HSBC UK

For other uses, see HSBC Bank.

HSBC Bank plc

Company type	Subsidiary of HSBC Holdings plc
Industry	Finance and insurance
Founded	1836
Headquarters	London, England, UK
Key people	Stephen Green, Chairman Dyfrig John, CEO , Paul Thuston, Managing Director Lisa White, Executive Secretary
Products	Financial services
Number of employees	85,000 (including its subsidiaries)
Website	www.hsbc.co.uk

HSBC Bank plc is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. Across all brands the bank operates some 1800 sites in the UK.

The UK headquarters of HSBC are at HSBC Tower, 8 Canada Square in the Canary Wharf area of East London. This building is also home to HSBC Group's headquarters, and houses some 8,000 staff over 45 levels.

HSBC Bank Plc is the only one of Britain's big five banks to hold more deposits than loans (loan:deposit ratio of 90%). This has led to the bank being seen as a less risky proposition than the other banks by investors and customers, as it is able to fully fund its own operations. It has also contributed to the company's share price maintaining value throughout the credit crunch, unlike other banks in the market.

Midland joins the HSBC Group

The Hongkong and Shanghai Banking Corporation acquired a 14.9 per cent equity interest in Midland Bank in 1987, and a strong working relationship developed. In 1992, HSBC Holdings plc acquired full ownership of Midland Bank. It was one of the largest acquisitions in banking history, giving HSBC the major foothold in Europe that it needed to complement its existing business in Asia and the Americas. Midland Bank was renamed HSBC Bank in 1999 as part of the adoption of the HSBC brand throughout the Group.

HSBC logo

UK banking

Under the HSBC brand the bank maintains a network of around 1500 branches throughout England and Wales, with a much smaller presence in Scotland and Northern Ireland where local banks tend to dominate. Branches are undergoing a rolling program of refurbishment to improve the 'retail experience' as the bank puts it, including the rebranding of branches as 'stores' and the inclusion of more open areas for staff to meet customers, as well as HSBC Live, a radio station specifically produced for the bank by media company Immedia in Newbury, Berkshire.

In April 2008 HSBC launched a campaign selling mortages. This was seen as a risky move by media and HSBC staff due to their previous non-plus attitude building on their 3% market share of the mortgage market. While other banks and building societies felt the effects of the 'credit crunch', HSBC, bolstered by a favourable savings to lending ratio, unveiled a mortgage rate matching deal that would offer non-HSBC mortgage customers the ability to match their current mortgage rate.

HSBC Amanah

In mid-2003 HSBC became the first UK High Street lender to offer homebuying products in compliance with Sharia (Islamic) law, which prohibits the charging or payment of interest. The range now includes a bank account and home insurance policy (Takaful) as well as home finance.

HSBC at Morrisons

HSBC operates a number of outlets in supermarkets owned by the Morrisons supermarket chain, they trade as Your bank at Morrisons and offer a range of financial services, including an exclusive credit card and savings account. The agreement with Morrisons to provide this service expired in 2009 and the few remaining stores are expected to close before the end of 2009.

Other UK operations

first direct

In 1989 the Midland Bank launched first direct, the pioneer of the revolutionary concept of telephone banking, with a person-to-person service available 24 hours a day, 365 days a year. It now offers internet banking as well and serves more than one million customers. Over its first 15 years, first direct established a position as the United Kingdom's most recommended bank.

HSBC Rail

As one of the three major Rolling Stock Companies in the UK, HSBC Rail owns around a third of passenger railway locomotives, multiple units and coaching stock running on Network Rail's system, which it leases to various train operators. HSBC Rail became a member of the HSBC Group in March 1997.

HFC Bank

Household International established HFC Bank as consumer finance business in the UK in 1973, it went on to became one of the largest consumer finance companies in the UK before Household was acquired by HSBC in 2003. HFC Bank provides retail credit to many leading national retailers and is the largest point of sale loan provider in the UK. The business focuses on retail finance, both through branches and direct channels, as well as co-branded and loyalty credit cards. Some of the key brands are the recently relaunched Beneficial Finance (with around 160 branches), marbles and The GM Card. Today HFC Bank has around 3.5 million customers.

