107-620: HSBC Bank may refer to any one of the following principal local banks or divisions of the HSBC Group: Asia-Pacific [ edit ] HSBC (Hong Kong) PayMe , its local payment service HSBC Bank (China) HSBC Bank Australia HSBC Bank India HSBC Bank Malaysia HSBC Sri Lanka HSBC Bank (Taiwan) Europe [ edit ] HSBC UK M&S Bank , its subsidiary First Direct , its direct banking division HSBC Continental Europe in
214-720: A hong trading house in British Hong Kong . The bank was established in 1865 in Hong Kong and opened branches in Shanghai in the same year. It was first formally incorporated in 1866. In 1991, the present parent legal entity, HSBC Holdings plc , was established in London and the historic Hong Kong–based bank from whose initials the group took its name became that entity's fully-owned subsidiary. The next year (1992), HSBC took over Midland Bank and thus became one of
321-547: A family . Investigation of the historical relationships among the varieties of Chinese is ongoing. Currently, most classifications posit 7 to 13 main regional groups based on phonetic developments from Middle Chinese , of which the most spoken by far is Mandarin with 66%, or around 800 million speakers, followed by Min (75 million, e.g. Southern Min ), Wu (74 million, e.g. Shanghainese ), and Yue (68 million, e.g. Cantonese ). These branches are unintelligible to each other, and many of their subgroups are unintelligible with
428-469: A nucleus that has a vowel (which can be a monophthong , diphthong , or even a triphthong in certain varieties), preceded by an onset (a single consonant , or consonant + glide ; a zero onset is also possible), and followed (optionally) by a coda consonant; a syllable also carries a tone . There are some instances where a vowel is not used as a nucleus. An example of this is in Cantonese, where
535-457: A subject–verb–object word order , and like many other languages of East Asia, makes frequent use of the topic–comment construction to form sentences. Chinese also has an extensive system of classifiers and measure words , another trait shared with neighboring languages such as Japanese and Korean. Other notable grammatical features common to all the spoken varieties of Chinese include the use of serial verb construction , pronoun dropping , and
642-469: A 212% increase in quarterly profit. Chinese language Chinese ( simplified Chinese : 汉语 ; traditional Chinese : 漢語 ; pinyin : Hànyǔ ; lit. ' Han language' or 中文 ; Zhōngwén ; 'Chinese writing') is a group of languages spoken natively by the ethnic Han Chinese majority and many minority ethnic groups in China , as well as by various communities of
749-510: A Chinese character is the morpheme, as characters represent the smallest grammatical units with individual meanings in the Chinese language. Estimates of the total number of Chinese words and lexicalized phrases vary greatly. The Hanyu Da Zidian , a compendium of Chinese characters, includes 54,678 head entries for characters, including oracle bone versions. The Zhonghua Zihai (1994) contains 85,568 head entries for character definitions and
856-599: A Shanghai resident may speak both Standard Chinese and Shanghainese ; if they grew up elsewhere, they are also likely fluent in the dialect of their home region. In addition to Standard Chinese, a majority of Taiwanese people also speak Taiwanese Hokkien (also called 台語 ; 'Taiwanese' ), Hakka , or an Austronesian language . A speaker in Taiwan may mix pronunciations and vocabulary from Standard Chinese and other languages of Taiwan in everyday speech. In part due to traditional cultural ties with Guangdong , Cantonese
963-528: A bank in Hong Kong that is majority-owned by HSBC Banco Davivienda El Salvador , formerly HSBC El Salvador HSBC Bank Georgia , closed in 2011 HSBC Bank (Brazil) , sold in 2016 [REDACTED] Banks portal [REDACTED] Index of articles associated with the same name This set index article includes a list of related items that share the same name (or similar names). If an internal link incorrectly led you here, you may wish to change
1070-462: A central variety (i.e. prestige variety, such as Standard Mandarin), as the issue requires some careful handling when mutual intelligibility is inconsistent with language identity. The Chinese government's official Chinese designation for the major branches of Chinese is 方言 ; fāngyán ; 'regional speech', whereas the more closely related varieties within these are called 地点方言 ; 地點方言 ; dìdiǎn fāngyán ; 'local speech'. Because of
