- HSBC Bank (Europe)
company_name = HSBC Bank plc
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,
Dyfrig John, CEO
num_employees = 85,000 (including its
Finance and insurance
homepage = [http://www.hsbc.co.uk/ www.hsbc.co.uk]
HSBC Bank plc is one of the major
clearing banks in the United Kingdomhaving 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 Squarein the Canary Wharfarea 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 Corporationacquired a 14.9 per cent equity interest in Midland Bankin 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 Europethat it needed to complement its existing business in Asiaand the Americas. Midland Bank was renamed HSBC Bank in 1999 as part of the adoption of the HSBC brand throughout the Group.
Under the HSBC brand the bank maintains a network of around 1500 branches throughout
England and Wales, with a much smaller presence in Scotlandand Northern Irelandwhere 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.
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
Morrisonssupermarket chain, they trade as "Your bank at Morrisons" and offer a range of financial services, including an exclusive credit cardand savings account.
Other UK operations
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 bankingas 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]
As one of the three major Rolling Stock Companies in the UK,
HSBC Railowns 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.
Household Internationalestablished 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.
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 SpencerMoney on a partnership basis in 2004 and the John Lewis PartnershipCard contract.
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.
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.
HSBC S.A. operates around 800 branches in
Francesince 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.
HSBC Trinkaus & Burkhardt AGwas 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.
HSBC Bank plc and a number of subsidiaries have operations in
insurance, reinsurance, securities servicesand a newly established consumer financebusiness. 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]
HSBC Bank Malta plcis 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.
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.
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
Midland Bank plc
HSBC Bank International
* [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]
Wikimedia Foundation. 2010.
Look at other dictionaries:
HSBC — Holdings plc Type Public limited company Traded as LSE: HS … Wikipedia
HSBC Holdings — HSBC Logo de HSBC Holdings PLC Création 1865 (Hong Kong) Fondateur(s) Thomas Sutherland … Wikipédia en Français
HSBC — Holdings plc Rechtsform Public limited company ISIN GB0005405286 … Deutsch Wikipedia
Bank of Slovenia — Banka Slovenije (Slovene) Headquarters Ljubljana Established 25 June 1991 President Marko Kranjec Central bank of Slovenia Website … Wikipedia
Bank of Cyprus — Public Company Ltd Τράπεζα Κύπρου Δημόσια Εταιρεία Λιμιτεδ Type Publicly traded limited company Traded as CSE: BOCY, Athex … Wikipedia
HSBC — Logo de HSBC Création 1865 (Hong Kong) Fondateurs Thomas Sutherland … Wikipédia en Français
HSBC (France) — Infobox Company company name = HSBC S.A. company company type = Subsidiary of HSBC Holdings plc company slogan = Votre banque, partout dans le monde foundation = 1894 location = Paris, France key people = Charles Henri Filippi, Chairman Peter… … Wikipedia
Bank of America — Not to be confused with First Bank of the United States, Second Bank of the United States, or Bank of United States. Bank of America Corporation Type Public Traded as … Wikipedia
HSBC Guyerzeller Bank — AG Rechtsform Aktiengesellschaft Gründung 1894 Sitz Zürich, Schweiz Leitung Heinrich Baumann (CEO) Peter Widmer (VR Prä … Deutsch Wikipedia
HSBC Guyerzeller Bank AG — Unternehmensform Aktiengesellschaft Gründung 1894 Unternehmenssitz Zürich, Schweiz Unternehmensleitung … Deutsch Wikipedia