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The industry considered this move, giving HSBC a lead in the race to grab pieces of mainland China's banking market. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank to purchase an 11% stake in Bank of Shanghai (HSBC paid US$62.6 million for an 8% stake) and US$733 million for a 10% stake in Ping An Insurance.
It is one of Hong Kong's leading public companies in terms of market capitalisation and is part of the HSBC Group, which holds a majority equity interest in the bank. [2] Hang Seng Bank is a commercial bank whose major business activities include retail banking, wealth management, commercial banking, treasury services, and private banking. [2]
HSBC Holdings plc (Chinese: 滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
PayMe (officially known as PayMe from HSBC) is a mobile payment service from HSBC, currently available only for Hong Kong users with local phone numbers and banks. Users can pay businesses, transfer money to one another using a mobile app , linked to their credit card or (any local) bank account.
The Greater China region, which includes Hong Kong and Taiwan, is the group's biggest income generator but China is the only market globally where HSBC's wealth and personal banking business is ...
Faster Payment System (FPS; Chinese: 快速支付系統, more commonly known as 轉數快) is a real-time gross settlement [1] payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators. [2]
HSBC Bank Australia was granted a banking licence in 1986, although the bank had originally established an Australian presence as Hongkong Finance Ltd in 1964. [3] It is a foreign bank in Australia, offering a wide range of banking products and services to the retail, commercial, corporate and institutional sectors. The bank's headquarters is ...