HSBC

A British multinational holding corporation for universal banks and financial services, HSBC Holdings plc. With US$2.953 trillion in assets as of December 2021, it surpassed BNP Paribas to hold the title of largest bank in Europe. HSBC had $4.9 trillion in assets under administration and $10.8 trillion in assets under custody (AUC) as of 2021. (AUA).

The name HSBC is derived from the initials of the Hongkong and Shanghai Banking Corporation, which created the organization in its current form in London to serve as a new group holding company in 1991. After opening offices in Shanghai in 1865, the Hongkong and Shanghai Banking Corporation was formally founded in 1866.

Almost 40 million customers are served by HSBC's 64 offices spread across Africa, Asia, Oceania, Europe, North America, and South America. According to Forbes' rankings of large corporations based on revenue, profits, assets, and market value as of 2022, it was rated no. 38 globally.

HSBC's market capitalization as of March 2023 is $133.64 billion. By market cap, HSBC is now the 87th most valuable corporation in the world. The most recent financial reports from HSBC indicate that the company's current revenue (TTM) is $61.49 billion. The corporation generated $63.66 billion in revenue in 2021, an increase from $62.88 billion in revenue in 2020.

Founded: First established on 3 March 1865
Headquarters: 8 Canada SquareLondon, England, UK
Website: www.hsbc.com