The world's local bank
Group history 1900-1945
| 2000 to present day | 1980 - 1999 | 1946 - 1979 | 1900 - 1945 | 1865 - 1899 |
1900-1945
In the early years of the twentieth century, HSBC widened the scope of its activities in the East. It became increasingly involved in the issuing of loans to national governments, especially in China, to finance modernisation and internal infrastructure projects such as railway building. The First World War brought disruption and dislocation to many businesses but the 1920s saw a return to prosperity in the East as new industries were developed and trade in commodities such as rubber and tin soared. The bank’s new head office in Hong Kong (1935) and the new buildings at major branches such as Bangkok (1921), Manila (1922) and Shanghai (1923) reflected this confidence. In contrast the political outlook in China grew increasingly uncertain. Throughout the 1930s, in keeping with its long-standing connections with government finance in China, the bank took a leading part in efforts to stabilise the Chinese national currency.
In the Second World War, the majority of the bank’s staff in the East became prisoners of war as the Japanese advanced through Asia. The chief manager, Sir Vandeleur Grayburn and his designated successor died while prisoners in Hong Kong. The bank survived under the guidance of its London Advisory Committee who were empowered to act as a Board of Directors in 1943, and under the leadership of Arthur Morse who became Chairman and Chief Manager of the bank at the same time. With most of the branch network shut down the bank adjusted to wartime conditions whilst always making plans to return to its home.
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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)
