HSBC is a British multinational bank and financial services company headquartered in London. It is one of the largest banks in the world by total assets and serves tens of millions of customers through a network spanning more than 60 countries and territories, concentrated in Asia, Europe, the Middle East, and the Americas. The bank offers retail banking, commercial banking, wealth management, and investment banking services.
The institution was founded in 1865 in Hong Kong and Shanghai — its name derives from The Hongkong and Shanghai Banking Corporation, the original entity established to finance trade between Europe and Asia. That trade-finance heritage remains central to HSBC's identity: the bank has long positioned itself as a bridge between Western capital markets and Asian economies, particularly mainland China.
HSBC's parent company is HSBC Holdings plc, incorporated in England and Wales. The group's shares trade on the Hong Kong Stock Exchange, the London Stock Exchange, the New York Stock Exchange, and other exchanges. Its primary listing was moved from London to Hong Kong in 2025, reflecting the geographic center of gravity of its business.
The bank's history includes several major acquisitions that expanded its global footprint, most notably the purchase of Midland Bank in the U.K. in 1992, which established HSBC as a major retail banking presence in Britain and provided the platform for the group's subsequent expansion into North America and beyond. HSBC acquired Household International, a U.S. consumer finance firm, in 2003 — a deal that later exposed the bank to significant losses during the 2008 financial crisis.
In recent years, HSBC has restructured repeatedly to concentrate resources on its most profitable markets, particularly Hong Kong and mainland China, while reducing its footprint in lower-return Western markets. It has also faced persistent pressure to integrate artificial intelligence across its operations, a shift that major global banks have pursued as a way to reduce costs.