HSBC was born from one simple idea – a local bank serving international needs.
HSBC is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China.
The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realised that there was considerable demand for local banking facilities in Hong Kong and on the China coast, and he helped to establish the bank which opened in Hong Kong in March 1865 and in Shanghai a month later.
Soon after its formation, the bank began opening branches to expand the services it could offer customers. From the outset trade finance was a strong feature of the local and international business of the bank, a strength that has been recognised throughout its history. By the end of the 19th century, the bank was the foremost financial institution in Asia.
In the 20th century there were challenges and change, from international conflicts to the Great Depression of the 1930s. By the end of the century, through growth, acquisitions and diversification, HSBC had transformed from an important regional bank into one of the world’s leading financial organisations.
HSBC created a new holding company, HSBC Holdings plc, in 1991, and made a successful bid to acquire full ownership of Midland Bank in 1992. As a result, HSBC became headquartered in London.
In November 1998, HSBC announced the adoption of a unified brand, using HSBC and the hexagon symbol everywhere it operated, with the aim of enhancing recognition of HSBC by customers, shareholders and staff throughout the world.
Experience has shaped the character of HSBC. The bank has weathered change in all forms – revolutions, economic crises, new technologies – and adapted to survive. This has enabled the bank to meet the challenges of the 21st century.
Further information about HSBC’s history is available on our corporate website. Please note this is English language only.
