HSBC Holdings PLC

HSBC Holdings PLC (commonly known as HSBC) is a British multinational investment bank and financial services company headquartered in London, United Kingdom. It was founded in 1865 by the Hongkong and Shanghai Banking Corporation to finance trade between Europe and Asia. Today, it is one of the world’s largest banking organisations with operations in over 60 countries around the world.

The Group serves more than 38 million customers through four global businesses: Retail Banking & Wealth Management; Commercial Banking; Global Private Bank; and Asset Management. The group also offers its products and services through networks comprising subsidiaries, joint ventures, associated companies, branches or representative offices across regions including Europe (including EMEA region), North America , Latin America , Middle East & Africa , Asia-Pacific . As at 31 December 2019 total assets were US$2 619 billion while market capitalisation stood at US$150 billion making it one of the biggest banks globally by both measures.

In 2020 HSBC completed several strategic initiatives undertaken since 2018 such as divestment of operations in Turkey ; exiting retail banking business from France ; restructuring investments arm – M&IB Investment management ; simplifying corporate structure which resulted into phased withdrawal from direct ownership models . These along with other cost saving measures has enabled them to improve profitability resulting into return on tangible equity increasing to 8% for full year 2020 compared to 5% reported for 2019 . Furthermore during this period they invested heavily towards digital transformation programmes enabling adoption of latest technologies like AI/ML etc., implementation of Open API platforms that has helped further reduce costs while enhancing customer experience significantly under their “One Digital” strategy initiative launched back in 2017 targeting 70 percent paperless transactions within three years time frame which have now been achieved ahead schedule i.e 2 years only due to pandemic led shift towards contact less payments methods recently .

Throughout its history HSBC had remained committed towards doing good for society too using sustainability framework developed based upon UN Sustainable Development Goals focusing mainly on areas such Climate Change Action Initiatives covering transition away from fossil fuels sources toward renewables Energy solutions , Financial Education Programmes helping people understand importance managing finances better especially youth community et al..It also works closely with local communities engaging itself proactively providing them access employment opportunities thus creating jobs particularly relevant post covid era where unemployment rate has crossed historical peak levels worldwide .. Consequently these efforts have earned them recognition amongst industry peers being awarded multiple titles consistently every year be it best employer award given out by Great Place To Work Institute or Best International Bank Award presented annually by Euromoney Magazine amongst others evidencing strong commitment achieving excellence standards forefront constantly innovating challenging status quo redefining boundaries conventional norms existing today thereby creating value shareholders stakeholders alike …