HSBC Revenue: How Does HSBC Makes Money? | Trefis (2024)

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HSBC Revenue: How Does HSBC Makes Money? | Trefis? ›

HSBC's Business Model

Reported revenue of HSBC Holdings increased slightly globally between 2020 and 2023. In the year ending December 31st 2023, the bank saw revenues worldwide reach almost 66.1 billion U.S. dollars. Approximately half of all revenue for the bank came from the Asia region.

HSBC Group on Wednesday posted a 25 per cent increase in profit from India operations to $1.5 billion for the financial year ended December 2023. The bank, which follows the calendar year as its fiscal, had earned a profit of $1.2 billion in 2022, HSBC said in its annual report for 2023.

HSBC offers various investment options & solutions to help its customers meet their long-term financial needs & objectives. The bank's investment advisors provide personalized advice and guidance to help customers make informed investment decisions.

Our international network remains a key competitive advantage and we will continue to support cross-border banking flows between major trade corridors. We are aiming to reach mid single-digit lending growth in the medium to long term, while further diversifying our revenue streams and maintaining cost discipline.

The Hongkong & Shanghai Banking Corporation Ltd owns most of HSBC's Asian operating companies, primarily: HSBC Bank (Singapore) Ltd, Hang Seng Bank Ltd (which is 62.1% owned) and Hang Seng Bank (China) Ltd, HSBC Bank Malaysia Berhad, and HSBC Bank (China) Company Ltd, HSBC Bank Australia Ltd, HSBC Bank (Taiwan) Ltd, ...

HSBC

HSBC Bank / Parent organization

HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.953 trillion as of December 2021.

Wikipedia

HSBC long term debt for 2023 was $118.871B, a 18.35% increase from 2022. HSBC long term debt for 2022 was $100.439B, a 1.41% increase from 2021. HSBC long term debt for 2021 was $99.044B, a 15.67% decline from 2020.

JPMorgan Chase & Co. made more annual profit than any lender in the history of US banking. Its $9.3 billion of net income in the fourth quarter of 2023 means the biggest US bank made $49.6 billion for the year, up 32% from 2022 and topping a record $48.3 billion from 2021.

Delivering trusted banking services for 150 years

For over 150 years, HSBC has been where growth is, connecting customers to opportunities, enabling businesses to thrive and helping people see the bigger picture.

What was HSBC biggest scandal? ›

Key Takeaways. In 2012, U.S. federal regulators hit HSBC Holdings with a $1.9 billion fine, along with $665 million in civil penalties, for significant lapses in its compliance and anti-money laundering (AML) systems. HSBC laundered over $881 million for Mexico's Sinaloa and Colombia's Norte del Valle drug cartels.

Weaknesses of HSBC

It may result in slower response times and hinder agility. Regulatory Compliance: Being a global bank, HSBC is subject to stringent regulatory requirements in different jurisdictions. Ensuring compliance with diverse regulations poses challenges and increases the cost of operations.

HSBC competitors include BBVA, Santander, Citi, Bank of America and Lloyds Banking Group. HSBC ranks 2nd in CEO Score on Comparably vs its competitors.

HSBC (including First Direct)

The bank has also been criticised for having links to the Myanmar military. HSBC has long been one of the world's biggest financiers of fossil fuels. From 2016 to 2022, it funded fossil fuel companies to the tune of $144 billion (£114 billion).

We're bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share. Our purpose – Opening up a world of opportunity – explains why we exist.

Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. HSBC, one of the largest banking and financial services institutions in the world, serves millions of customers through its four Global Businesses.

In April 2022, Citizens Bank completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida. HSBC's 10 West Coast branches are expected to be sold to Cathay Bank.