas. Midland Bank was renamed HSBC Bank in 1999 as part of the adoption of the HSBC brand throughout the Group.

UK banking

Under the HSBC brand the bank maintains a network of around 1500 branches throughout England and Wales, with a much smaller presence in Scotland and Northern Ireland where local banks tend to dominate. Branches are undergoing a rolling program of refurbishment to improve the 'retail experience' as the bank puts it, including the rebranding of branches as 'stores' and the inclusion of more open areas for staff to meet customers, as well as HSBC Live, a radio station specifically produced for the bank by media company Immedia in Newbury, Berkshire.

In January 2005 the bank was the first to hold a "Sale" along the lines of the January sales which have long been a feature of the UK high street, in which many of the wide range of financial services offer had their rates reduced/increased or prices cut. Following this, in January 2006, HSBC held another sale, this time focusing on 50% discounts/rate increases on a range of their financial products, and during January 2007, HSBC held the UK's first Green Sale in which HSBC donated £2 GBP to world wide conservation projects for every Sale product opened by customers.

April 2008 saw HSBC launch their biggest ever mortgage campaign. This was seen as a bold move by the media and HSBC staff due to their previous non-plus attitude building on their 3% market share of the mortgage market. While rival banks and building societies felt the effects of the 'credit crunch' HSBC, bolstered by a favourable savings to lending ratio, unveiled a mortgage rate matching service that would offer non-HSBC mortgage customers the ability to match their current mortgage rate in a bespoke mortgage package. HSBC predicted that 53% of customers would pay a fee of less than £599 while 72% of customers would pay less than £999 subsequently meaning that 28% of new mortgage customers would be quoted a fee in excess of £1000 with early stories suggesting that it could be as much as £5000.

HSBC Amanah

In mid-2003 HSBC became the first UK High Street lender to offer homebuying products in compliance with Sharia (Islamic) law, which prohibits the charging or payment of interest. The range now includes a bank account and home insurance policy (Takaful) as well as home finance.

HSBC at Morrisons

HSBC operates a number of outlets in supermarkets owned by the Morrisons supermarket chain, they trade as "Your bank at Morrisons" and offer a range of financial services, including an exclusive credit card and savings account.

Other UK operations

first direct

In 1989 the then Midland Bank launched first direct, the pioneer of the revolutionary concept of telephone banking, with a person-to-person service available 24 hours a day, 365 days a year. It now offers internet banking as well and serves more than one million customers. Over its first 15 years, first direct established a position as the United Kingdom's most recommended bank. [First Response Survey. December 2004. Research undertaken agency among 1,577 current account holders across the UK, between 30 November 2004 and 8 December 2004]

HSBC Rail

As one of the three major Rolling Stock Companies in the UK, HSBC Rail owns around a third of passenger railway locomotives, multiple units and coaching stock running on Network Rail's system, which it leases to various train operators. HSBC Rail became a member of the HSBC Group in March 1997.

HFC Bank

Household International established HFC Bank as consumer finance business in the UK in 1973, it went on to became one of the largest consumer finance companies in the UK before Household was acquired by HSBC in 2003. HFC Bank provides retail credit to many leading national retailers and is the largest point of sale loan provider in the UK. The business focuses on retail finance, both through branches and direct channels, as well as co-branded and loyalty credit cards. Some of the key brands are the recently relaunched Beneficial Finance (with around 160 branches), marbles and The GM Card. Today HFC Bank has around 3.5 million customers.

Other brands

As a result of the Household acquisition, the UK group gained expertise allowing it to enter joint ventures and contracts with more high street names, such as taking over Marks and Spencer Money on a partnership basis in 2004 and the John Lewis Partnership Card contract.

European operations

Through various acquisition deals, including some inside the HSBC Group for reorganisational purposes HSBC Bank plc has become the regional headquarters for Europe. This means the lines of authority from across Europe for such entities as HSBC S.A., HSBC Trinkaus, HSBC Bank Malta plc, HSBC Turkey, HSBC Bank International and HSBC Private Bank in Europe lead to HSBC Bank plc.

Czech Republic

HSBC Bank plc is undertaking a significant expansion in Eastern and Central Europe, with the Czech Republic the first country to offer Personal Financial Services. The operations are focused on HSBC Premier.

France

HSBC S.A. operates around 800 branches in France since the takeover of Credit Commercial de France, primarily operating under the HSBC brand. HSBC France is now the HSBC Group’s lead bank in the Eurozone, focusing on certain capital market products for a global audience, and high net worth and international business in France.

Germany

HSBC Trinkaus & Burkhardt AG was founded in 1785 and is one of the longest-established members of the HSBC Group. It has operations in private, commercial and investment banking and asset management.

Ireland

HSBC Bank plc and a number of subsidiaries have operations in insurance, reinsurance, securities services and a newly established consumer finance business. The fund management business had assets in excess of US$20bn as of 2006. [http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=THE%20MARKET-qqqs=themarket-qqqid=15944-qqqx=1.asp The Post.ie, HSBC Ireland]

Malta

HSBC Bank Malta plc is the largest banks in Malta. It is a listed company but its majority shareholder is the HSBC Group. Formerly the Mid-Med Bank, HSBC Bank Malta is the second-longest established bank in Malta.

witzerland

HSBC Private Bank (Suisse) S.A. and HSBC Guyerzeller Bank AG are the Swiss operating subsidiaries of the group's Private Banking business, with 12 locations in the country. Much of the private banking business takes a lead from work done in Switzerland, with a total of 74 locations around the world operating solely for private banking business.

Turkey

HSBC Bank A.S. is now the fifth largest private bank in Turkey, having expanded through internal financing and via acquisition since entering the market in 1990. The bank has a network of around 190 branches, offering products and services to corporate, commercial and personal customers, both under the HSBC brand as well as the "Advantage" brand.

Postal Address (Headquarters)

HSBC Bank plc,8 Canada Square,LONDON,E14 5HQ

ee also

*HSBC S.A.
*Midland Bank plc
*First Direct
*HSBC Bank International

References

Sources

*http://www.hsbc.com/
*http://www.hsbc.com/hsbc/contact_us

External links

* [http://www.hsbc.co.uk/ HSBC Bank UK]
* [http://www.hsbc.fr/ HSBC France]
* [http://www.hsbc.com/ HSBC Group]
* [http://www.firstdirect.com/ First Direct]
* [http://www.hsbcprivatebank.com HSBC Private Bank]
* [http://www.offshore.hsbc.com/ HSBC Bank International]

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