HSBC Holdings plc is a British universal bank and financial services group with historical and business links to East Asia and a multinational footprint. Headquartered in London, England, it is the largest Europe-based bank by total assets. As of September 2024, HSBC held US$3.098 trillion in assets, ranking it as the 7th largest bank in the world by total assets. The bank has a presence in 57 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 39 million customers.
HSBC's origins trace back to a Hong Kong-based trading house, with the bank being established in 1865 to finance trade between China and the West. Formally incorporated in 1866 as The Hongkong and Shanghai Banking Corporation, HSBC established its current parent company, HSBC Holdings plc, in London in 1991. The following year, HSBC acquired Midland Bank, becoming one of the largest domestic banks in the United Kingdom. HSBC provides a range of financial services, including retail, commercial, and private banking, as well as wealth management. The company is listed on the London, Hong Kong, and Bermuda Stock Exchanges, with its shares also available on the New York Stock Exchange through an American depositary receipt program. In 2024, HSBC moved its U.S. headquarters to The Spiral in New York City.