1177-615: A compromise between the pronunciations of different regions. The royal courts of the Ming and early Qing dynasties operated using a koiné language known as Guanhua , based on the Nanjing dialect of Mandarin. Standard Chinese is an official language of both the People's Republic of China and the Republic of China (Taiwan), one of the four official languages of Singapore , and one of
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#17327806741661284-714: A corresponding increase in the number of homophones . As an example, the small Langenscheidt Pocket Chinese Dictionary lists six words that are commonly pronounced as shí in Standard Chinese: In modern spoken Mandarin, however, tremendous ambiguity would result if all of these words could be used as-is. The 20th century Yuen Ren Chao poem Lion-Eating Poet in the Stone Den exploits this, consisting of 92 characters all pronounced shi . As such, most of these words have been replaced in speech, if not in writing, with less ambiguous disyllabic compounds. Only
1391-651: A large French bank, for £6.6 billion. In July 2001 HSBC bought Demirbank , an insolvent Turkish bank. In July 2002, Arthur Andersen announced that HSBC USA, Inc., through a new subsidiary, Wealth and Tax Advisory Services USA Inc. ( WTAS ), would purchase a portion of Andersen's tax practice. The new HSBC Private Client Services Group would serve the wealth and tax advisory needs of high-net-worth individuals. Then in August 2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexico's third largest retail bank for $ 1.1 billion. In November 2002, HSBC expanded further in
1498-576: A millennium. The Four Commanderies of Han were established in northern Korea in the 1st century BCE but disintegrated in the following centuries. Chinese Buddhism spread over East Asia between the 2nd and 5th centuries CE, and with it the study of scriptures and literature in Literary Chinese. Later, strong central governments modeled on Chinese institutions were established in Korea, Japan, and Vietnam, with Literary Chinese serving as
1605-587: A new business unit as Wealth and Personal Banking. In October 2020, HSBC committed to achieve zero-emission by 2050, e.g., by this year it would not only become carbon neutral by itself but also will work only with carbon-neutral clients. It also committed to providing 750–1,000 billion dollars to help clients make the transition. It also pledged to achieve carbon neutrality in his own operations by 2030. In January 2021, HSBC announced that it would be closing 82 branches in Britain. In May 2021, HSBC announced
1712-838: A new coal policy and provide further detail on its climate strategy by the end of 2021. The organisation's "Thermal Coal Phase-Out Policy" was published in December 2021. In August 2021, HSBC announced the acquisition of AXA Singapore. HSBC Insurance (Asia-Pacific) Holdings Ltd, an indirect wholly-owned subsidiary of HSBC would acquire 100% of the issued share capital of AXA Singapore for $ 575m. In December 2021, HSBC Asset Management (India) Private Ltd, an indirect wholly-owned subsidiary of HSBC announced it would acquire L&T Investment Management for $ 425 million from L&T Finance Holdings . In June 2022, HSBC announced its intention to sell its business in Russia. This requires approval from
1819-483: A new head office building in Hong Kong in 1935. Bank note issuance displaced other forms of the era and of the region, such as silver taels , due to political and economic instability. HSBC gained significant influence as a result. Michael Turner became chief manager in 1953 and set about diversifying the business. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of
1926-470: A preferred location for money laundering. The United States Department of Justice , however, decided not to pursue criminal penalties, a decision which the New York Times labelled a "dark day for the rule of law." HSBC chief executive Stuart Gulliver said: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again." In July 2013, Alan Keir
2033-520: A record $ 1.92 billion fine in this money laundering case. It was reported that bank officials consistently overlooked internal warnings about the inadequacy of HSBC's monitoring systems, according to the Justice Department. For example, in 2008, the CEO of HSBC Mexico was reportedly informed by Mexican law enforcement about a recording of a Mexican drug lord, who indicated that HSBC Mexico was
