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Hi, need to submit a 1250 words essay on the topic Company Profiles of HSBC.Download file to see previous pages... Historical Background HSBC was reported to have been founded by “Thomas Sutherland,
Hi, need to submit a 1250 words essay on the topic Company Profiles of HSBC.
Download file to see previous pages...Historical Background HSBC was reported to have been founded by “Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company” (HSBC Global Site, 2012, par. 2). Its establishment was disclosed to have been fuelled by the perceived need to finance increasingly expanding trade between Europe, China and India. As such, the first bank was noted to have been opened in 1865 in Hong Kong and in Shanghai, China one month after. In the UK, its official website disclosed that the roots of HSBC bank was traced from the establishment of Birmingham and Midland Bank which was founded by Charles Geach in Union Street in the city of Birmingham on the 22nd of August, 1826. Only in 1992 was it officially identified as part of the HSBC Group by joining as member. Historical facts revealed that in September of 1999, the Midland Bank was already renamed HSBC Bank to communicate to the public its corporate leadership as a global financial bank. Company Structure and Organization HSBC UK is governed and headed by its CEO, Brian Robertson. Three managing officers report directly to him under Personal Financial Services, Business and Commercial Segment, and Commercial Banking (The Official Board.com 2012 ). Main Products and Services The categories of HSBC’s products and services are initially classified into two broad categories: personal and business. Under personal products and services, there are four distinct offers: everyday banking. borrowing, savings and investing, and insurance. Under business products and services, HSBC provides professional advices regarding starting a business. and banking depending on stipulated capitalization ranging from turnover up to ?2m (business banking). turnover of ?2m to ?25m (commercial banking) and turnover in excess of ?25m (corporate and structured banking). Likewise, HSBC offers international banking services that range from maintaining international business accounts, insurance and protection, internet banking, importing and exporting and even global cash management, among others (HSBC UK 2012) Areas of Operations HSBC UK operates more than 1,500 branches across England, Wales, Scotland and Northern Ireland. As revealed, HSBC UK scope of operations “extends to the full range of our commercial, corporate, premier and private banking services - as well as to subsidiary brands like First Direct, M&.S Money and HFC Bank. The UK is also home to our global headquarters, 8 Canada Square. Located in the heart of Canary Wharf, 8CS is one of the country's tallest buildings, spanning 42 floors and employing more than 8,000 people across hundreds of different roles” (HSBC Bank plc, 2012, par. 2). Financial Structure The financial highlights sourced from HSBC’s financial interim reports for the period ended June 30, 2011 are summarized below, with comparative figures from June 30, 2010: Financial Highlights (?M) June 30, 2011 December 30, 2010 Net Interest Income 3,622 3,710 Profit for the Period 1,435 979 Total Assets 857,288 798,494 Total Liabilities 824,760 766,137 Total Equity 32,528 32,357 Source: HSBC Bank plc, Interim Report 2011 ` From the financial highlights, it could be deduced despite the apparent 2.