Other brands

As a result of the Household acquisition, the UK group gained expertise allowing it to enter joint ventures and contracts with more high street names, such as taking over Marks and Spencer Money on a partnership basis in 2004 and the John Lewis Partnership Card contract.

European operations

Through various acquisition deals, including some inside the HSBC Group for reorganisational purposes HSBC Bank plc has become the regional headquarters for Europe. This means the lines of authority from across Europe for such entities as HSBC France, HSBC Trinkaus, HSBC Bank Malta plc, HSBC Turkey, HSBC Bank International and HSBC Private Bank in Europe lead to HSBC Bank plc.

Czech Republic

HSBC Bank plc is undertaking a significant expansion in Eastern and Central Europe, with the Czech Republic the first country to offer Personal Financial Services. The operations are focused on HSBC Premier.

France

HSBC France operates around 800 branches in France since the takeover of Credit Commercial de France, primarily operating under the HSBC brand. HSBC France is now the HSBC Group’s lead bank in the Eurozone, focusing on certain capital market products for a global audience, and high net worth and international business in France.

Germany

HSBC Trinkaus & Burkhardt AG was founded in 1785 and is one of the longest-established members of the HSBC Group. It has operations in private, commercial and investment banking and asset management.

Ireland

HSBC Bank plc and a number of subsidiaries have operations in insurance, reinsurance, securities services and a newly established consumer finance business. The fund management business had assets in excess of US$20bn as of 2006.

Malta

HSBC Bank Malta plc is the largest banks in Malta. It is a listed company but its majority shareholder is the HSBC Group. Formerly the Mid-Med Bank, HSBC Bank Malta is the second-longest established bank in Malta.

Switzerland

HSBC Private Bank is the Swiss operating subsidiaries of the group's Private Banking business, with 12 locations in the country. Much of the private banking business takes a lead from work done in Switzerland, with a total of 74 locations around the world operating solely for private banking business.

Turkey

HSBC Bank A.S. is now the fifth largest private bank in Turkey, having expanded through internal financing and via acquisition since entering the market in 1990. The bank has a network of around 190 branches, offering products and services to corporate, commercial and personal customers, both under the HSBC brand as well as the Advantage brand.

Postal Address (Headquarters)

HSBC Bank plc, 8 Canada Square, LONDON, E14 5HQ

Controversy

Sudden withdrawal of graduate overdrafts

In July 2007, HSBC suddenly withdrew its interest-free overdrafts for graduates. Students graduating that year discovered that they were to face unexpected bills of up to £140 a year. Students mobilised protests using the social networking website Facebook and in August HSBC reversed their policy, freezing overdraft charges to recent graduates and pledging to repay charges deducted in August while holding talks with the National Union of Students.

HSBC are blood-sucking leeches. They laughingly refer to themselves as 'the world's local bank' whilst routing calls to outsourced contact centres in India. HSBC management is said to be unethical and abusive. The bank doesn't have an ethical bone in its body. HSBC screws money out of its customers. Its chairman Stephen Green is one copper bottomed, international grade sh*t. May he die a slow and painful death and then rot.

Data loss

In April 2008 HSBC confirmed the loss of unencrypted data disks containing life insurance policy details for 370,000 customers.

Cultural insensitivity

In 2008 HSBC were accused of 'cultural insensitivity' in an advertising campaign featuring an overweight white man dressed to look like a Sumo wrestler. The campaign upset members of Britain's Japanese community who claimed the man's skin tone was darkened and makeup was applied to narrow his eyes. HSBC denied making the model appear to be from a specific country or region but admitted makeup was applied and skin tone was tanned.

Links to the arms trade

In December 2008 the British anti-poverty charity War on Want released a report documenting the extent to which HSBC and other UK commercial banks invest in, provide banking services for and make loans to arms companies. The charity writes in its report that HSBC holds shares in the global arms industry totally £450.6 million, and serves as principal banker for Meggitt, the UK's largest arms company. The report also details HSBC's dealings with known producers of cluster munitions and depleted uranium.

See also

• HSBC France
• Midland Bank plc
• First Direct
• HSBC Bank International

Sources

• http://www.hsbc.com/
• http://www.hsbc.com/hsbc/contact_us

External links

• HSBC Bank UK
• HSBC France
• HSBC Group
• First Direct
• HSBC Private Bank
• HSBC Bank International