The world's local bank
Group history 1865-1899
| 2000 to present day | 1980 - 1999 | 1946 - 1979 | 1900 - 1945 | 1865 - 1899 |
1865-1899
The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China.
The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realised that there was considerable demand for local banking facilities in Hong Kong and on the China coast and he helped to establish the bank which opened in Hong Kong in March 1865 and in Shanghai a month later.
Soon after its formation the bank opened agencies and branches around the world. Although that network reached as far as Europe and North America, the emphasis was on building up representation in China and the rest of the Asia-Pacific region. HSBC was a pioneer of modern banking practices in a number of countries. In Japan, where a branch was established in 1866, the bank acted as adviser to the government on banking and currency. In 1888, it was the first bank to be established in Thailand, where it printed the country’s first banknotes.
From the outset trade finance was a strong feature of the local and international business of the bank, an expertise that has been recognised throughout its history. Bullion, exchange, merchant banking and note issuing also played an important part. By the 1880s, the bank was acting as banker to the Hong Kong government and also participated in the management of British government accounts in China, Japan, Penang and Singapore. In 1874 the bank handled China’s first public loan and thereafter issued most of China’s public loans.
By the end of the century, after a strong period of growth and success under the leadership of Thomas Jackson (chief manager for most of that period from 1876 to 1902), the bank was the foremost financial institution in Asia.
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Full document
The HSBC Group - A brief History
(40 page pdf 2,645K)
Due to the size of the document you may wish to download a specific section:
The HSBC Group in the Americas
(6 page pdf 388K)
The HSBC Group in the Asia-Pacific region
(10 page pdf 798K)
The HSBC Group in Europe
(9 page pdf 555K)
HSBC Group in the Middle East
(4 page pdf 276K)
The making of the modern HSBC Group
(5 page pdf 246K)
Chinese translation of full document
HSBC Group - A brief history (Chinese translation)
(40 page pdf 4,483K)
