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HSBC Bank full form is Hongkong and Shanghai Banking Corporation. It is one of the leading financial institutions in the world. To know about this bank, including its history in India, the services it provides and its subsidiaries, check out this blog post!
HSBC Bank full form is Hongkong and Shanghai Banking Corporation. It was founded in 1865 in Hong Kong, a special administrative region of China. HSBC Bank founder was Sir Thomas Sutherland, a Scottish businessman. He realized that there is a need for better local banking to finance growing trade in Asia. So, he founded this bank.
HSBC is one of the world’s largest banking and financial service organizations. It serves more than 40 million customers, ranging from individual savers and investors to some of the biggest companies and governments in the world.
The global headquarters of HSBC is located in London, United Kingdom. It is a publicly traded company and is listed on London, Hong Kong, New York and Bermuda stock exchanges.
Mr. Georges Elhedery is HSBC Group CEO. He took over as the CEO in September 2024, succeeding Noel Quinn. He focuses on the global operations of HSBC. Mr. Hitendra Dave is HSBC India CEO and focuses on India’s growth.
HSBC has a strong presence in India. Its origins in the country trace back to 1853 when the Mercantile Bank of India was established in Bombay, now known as Mumbai. HSBC in India has grown in a steady manner since then. Now, it offers products and services to corporate and commercial banking clients and retail customers.
By 1855, the Mercantile Bank had established offices in London, Madras (now Chennai), Colombo, Kandy, Calcutta (now Kolkata), Singapore, Hong Kong, Canton (now Guangzhou) and Shanghai. In 1950, it moved into its new head office building at Flora Fountain in Mumbai. In 1959, the Mercantile Bank was acquired by The Hongkong and Shanghai Banking Corporation Limited (HSBC).
Founded in 1865 to serve merchants along the China coast and to finance the expanding trade between China, Europe and the United States, HSBC has been an international bank since its inception. In India, HSBC has played quite a significant role in the development of the banking industry, including introducing the country’s first ATM in 1987.
The services provided by HSBC Bank include the following :-
Deposit and Withdrawal of Cash
Credit and Debit cards
Different Types of Loans
Fixed Deposits
International Account
Demat Accounts
Recurring Deposits
Foreign Exchange
Net Banking
Risk Management Services
Wealth Management Services
Here are the top subsidiaries of HSBC Bank in India :-
The Hongkong and Shanghai Banking Corporation Limited (Main Arm)
HSBC Asset Management (India) Private Limited.
HSBC Trustees (India) Private Limited.
HSBC Global Shared Services (India) Pvt Ltd.
HSBC Software Development (India) Pvt Ltd.
HSBC Professional Services (India) Private Limited.
HSBC InvestDirect (India) Pvt Ltd.
HSBC stands for Hongkong and Shanghai Banking Corporation. It was established in 1865 by Scottish Businessman Thomas Sutherland. In today’s time, it is one of the major financial services organizations in the world. The global headquarters of HSBC are located in London, United Kingdom. The Indian headquarters of HSBC are located in Mumbai, Maharashtra. Its CEO in India is Mr. Hitendra Dave.
Q1. What is HSBC full form in banking?
A. HSBC full form is Hongkong and Shanghai Banking Corporation. It is one of the top banking and financial services organizations in the world since its establishment. It has a strong presence across the globe, including in India.
Q2. When was HSBC founded?
A. It was founded on 3 March 1865 in Hong Kong.
Q3. Who is HSBC founder?
A. It was founded by Scottish banker Thomas Sutherland.
Q4. Where is HSBC global headquarters?
A. HSBC's global headquarters are in London, England.
Q5. When did HSBC open its first branch in India?
A. HSBC opened its first branch in India in 1867, in Calcutta, West Bengal.
Q6. Which Bank introduced the first ATM in India?
A. HSBC introduced the first ATM in India. This ATM was introduced in 1987 and was installed in Bombay, now known as Mumbai.
Q7. Who is HSBC India CEO?
A. Mr. Hitendra Dave is HSBC India CEO.
Q8. What is HSBC premier?
A. It is a premium account of HSBC that provides customers with banking services, wealth services, health and travel benefits and rewards.
Q9. Does HSBC operate in India?
A. Yes, HSBC does operate in India. It is one of the leading banking institutions in the country.
Q10. Does HSBC Bank open on Saturday?
A. It remains open on 1st and 3rd Saturday. However, it remains closed on the 2nd and 4th Saturday. However, some branches of the Bank may follow different rules or amend their rules. So, it is best to confirm with them over a phone call or mail prior to visiting their branch to save your time and energy.
Q11. What are HSBC subsidiaries in India?
A. The subsidiaries of HSBC in India include the Hongkong and Shanghai Banking Corporation Limited (Main Arm), HSBC Asset Management (India) Private Limited., HSBC Trustees (India) Private Limited., HSBC Global Shared Services (India) Pvt Ltd., HSBC Software Development (India) Pvt Ltd., HSBC Professional Services (India) Private Limited and HSBC InvestDirect (India) Pvt Ltd.
Q12. What are HSBC subsidiaries in Europe?
A. HSBC subsidiaries in Europe include HSBC Bank PLC, HSBC UK Bank PLC, HSBC Life UK, HSBC Trinkaus & Burkhardt and HSBC Bank Malta PLC.
Q13. What are HSBC subsidiaries in Asia?
A. In Asia, HSBC has many subsidiaries including Hang Seng Bank Limited, HSBC Bank Australia Ltd, HSBC Bank (China) Company Ltd, HSBC Bank Malaysia Berhad, HSBC Bank (Singapore) Limited, HSBC Bank (Taiwan) Ltd, HSBC Bank (Vietnam) Ltd, HSBC Bank Middle East Limited, PT Bank HSBC Indonesia, Canara HSBC Life Insurance and Bank of Communications Co., Ltd.
Q14. Who is the CEO of the HSBC Group?
A. HSBC Group CEO is Mr. Georges Elhedery since September 2024. He joined the company in the year of 2005. Prior to his appointment as the Group’s CEO, he served as its CFO.
Disclaimer: While we have made every effort to provide accurate and up-to-date information in this article, we do not guarantee the completeness or 100% accuracy of the information to our readers. This content is for informational purposes only and should not be treated as business, legal or financial advice. Registrationwala will not be responsible for any losses or debts incurred as a result of information provided in this article.
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