HSBC 2008 Annual Report Download - page 89

87
Geographical regions
Page
Summary ....................................................... 87
Europe ........................................................... 89
Hong Kong .................................................... 99
Rest of Asia-Pacific ....................................... 107
North America ............................................... 119
Latin America ................................................ 129
Additional information on results in 2008 may be
found in the ‘Financial Summary’ on pages 23 to 38.
Summary
Europe
HSBC’s principal banking operations in Europe are
HSBC Bank plc (‘HSBC Bank’) in the UK, HSBC
France, HSBC Bank A.S. in Turkey, HSBC Bank
Malta p.l.c., HSBC Private Bank (Suisse) S.A.,
HSBC Trinkaus & Burkhardt AG and HSBC
Guyerzeller Bank AG. Through these operations
HSBC provides a wide range of banking, treasury
and financial services to personal, commercial and
corporate customers across Europe.
Hong Kong
HSBC’s principal banking subsidiaries in Hong
Kong are The Hongkong and Shanghai Banking
Corporation Limited (‘The Hongkong and Shanghai
Banking Corporation’) and Hang Seng Bank Limited
(‘Hang Seng Bank’). The former is the largest bank
incorporated in Hong Kong and is HSBC’s flagship
bank in the Asia-Pacific region. It is one of Hong
Kong’s three note-issuing banks, accounting for
more than 65 per cent by value of banknotes in
circulation in 2007.
Rest of Asia-Pacific (including the
Middle East)
HSBC offers personal, commercial, global banking
and markets services in mainland China, mainly
through its local subsidiary, HSBC Bank (China)
Company Limited (‘HSBC Bank China’). HSBC
also participates indirectly in mainland China
through its three associates, Bank of
Communications (19.01 per cent owned), Ping An
Insurance (16.78 per cent) and Industrial Bank
(12.78 per cent), and has a further interest of 8 per
cent in Bank of Shanghai.
Outside Hong Kong and mainland China, HSBC
conducts business in 20 countries in the Asia-Pacific
region, primarily through branches and subsidiaries
of The Hongkong and Shanghai Banking
Corporation, with particularly strong coverage in
India, Indonesia, South Korea, Singapore and
Taiwan. HSBC’s presence in the Middle East is led
by HSBC Bank Middle East Limited (‘HSBC Bank
Middle East’), whose network of branches, together
with HSBC’s subsidiaries and associates, gives it the
widest coverage in the region; in Australia by HSBC
Bank Australia Limited; and in Malaysia by HSBC
Bank Malaysia Berhad (‘HSBC Bank Malaysia’),
which is the largest foreign-owned bank in the
country by operating income and pre-tax profits.
HSBC’s associate in Saudi Arabia, The Saudi British
Bank (40 per cent owned), is the Kingdom’s fifth
largest bank by total assets.
North America
HSBC’s North American businesses are located in
the US, Canada and Bermuda. Operations in the US
are primarily conducted through HSBC Bank USA,
N.A. (‘HSBC Bank USA’) which is concentrated in
New York State, and HSBC Finance, a national
consumer finance company based in the Chicago
metropolitan area. HSBC Markets (USA) Inc. is the
intermediate holding company of, inter alia, HSBC
Securities (USA) Inc., a registered broker and dealer
of securities and a registered futures commission
merchant. HSBC Bank Canada and The Bank of
Bermuda Limited (‘Bank of Bermuda’) operate in
their respective countries.
Latin America
HSBC’s operations in Latin America principally
comprise HSBC México, S.A. (‘HSBC Mexico’),
HSBC Bank Brasil S.A.-Banco Múltiplo (‘HSBC
Bank Brazil’), HSBC Bank Argentina S.A. (‘HSBC
Bank Argentina’) and HSBC Bank (Panama) S.A.
(‘HSBC Bank Panama’), which owns subsidiaries in
Costa Rica, Honduras, Colombia, Nicaragua and El
Salvador. HSBC is also represented by subsidiaries
in Chile, the Bahamas, Peru, Paraguay and Uruguay
and by a representative office in Venezuela. In
addition to banking services, HSBC operates
insurance businesses in Mexico, Argentina, Brazil,
Panama, Honduras and El Salvador. In Brazil, HSBC
offers consumer finance products through its
subsidiary, Losango.