2140-412: A representative office. HSBC announced renaming of its Personal Financial Services (PFS) business group to Retail Banking and Wealth Management (also known as RBWM) on HSBC's 2011 Investor Day. On 11 May 2013, the new chief executive Stuart Gulliver announced that HSBC would refocus its business strategy and that a large-scale retrenchment of operations, particularly in respect of the retail sector,
2247-542: A secure reconstruction of Proto-Sino-Tibetan, the higher-level structure of the family remains unclear. A top-level branching into Chinese and Tibeto-Burman languages is often assumed, but has not been convincingly demonstrated. The first written records appeared over 3,000 years ago during the Shang dynasty . As the language evolved over this period, the various local varieties became mutually unintelligible. In reaction, central governments have repeatedly sought to promulgate
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#17327806741662354-508: A similar way to the use of Latin and Ancient Greek roots in European languages. Many new compounds, or new meanings for old phrases, were created in the late 19th and early 20th centuries to name Western concepts and artifacts. These coinages, written in shared Chinese characters, have then been borrowed freely between languages. They have even been accepted into Chinese, a language usually resistant to loanwords, because their foreign origin
2461-401: A total 470 branches before divestments. On 9 August 2011, Capital One Financial Corp. agreed to acquire HSBC's U.S. credit card business for $ 2.6 billion, netting HSBC Holdings an estimated after-tax profit of $ 2.4 billion. In September it was announced that HSBC sought to sell its general insurance business for around $ 1 billion. In 2012, HSBC was the subject of hearings of
2568-631: A unified standard. The earliest examples of Old Chinese are divinatory inscriptions on oracle bones dated to c. 1250 BCE , during the Late Shang . The next attested stage came from inscriptions on bronze artifacts dating to the Western Zhou period (1046–771 BCE), the Classic of Poetry and portions of the Book of Documents and I Ching . Scholars have attempted to reconstruct
2675-575: A variety of Yue from a small coastal area around Taishan, Guangdong . In parts of South China, the dialect of a major city may be only marginally intelligible to its neighbors. For example, Wuzhou and Taishan are located approximately 260 km (160 mi) and 190 km (120 mi) away from Guangzhou respectively, but the Yue variety spoken in Wuzhou is more similar to the Guangzhou dialect than
2782-574: A £12.5 billion (US$ 17.7 billion; HK$ 138 billion) rights issue to enable it to buy other banks that were struggling to survive. However, uncertainty over the rights issue's implications for institutional investors caused volatility in the Hong Kong stock market: on 9 March 2009 HSBC's share price fell 24.14%, with 12 million shares sold in the last few seconds of trading. On 25 April 2011, HSBC decided to shut down its retail banking business in Russia and reduce its private banking presence to
2889-602: Is Taishanese. Wuzhou is located directly upstream from Guangzhou on the Pearl River , whereas Taishan is to Guangzhou's southwest, with the two cities separated by several river valleys. In parts of Fujian , the speech of some neighbouring counties or villages is mutually unintelligible. Local varieties of Chinese are conventionally classified into seven dialect groups, largely based on the different evolution of Middle Chinese voiced initials: Proportions of first-language speakers The classification of Li Rong , which
2996-574: Is a 90% HSBC-owned joint venture. In November 2022, HSBC announced its intention to exit the Canadian market. Royal Bank of Canada would acquire 100% of the common shares of HSBC Canada for an all-cash purchase price of $ 13.5 billion, 9.4 times HSBC Canada's estimated 2024 earnings. Completion of the transaction is expected by late 2023, subject to regulatory approvals. HSBC has been under pressure to cut costs and divest non-Asian businesses. In February 2023, HSBC announced that its profits for
3103-473: Is a British universal bank and financial services group headquartered in London , England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets , ahead of BNP Paribas , with US$ 2.919 trillion as of December 2023. In 2021, HSBC had $ 10.8 trillion in assets under custody (AUC) and $ 4.9 trillion in assets under administration (AUA). HSBC traces its origin to
