HSBC in Hong Kong

Our services

Established in 1865 to finance the growing trade between Asia and Europe, HSBC is today the biggest bank in Hong Kong. HSBC is known in Chinese as “Wayfoong”, which means “focus of wealth” or “abundance of remittances”.

As the Bank of Hong Kong, we thrive alongside the city’s position as an international financial centre. We are a key part of the financial infrastructure, issuing more than half of the Hong Kong dollar banknotes and providing US dollar payment clearing. We are a force for social good through our philanthropic The Hongkong Bank Foundation, our employee volunteering, inclusive banking services and more.

We are differentiated by our ability to offer a comprehensive range of banking services under one roof. With a strong global presence in 60 countries and territories, we are the bank of choice for clients with international needs. Whether it is individual customers seeking to manage their wealth, multinationals aiming to grow in the region, or Chinese companies looking to expand worldwide, we are here to connect them to opportunities and help them to achieve their ambitions, in this international melting pot and beyond.

Wealth and Personal Banking (WPB)

We help millions of our customers look after their day-to-day finances and manage, protect and grow their wealth. We serve around 40 million customers globally, with over 5 million retail customers in Hong Kong.

We offer a full suite of products and services across transactional banking, lending, wealth, insurance, asset management and more to help our customers reach their goals and aspirations. And if customers are living, studying or investing abroad, our international banking services help them feel at home wherever they are.

Commercial Banking (CMB)

We partner with businesses around the world – supporting every stage of their growth, their international ambitions and their sustainability transitions. We operate in more than 50 markets, serving 1.2 million business customers – from small and medium sized enterprises to large multinational corporates, from seasoned family businesses to the innovative startups that are shaping the future.

We deliver value to our clients through our international network and our full suite of HSBC products, including our leadership positions in trade finance, payments, cash management and foreign exchange.

Global Banking & Markets (GBM)

We open up opportunities for our customers globally by providing market-leading products, advisory, finance and access to international capital markets. Our customers are the largest multinational corporates, asset owners and investors, and public sector entities around the world. We also enable CMB and WPB clients with our markets and investment banking expertise.

Our headquarters

1 Queen’s Road Central
Central
Hong Kong

Our history in Hong Kong

HSBC’s founder, Thomas Sutherland, was a Scotsman working in Hong Kong for a large shipping firm. He saw that better banking facilities would support Hong Kong’s commercial growth. Sutherland’s vision was for a new bank, owned and managed locally, which would support international trade.

On 3 March 1865, HSBC opened for business at 1 Queen’s Road, Central. The bank built a succession of modern head offices on the site. The third generation head office, completed in 1935, was the first air-conditioned building in Hong Kong.

Hong Kong’s economy was dominated by shipping and merchant trading. To stimulate and accelerate this trade, HSBC issued banknotes in Hong Kong and mainland China, which were trusted by local merchants as a stable currency. HSBC quickly became Hong Kong’s principal note issuer and remains so today.

The bank faced its greatest test during the Second World War. Most of its Asia network closed and many staff were interned. The bank survived because of large reserves and prudent forward planning, for example deciding to move the head office to London. When the war ended, the head office moved back to Hong Kong and the bank supported the city’s reconstruction, including lending money to restore public utilities, reopen the port, and restart the Star Ferry service.

HSBC aided Hong Kong’s reinvention as a postwar manufacturing centre, granting loans to build cotton mills and textile factories. At the heart of this industrialisation lay the bustling district of Mong Kok, where HSBC opened a branch in 1948. To better serve Hong Kong’s growing population, the bank began expanding its retail branch network throughout the territory.

From the late 1950s the bank began to grow and diversify by acquiring other banks, including Hong Kong’s Hang Seng Bank in 1965. Responding to the Chinese government’s ‘Open Door’ policy in 1979, the bank opened a representative office in Guangzhou as many of its customers began to relocate their operations from Hong Kong to mainland China. HSBC continued to invest and grow in Hong Kong and the surrounding region into the 21st century.

Hong Kong remains the headquarters of The Hongkong and Shanghai Banking Corporation, and the bank is committed to the future of its birthplace.

For more information, please visit the HSBC History Website.

Make your next move. Make your mark

Our brand campaign vividly captures the sounds, energy, and ambitions that define Hong Kong as a vibrant and cosmopolitan city. It is also an inspiring reflection of HSBC's story in Hong Kong – from how we capture ideas, ever striving for progress, to how we leverage our strong franchise in the city and our unrivalled global network to bring our customers to a world of opportunity.

Play Video

Video transcript (PDF, 57KB)

Financial information

The Group’s financial information please visit the investor relations section on our global corporate website. Please visit the Subsidiary company reporting page for Hang Seng Bank Limited and The Hongkong and Shanghai Banking Corporation Limited and the Hongkong and Shanghai Banking Corporation Limited - Macau branch. Please note this is English language only.

The Hongkong and Shanghai Banking Corporation Limited Board of Directors

Board of Directors (PDF, 24KB)

For details about HSBC’s global operations and Group board members, go to our corporate website . Please note this is English language only.

HSBC Group history timeline

1865

2024

Hong Kong harbour, Chinese artist, early 1860s

Staff in Fuzhou, China, 1887

Portrait of Thomas Jackson, around 1890

Chinese railway bond certificate, 1907

Staff in military uniform, First World War

Hong Kong building, 1965

Prison camp diary of HSBC staff member Max Haymes, 1943

Hong Kong garment factory, around 1950

Persian banknote, early 20th century

UK cash machine, around 1970

HSBC office, New York, 1999

HSBC lion, London, present day

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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles.

By 1875 HSBC was present in seven countries across Asia, Europe and North America. It financed the export of tea and silk from China, cotton and jute from India, sugar from the Philippines and rice and silk from Vietnam.

By 1900, after strong growth under Chief Manager Thomas Jackson, the bank had expanded into 16 countries and was financing trade across the world. Bullion, exchange and merchant banking were important features of the bank’s business.

In the early 20th century, HSBC widened the scope of its activities in Asia. It issued loans to national governments to finance modernisation and infrastructure projects such as railway building.

The First World War brought disruption and dislocation to many businesses. By the 1920s, however, Asia was beginning to prosper again as new industries developed and trade in commodities such as rubber and tin soared.

The 1930s brought recession and turmoil to many markets. Nonetheless, HSBC asked architects Palmer and Turner to design a new head office in Hong Kong: “Please build us the best bank in the world.” The cutting-edge art deco building opened in 1935.

The bank faced one of its most challenging times during the Second World War. Staff in Asia showed huge courage in the face of adversity. Many became prisoners of war. Only the London, Indian and US branches remained in full operation.

At the end of the war, HSBC took on a key role in the reconstruction of the Hong Kong economy. Its support helped established manufacturers as well as newcomers to Hong Kong grow their business.

By the 1970s the bank had expanded through acquisition. HSBC bought Mercantile Bank and The British Bank of the Middle East in 1959. In 1972 it formed a merchant banking arm, extending its range of services.

In the 1980s HSBC bought Marine Midland Bank in the US. In 1992, the newly created HSBC Holdings plc made a recommended offer for full ownership of the UK’s Midland Bank. Following the acquisition, HSBC moved its headquarters to London.

In 1998, the bank announced it would adopt a unified brand, using HSBC and the hexagon symbol everywhere it operated.

Our purpose – Opening up a world of opportunity – explains why we exist. We’re here to use our unique expertise, capabilities, breadth and perspectives, opening up a world of opportunity for our customers.

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