FAQs
HSBC Bank (China) Company Limited (Chinese: 汇丰银行(中国)有限公司; often abbreviated as 汇丰中国) was one of the first foreign banks to incorporate locally in mainland China in 2007. It is part of the worldwide HSBC Group and is wholly owned by Hong Kong-based HSBC (Hong Kong).
Is HSBC still owned by China? ›
HSBC Bank (China) Company Limited (Chinese: 汇丰银行(中国)有限公司; often abbreviated as 汇丰中国) was one of the first foreign banks to incorporate locally in mainland China in 2007. It is part of the worldwide HSBC Group and is wholly owned by Hong Kong-based HSBC (Hong Kong).
Is HSBC exposed to China? ›
The bank's exposure to China knocks its bottom line and triggers investor worries about the outlook as shares fall sharply. Higher interest rates helped HSBC achieve record annual profits last year but the sum was dented by the economic slowdown in its biggest growth market.
Can you use HSBC in China? ›
HSBC China Debit Cards have the functions of cash withdrawal, fund transfer and Point of Sale spending. They can be used to conduct banking transactions at HSBC China ATMs, domestic and overseas UnionPay ATMs and Point of Sale Terminals and HSBC Group ATMs outside Mainland China.
Is HSBC an international bank? ›
Bank internationally with HSBC
From seamless digital banking and special offers abroad, to wealth management, tax and relocation guidance, we move with you – whatever your global banking needs are.
Is HSBC moving out of USA? ›
HSBC Holdings plc ('HSBC') today announces that it will exit its US domestic mass market retail banking business through several transactions, pending regulatory approval. They include: Exiting 90 branches out of a current branch network of 148 branches.
How safe is HSBC? ›
A new list of the top 50 safest banks in the world features just three British names - HSBC, Nationwide Building Society and Barclays.
Is HSBC in trouble? ›
However, HSBC was rocked by fresh trouble at its Chinese operation at the end of 2023. Fourth-quarter profits actually slumped to $200m from $4.6bn a year earlier, as the bank swallowed a $3bn charge related to its stake in China's Bank of Communications.
Who will take over HSBC USA? ›
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.
Why did HSBC crash? ›
HSBC shares suffered their biggest one-day drop in nearly four years, after the bank recorded an 80% fall in profits linked to a writedown in the value of its stake in a Chinese bank. Pre-tax profits fell to $1bn (£793m) in the final three months of 2023, down from $5bn a year earlier.
In mainland China, cardholders can withdraw cash only in RMB at CUP and HSBC China ATMs. The cumulative daily upper limit for cash withdrawals is RMB20,000.
What is HSBC called in China? ›
The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), commonly known as HSBC and formerly known as HongkongBank (Chinese: 滙豐; Cantonese Yale: Wuihfūng; styled Wayfoong by the bank), is the Hong Kong-based Asia-Pacific subsidiary of the HSBC banking group, for which it was the parent entity ...
Is HSBC a British or Chinese bank? ›
HSBC Holdings plc (Chinese: 滙豐; acronym from its founding member The Hongkong and Shanghai Banking Corporation) 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.
Is HSBC the best international bank? ›
Capital One 360: Best on foreign transaction fees. HSBC Bank: Best for expats with high balances. Citibank: Best for wiring money. Revolut: Best for nonbank multicurrency account.
Can I open an HSBC international account? ›
You can currently open an HSBC bank account overseas in over 30 countries and territories.
Can I use my HSBC account internationally? ›
You can rely on HSBC wherever you travel. While traveling internationally, you will have the peace of mind of knowing that the HSBC Group's ATMs and branch locations offer personal financial services in many countries. Emergency financial support is also available worldwide.
Who owns HSBC now? ›
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.
WikipediaHSBC Holdings plc (Chinese: 滙豐; acronym from its founding member The Hongkong and Shanghai Banking Corporation) 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.
Who took over HSBC in us? ›
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.
Which country owns HSBC? ›
The HSBC Group is a British banking group, that is the second largest in the world. It was founded in 1865, Hong Kong, by the Scottish banker, Thomas Sutherland.
