Briefly outline the history of HSBC plc. How would you describe its business model?

Expert Solution

HSBC was founded in March 1865 and the full form of the HSBC is Honkong and shanghai banking corporation limited. started doing business in Hongkong for the purpose of helping with finance to start trading between the Europe and Asia. Today the strength of the depositors or service takers with the banks are 40000000 customers (40M) in more than 65 countries and territories and in past centuries the HSBC develped their reputation in the whole world and provided more opportunities to the customers and after reading their history we get to know that how they are good in capital strength and building relationships with customers. HSBC established a new holding company, HSBC Holdings plc in 1991 and also acquired Midland bank in 1992 and in the bank announced it's brand as HSBC the symbol of bank so they can get recognition from their customers.

HSBC is one among the three commercial banks which is authorised to issue banknotes for Hong Kong and the other two are the Bank of China and Standard Chartered Bank of the total notes in circulation value.

HSBC is one of the big issuer, its note shows 67.7% of those in issue. Hong Kong is rarely issuing notes in few countries and territories where commercial banks are still allowed to issue their own bank notes.

The Hongkong and Shanghai Banking Corporations develped a network in around 600 offices in 20 countries in Asia Pacific, and owning a number of HSBC banks in various countries and holding the shares in lenders capital in mainland ,China and HSBC firstly focused on urban areas and also have branches in the Dhaka, Bangladesh and also started it's ATM facility and large number of ATM's are planted in the Five star hotels and other places in all cities.

jeff jeffy answered 2 hours ago

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Briefly outline the history of HSBC plc. How would you describe its business model?

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