HSBC 2009 Annual Report Download - page 87

85
Geographical regions
Page
Summary ....................................................... 85
Europe ........................................................... 87
Hong Kong .................................................... 98
Rest of Asia-Pacific ....................................... 106
Middle East ................................................... 117
North America ............................................... 125
Latin America ................................................ 136
Additional information on results in 2009 may be
found in the ‘Financial Summary’ on pages 23 to 60.
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 Private Bank (Suisse)’) and HSBC Trinkaus
& Burkhardt 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 67.2 per cent by value of banknotes in
circulation in 2008.
Rest of Asia-Pacific
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 four associates, Bank of Communications
(19.01 per cent owned), Ping An Insurance
(16.78 per cent), Industrial Bank (12.78 per cent)
and Yantai City Commercial Bank (20 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
Australia, India, Indonesia, Malaysia, South Korea,
Singapore and Taiwan. HSBC’s presence in
Australia is led by HSBC Bank Australia Limited
and in Malaysia by HSBC Bank Malaysia Berhad
(‘HSBC Bank Malaysia’), which has the largest
foreign bank-owned branch network in the country.
Middle East
In the Middle East, the network of branches of
HSBC Bank Middle East Limited (‘HSBC Bank
Middle East’), together with HSBC’s subsidiaries
and associates, gives it the widest coverage in the
region. 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 and El Salvador.
HSBC is also represented by subsidiaries in Chile,
the Bahamas, Peru, Paraguay and Uruguay. 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 Promoções e Vendas Ltda.