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HSBC Holdings(Worlds Local Bank)

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ANANT(100).

Introduction:

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HSBC Holdings plc is a global financial services corporation headquartered in

London, UK. As of 2010, it is both the world's largest banking and financial

services group and the world's 8th largest company according to a composite

measure by Forbes magazine. HSBC was founded(in 1865) as The Hongkong

and Shanghai Banking Corporation and Hong Kong served as the bank's

headquarters until 1992 when it moved to London as a condition of completing

the acquisition of Midland Bank.Total no. of employees is 302,000.

Founder of Hsbc is sir, Sir Thomas Sutherland.

Promoter of HSBC:

Michael Geoghegan is the present CEO of HSBC, he joined HSBC in 1973 and

was appointed the CEO in 2006.He was Born in Windsor, UK, and was educated

in the United Kingdom and Ireland. Geoghegan is paid an annual salary of

1,070,000. In June 2003 he was honoured with a CBE (Commander of the

British Empire) by Her Majesty The Queen in recognition of his contribution toBritish business interests in Brazil. He has got two sons.

Mr Geoghegan is Chairman of Young Enterprise UK which seeks to give students

business experience while still in full-time education. HSBC has supported Young

Enterprise for over 20 years as part of its commitment to financial education,

and has 1,500 employees who volunteer their time for the organisation in

schools across the UK.

HSBC Products:

Finance and insurance. Consumer Banking. Corporate Banking. Investment Banking. Investment Management. Global Wealth Management. Private Equity. Mortgages. Credit Cards.

Chronology of overseas expansion:

HSBC Holdings, which gave HSBC a substantial presence in the UK, was

completed in 1992. As part of the takeover conditions for the purchase of

Midland, HSBC was required to move its world headquarters from Hong Kong to

London in 1993.

Major acquisitions in South America started with the purchase of BancoBamerindus of Brazil for $1bn in March 1997 and the acquisition of Roberts SAde Inversiones of Argentina for $600m in May 1997.

In May 1999 HSBC embarked on a major acquisition in the United States withthe purchase of Republic National Bank of New York for $10.3bn.

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Expansion into Continental Europe took place in April 2000 with the acquisitionof Crdit Commercial de France, a large French bank for 6.6bn.In July 2001HSBC bought Demirbank, an insolvent Turkish bank. Then in August 2002 HSBCacquired Grupo Financiero Bital, SA de CV, Mexico's third largest retail bank for$1.1bn.The new headquarters of HSBC Holdings at 8 Canada Square, London

officially opened in April 2003.Then in September 2003 HSBC bought PolskiKredyt Bank SA of Poland for $7.8m.In June 2004 HSBC expanded into Chinabuying 19.9% of the Bank of Communications of Shanghai .In the UnitedKingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltdfor 763m in December 2004.Acquisitions in 2005 included Metris Inc, a UScredit card issuer for $1.6bn in August and 70.1% of Dar Es Salaam InvestmentBank of Iraq in October . In April 2006 HSBC bought the 90 branches inArgentina of Banca Nazionale del Lavoro for $155m.In December 2007 HSBCacquired The Chinese Bank in Taiwan.In May 2008 HSBC acquired IL&FSInvestment, an Indian retail broking firm.

Subsidiaries:

Latin America

HSBC Mexico SAHSBC Bank Brazil SA, Banco MultiploHSBC Bank Argentina SA.

Asia Pacific

The Hongkong and Shanghai Banking Corporation Ltd

Hang Seng Bank LtdHSBC Bank (China) Company LtdHSBC Bank Malaysia Berhad

Middle East

HSBC Bank Middle East LtdHSBC Bank Egypt SAEThe Saudi British Bank

North America

HSBC Bank USA IncHSBC Finance CorporationHSBC Bank Canada

Europe

HSBC Bank plcHSBC FranceHSBC Trinkaus und Burkhardt AGHSBC Private Bank (UK) Ltd

HSBC Bank Polska S.A.

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Financial details:( Year 2009)

HSBCs Revenue for 2009 was $103.74 billion which is less as compare to

previous year and the Operating income was $7.079 billion.

Profit for was$5.834 billion.Total assets of HSBC in the year 2009 were calculated at $2.364trillion.Total equity $128.299 billion.

HSBC increased its share of the mortgage market by only 3% in the first sixmonths of this year.