3210-490: Is called either 华语 ; 華語 ; Huáyǔ or 汉语 ; 漢語 ; Hànyǔ ). Standard Chinese is based on the Beijing dialect of Mandarin. The governments of both China and Taiwan intend for speakers of all Chinese speech varieties to use it as a common language of communication. Therefore, it is used in government agencies, in the media, and as a language of instruction in schools. Diglossia is common among Chinese speakers. For example,
3317-603: Is often described as a 'monosyllabic' language. However, this is only partially correct. It is largely accurate when describing Old and Middle Chinese; in Classical Chinese, around 90% of words consist of a single character that corresponds one-to-one with a morpheme , the smallest unit of meaning in a language. In modern varieties, it usually remains the case that morphemes are monosyllabic—in contrast, English has many multi-syllable morphemes, both bound and free , such as 'seven', 'elephant', 'para-' and '-able'. Some of
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3424-445: Is only about an eighth as many as English. All varieties of spoken Chinese use tones to distinguish words. A few dialects of north China may have as few as three tones, while some dialects in south China have up to 6 or 12 tones, depending on how one counts. One exception from this is Shanghainese which has reduced the set of tones to a two-toned pitch accent system much like modern Japanese. A very common example used to illustrate
3531-668: Is specifically meant. However, when one of the above words forms part of a compound, the disambiguating syllable is generally dropped and the resulting word is still disyllabic. For example, 石 ; shí alone, and not 石头 ; 石頭 ; shítou , appears in compounds as meaning 'stone' such as 石膏 ; shígāo ; 'plaster', 石灰 ; shíhuī ; 'lime', 石窟 ; shíkū ; 'grotto', 石英 ; 'quartz', and 石油 ; shíyóu ; 'petroleum'. Although many single-syllable morphemes ( 字 ; zì ) can stand alone as individual words, they more often than not form multi-syllable compounds known as 词 ; 詞 ; cí , which more closely resembles
3638-489: Is the largest reference work based purely on character and its literary variants. The CC-CEDICT project (2010) contains 97,404 contemporary entries including idioms, technology terms, and names of political figures, businesses, and products. The 2009 version of the Webster's Digital Chinese Dictionary (WDCD), based on CC-CEDICT, contains over 84,000 entries. The most comprehensive pure linguistic Chinese-language dictionary,
3745-445: Is used as an everyday language in Hong Kong and Macau . The designation of various Chinese branches remains controversial. Some linguists and most ordinary Chinese people consider all the spoken varieties as one single language, as speakers share a common national identity and a common written form. Others instead argue that it is inappropriate to refer to major branches of Chinese such as Mandarin, Wu, and so on as "dialects" because
3852-500: Is used in education, media, formal speech, and everyday life—though Mandarin is increasingly taught in schools due to the mainland's growing influence. Historically, the Chinese language has spread to its neighbors through a variety of means. Northern Vietnam was incorporated into the Han dynasty (202 BCE – 220 CE) in 111 BCE, marking the beginning of a period of Chinese control that ran almost continuously for
3959-552: Is used in the Language Atlas of China (1987), distinguishes three further groups: Some varieties remain unclassified, including the Danzhou dialect on Hainan , Waxianghua spoken in western Hunan , and Shaozhou Tuhua spoken in northern Guangdong . Standard Chinese is the standard language of China (where it is called 普通话 ; pǔtōnghuà ) and Taiwan, and one of the four official languages of Singapore (where it
4066-428: Is very complex, with a large number of consonants and vowels, but they are probably not all distinguished in any single dialect. Most linguists now believe it represents a diasystem encompassing 6th-century northern and southern standards for reading the classics. The complex relationship between spoken and written Chinese is an example of diglossia : as spoken, Chinese varieties have evolved at different rates, while
