HSBC Holdings PLC Stock Price Today (HSBC)
2023.02.24 13:23
British multinational universal bank and financial services holding company HSBC Holdings plc With $2.953 trillion in assets as of December 2021, it is ahead of BNP Paribas as the largest bank in Europe. HSBC had $4.9 trillion in assets under administration (AUA) and $10.8 trillion in assets under custody (AUC) in 2021, respectively.
HSBC was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation as a new group holding company. Its current form can be traced back to a hong in British Hong Kong; Its initials are the source of its name. In 1865, the Hongkong and Shanghai Banking Corporation opened branches in Shanghai, and in 1866, it became a legal entity for the first time.
HSBC serves approximately 40 million customers from 64 nations and territories in Africa, Asia, Oceania, Europe, North America, and South America. It was ranked no in 2022. According to Forbes’ sales, profits, assets, and market value rankings of large companies, the company is ranked 38th worldwide.
There are three business groups at HSBC: Wealth and personal banking, global banking and markets, and commercial banking. The bank announced in 2020 that it would merge its Retail Banking & Wealth Management division with Global Private Banking to create Wealth & Personal Banking.
HSBC is a part of the Hang Seng Index and the FTSE 100 Index and has dual primary listings on the Hong Kong Stock Exchange and the London Stock Exchange. On the Bermuda Stock Exchange and the New York Stock Exchange, it has secondary listings.
HSBC has been in a lot of trouble, and the bank has been fined a lot of times for making large-scale tax avoidance schemes or laundering money (sometimes in connection with criminal organizations like the Sinaloa cartel).
