HSBC

HSBC

HSBC

HSBC Holding (HSBC) is a banking and financial services organization which provides investment banking, commercial banking and wealth management services to its clients. The company primarily operates in Europe and Hong Kong. It is headquartered in London, England and employs about 312,000 people. The company recorded revenues of $70,070 million during the fiscal year ended December 2006, an increase of 13.6% over 2005. The net profit was $15,789 million in fiscal year 2006, an increase of 4.7% over 2005. (Matyszak, Philip 2007, 652-78)

At the end of 2006, HSBC HSBC Hongkong and Shanghai Banking Corporation. North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. (HSBC), one of the top ten financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. companies in the world, awarded a $300,000 financial education grant to Money Management International (MMI (Man Machine Interface. The company which developed the first Programmable Array Logic devices. MMI was bought by AMD. ), the nation's largest non-profit credit and debt counseling firm, and the parent company of Consumer Credit Counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. Services. This grant was designed to allow MMI to provide free budget counseling sessions to victims of hurricanes Katrina and Rita, and all families needing financial advice in the Gulf Coast region. (Matyszak, Philip 2007, 652-78)

HSBC Group

HSBCs international network comprises over 10,000 offices in 82 countries and territories. The group recorded revenues of $70,070 million in the fiscal year 2006, and generated most of its revenues from Europe and North America. HSBC also has substantial presence in Latin America, Hong Kong, and other countries in the Asia Pacific. Historically, HSBC has been maintaining a strong Tier 1 ratio. In 2006, the Tier 1 ratio of HSBC was 9.4%, significantly higher than the Tier 1 ratio of 8% maintained by the global banking industry. At the end of June 2007, HSBC had a Tier 1 ratio of 9.3%, higher that those recorded by its competitors RBS (7.4%) and Barclays (7.7%). HSBC is aiming to double the contribution of insurance from existing levels, to 20% of profit before tax. During the first half of 2007, the groups insurance operations contributed 11% to HSBCs profits. The group is currently focusing on cutting costs and on scaling down operations in the US, in order to maintain profitability. (Matyszak, Philip 2007, 652-78)

HSBC Finance Corporation (HSBC Finance) is a subsidiary of HSBC North America Holdings, a bank holding company of HSBC in America and Canada. Together with its subsidiaries, the company offers real estate secured loans, auto finance loans, credit card loans, private label credit card loans including retail sales contracts and personal non-credit card loans to ...