Ten fun facts about HSBC

Ten fun facts about HSBC

1. HSBC's impressive assets

HSBC, one of the world's largest banking and financial services companies, had total assets of $2.671 trillion as of December 2013. Of this, half was located in Europe, the Middle East and Africa, while a quarter was located in the Asia-Pacific region and the remaining quarter in the Americas. This impressive figure is a testament to the company's global reach and its ability to provide financial services to customers around the world.

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2. Third-Party Letter Needed for Cash Withdrawals

In 2014, HSBC implemented a policy that required customers to provide a third-party letter when attempting to withdraw large amounts of cash. This policy was put in place to ensure that the money was being used for legitimate purposes and to help protect customers from fraud. The letter must include details about the purpose of the withdrawal, such as the intended recipient, the amount of money being withdrawn, and the reason for the withdrawal. This policy has been successful in helping to reduce fraud and protect customers from financial loss.

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3. HSBC Accused of Money Laundering and Tax Evasion

In 2013, the Argentinean taxing authority accused HSBC of engaging in money laundering and tax evasion. This accusation was made after the authority conducted an investigation into the bank's activities, which revealed that HSBC had been using its branches in Argentina to facilitate the laundering of money and the evasion of taxes. The investigation also revealed that HSBC had been using its branches in other countries to help its clients in Argentina to hide their assets and evade taxes. The Argentinean government has since taken legal action against HSBC, and the bank has been forced to pay millions of dollars in fines and penalties.

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4. HSBC was the most profitable bank in the world in 2007

In 2007, HSBC was the most profitable bank in the world, with a net income of $19.13 billion, significantly higher than Bank of America's $14.98 billion. This impressive figure was a testament to HSBC's success in the banking industry, and it was a clear indication of the bank's ability to generate substantial profits. The bank's success was further highlighted by its strong presence in the global market, with operations in over 80 countries and territories.

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5. 150 Years of Banking Innovation

Founded in 1865 by Sir Thomas Sutherland, the Hong Kong and Shanghai Banking Corporation, more commonly known as HSBC, has been a major player in the banking industry for over 150 years. With its headquarters in London, HSBC has grown to become one of the world's largest banking and financial services organizations, operating in over 70 countries and territories across Europe, Asia, the Middle East, Africa, North America, and Latin America. Today, HSBC is a global leader in retail banking, wealth management, and commercial banking, and is committed to helping its customers make the most of their money.

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6. HSBC sponsors world-renowned golf tournaments

HSBC is a major sponsor of golf events, including the prestigious HSBC World Match Play Championship and the HSBC Women's Champions. These events attract some of the world's top golfers, and provide a platform for them to showcase their skills and compete for the top prize. The HSBC World Match Play Championship is one of the oldest and most prestigious golf tournaments in the world, and the HSBC Women's Champions is the only women's golf tournament in the world to be sanctioned by the LPGA. Both events are highly anticipated by golf fans around the world, and provide a great opportunity for HSBC to promote its brand.

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7. HSBC Scandal: 2012 Report Shows Offshore Accounts Used for Crime

In 2012, the HSBC was reported to have set up offshore accounts in Jersey for drug-dealers and criminals, a scandalous revelation that caused a huge public outcry. The accounts were used to launder money and evade taxes, and the bank was fined a record $1.9 billion by the US Department of Justice for its involvement in the scheme. The scandal highlighted the need for greater transparency in the banking sector, and the bank has since implemented a number of measures to ensure that such activities are not repeated.

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8. Banking Giant in Hong Kong

HSBC is the largest bank in Hong Kong and is a major player in the local economy. Not only does it provide banking services to the people of Hong Kong, but it also prints its own currency in its own name. This is a unique feature that sets HSBC apart from other banks in the region, and it is a testament to the bank's commitment to the people of Hong Kong. With its strong presence in the region, HSBC is well-positioned to continue to be a leader in the banking industry in Hong Kong.

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9. HSBC's world headquarters in Canary Wharf

HSBC, one of the world's largest banking and financial services organisations, has its world headquarters located in the heart of London's financial district, Canary Wharf. The impressive 8 Canada Square building stands tall at the centre of the area, and is home to the bank's global headquarters. With over 6,000 offices in 71 countries and territories, HSBC is a major player in the global banking industry.

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10. A Global Banking Giant with 89 Million Customers

HSBC is a global banking giant, with over 7,200 offices in 85 countries across Africa, Europe, Asia and the Americas. This impressive network of branches serves an estimated 89 million customers, providing them with a wide range of financial services and products. From personal banking to corporate banking, HSBC is committed to helping customers achieve their financial goals.

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A British multinational banking and financial company.