4173-753: The Qieyun rime dictionary (601 CE), and a late period in the 10th century, reflected by rhyme tables such as the Yunjing constructed by ancient Chinese philologists as a guide to the Qieyun system. These works define phonological categories but with little hint of what sounds they represent. Linguists have identified these sounds by comparing the categories with pronunciations in modern varieties of Chinese , borrowed Chinese words in Japanese, Vietnamese, and Korean, and transcription evidence. The resulting system
4280-717: The Bank of Communications of Shanghai. In the United Kingdom HSBC acquired Marks & Spencer Retail Financial Services Holdings Ltd for £763 million in December 2004. Acquisitions in 2005 included Metris Inc, a US credit card issuer for $ 1.6 billion in August and 70.1% of Dar es Salaam Investment Bank of Iraq in October. In April 2006, HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $ 155 million. In December 2007 HSBC acquired
4387-626: The Chinese diaspora . Approximately 1.35 billion people, or 17% of the global population, speak a variety of Chinese as their first language . Chinese languages form the Sinitic branch of the Sino-Tibetan language family. The spoken varieties of Chinese are usually considered by native speakers to be dialects of a single language. However, their lack of mutual intelligibility means they are sometimes considered to be separate languages in
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4494-746: The Hong Kong Stock Exchange and London Stock Exchange and is a constituent of the Hang Seng Index and the FTSE 100 Index . It has secondary listings on the New York Stock Exchange , and the Bermuda Stock Exchange . HSBC has been implicated in a number of controversies and the bank has been repeatedly fined for money laundering (sometimes in relation to major criminal organizations such as
4601-533: The Korean , Japanese and Vietnamese languages, and today comprise over half of their vocabularies. This massive influx led to changes in the phonological structure of the languages, contributing to the development of moraic structure in Japanese and the disruption of vowel harmony in Korean. Borrowed Chinese morphemes have been used extensively in all these languages to coin compound words for new concepts, in
4708-710: The May Fourth Movement beginning in 1919. After the fall of the Northern Song dynasty and subsequent reign of the Jurchen Jin and Mongol Yuan dynasties in northern China, a common speech (now called Old Mandarin ) developed based on the dialects of the North China Plain around the capital. The 1324 Zhongyuan Yinyun was a dictionary that codified the rhyming conventions of new sanqu verse form in this language. Together with
4815-595: The National Language Unification Commission finally settled on the Beijing dialect in 1932. The People's Republic founded in 1949 retained this standard but renamed it 普通话 ; 普通話 ; pǔtōnghuà ; 'common speech'. The national language is now used in education, the media, and formal situations in both mainland China and Taiwan. In Hong Kong and Macau , Cantonese is the dominant spoken language due to cultural influence from Guangdong immigrants and colonial-era policies, and
4922-851: The Sinaloa cartel ) or setting up large scale tax avoidance schemes. After the British established Hong Kong as a crown colony in the aftermath of the First Opium War , merchants from other parts of the British Empire, now in Hong Kong, felt the need for a bank to finance the growing trade, through Hong Kong and sometimes also through Shanghai, between China and India , the rest of the British Empire and Europe, of goods, produces and merchandises of all kinds, but especially opium , cultivated in or transited (re-exported) through
5029-420: The U.S. Senate permanent subcommittee for investigations for severe deficiencies in its anti-money laundering practices (see Controversies ). On 16 July the committee presented its findings. Among other things, it concluded that HSBC had been transferring $ 7 billion in banknotes from its Mexican to its US subsidiary (much of it related to drug dealing ), was disregarding terrorist financing links and
5136-478: The oracle bone inscriptions created during the Shang dynasty c. 1250 BCE . The phonetic categories of Old Chinese can be reconstructed from the rhymes of ancient poetry. During the Northern and Southern period , Middle Chinese went through several sound changes and split into several varieties following prolonged geographic and political separation. The Qieyun , a rime dictionary , recorded
