HSBC

HSBC Holdings plc (NYSE: HSBC) is one of the world's largest banking and financial services organizations. Founded in 1865 in British Hong Kong, HSBC moved its headquarters to London in 1993 after acquiring full ownership of Midland Bank.

HSBC offers a comprehensive range of financial products and services across its global businesses:

• Wealth and Personal Banking: Provides everyday banking, mortgages, loans, credit cards, savings and investment products to around 40 million retail customers worldwide.

• Commercial Banking: Offers banking services to businesses from small enterprises to large corporations, including lending, payments, cash management and trade finance solutions.

• Global Banking and Markets: Serves large corporations, governments and institutional clients with investment banking, financing and risk management services.

HSBC has undergone several strategic initiatives in recent years. In 2023, the bank completed the acquisition of Silicon Valley Bank UK to strengthen its innovation economy proposition. HSBC reported record profits of USD 30.3 billion in 2023, driven by higher interest rates. The bank has set a target of mid-teens return on tangible equity for 2024. HSBC continues to focus on expanding in its core markets of Asia and the Middle East while maintaining a strong presence in the UK. The bank has also emphasized its sustainability commitments, including a target to provide USD 750 billion to USD 1 trillion in sustainable finance and investment by 2030.