5243-596: The phonology of Old Chinese by comparing later varieties of Chinese with the rhyming practice of the Classic of Poetry and the phonetic elements found in the majority of Chinese characters. Although many of the finer details remain unclear, most scholars agree that Old Chinese differs from Middle Chinese in lacking retroflex and palatal obstruents but having initial consonant clusters of some sort, and in having voiceless nasals and liquids. Most recent reconstructions also describe an atonal language with consonant clusters at
5350-591: The 17 banks in the UK that were "facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers," as HSBC "processed $ 545.3m in Laundromat cash, mostly routed through its Hong Kong branch." Other banks facing scrutiny under the investigation included the Royal Bank of Scotland , NatWest , Lloyds , Barclays and Coutts . In response, HSBC stated that it
5457-602: The Chinese Bank in Taiwan. In May 2008, HSBC acquired IL&FS Investment, an Indian retail broking firm. On August 3, 2008, HSBC began its banking operations in Algeria with the opening of a branch in Algiers. In 2005, Bloomberg Markets magazine accused HSBC of money laundering for drug dealers and state sponsors of terrorism. Then-CEO Stephen Green said that "This was a singular and wholly irresponsible attack on
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#17327806741665564-565: The Latin-based Vietnamese alphabet . English words of Chinese origin include tea from Hokkien 茶 ( tê ), dim sum from Cantonese 點心 ( dim2 sam1 ), and kumquat from Cantonese 金橘 ( gam1 gwat1 ). The sinologist Jerry Norman has estimated that there are hundreds of mutually unintelligible varieties of Chinese. These varieties form a dialect continuum , in which differences in speech generally become more pronounced as distances increase, though
5671-898: The Middle East and the Mercantile Bank (based in India) in Aug 1959. Turner was succeeded in 1962 by Jake Saunders . In 1964 the Chief Managership was superseded as the top executive role in the bank by an Executive Chairmanship. During the Konfrontasi period in the 1960s, a group of Indonesian forces bombed the MacDonald House building in Singapore (at the time used by HSBC) just a few months after Singapore
5778-537: The Raj . The founder, Thomas Sutherland of the Peninsular and Oriental Steam Navigation Company , wanted a bank operating on "sound Scottish banking principles". Still, the original location of the bank was considered crucial and the founders chose Wardley House in Hong Kong since the construction was based on some of the best feng shui in colonial Hong Kong . After raising a capital stock of HK$ 5 million,
5885-642: The Russian government, and the deal is expected to close in the first half of 2024. The projected loss is $ 300 million. A possible buyer is the Russian Expobank . In February 2024, the President of Russia allowed HSBC and Expobank to carry out this transaction. In July 2022, HSBC became the first foreign lender to open a Chinese Communist Party (CCP) committee in its Chinese investment banking subsidiary. The subsidiary, HSBC Qianhai Securities,
5992-654: The UK-based Midland Bank and the impending transfer of sovereignty of Hong Kong to China. HSBC Holdings' acquisition of Midland Bank was completed in 1992 and gave HSBC a substantial market presence in the United Kingdom. As part of the takeover conditions for the acquisition of the bank thereof, HSBC Holdings plc was required to relocate its world headquarters from Hong Kong to London in 1993. Major acquisitions in South America started with
6099-466: The United States. Under the chairmanship of John Bond, it spent £9 billion (US$ 15.5 billion) to acquire Household Finance Corporation (HFC) , a US credit card issuer and subprime lender. In a 2003 cover story, The Banker noted "when banking historians look back, they may conclude that [it] was the deal of the first decade of the 21st century". Under the new name of HSBC Finance ,
6206-725: The bank commenced operations on 3 March 1865. It opened a branch in Shanghai in April of that year and started issuing locally denominated banknotes in both the Crown Colony and Shanghai soon afterwards. The bank was incorporated in Hong Kong as The Hongkong and Shanghai Banking Corporation by the Hongkong and Shanghai Bank Ordinance (Numbers 2 and 5 of 1866), and a branch in Japan was also established in Yokohama in 1866. Shares of
6313-406: The bank reportedly telling Mossack Fonseca it was "comfortable" with Rami Makhlouf as a customer, even though US Treasury sanctions against him were in effect at the time. On 20 March 2017, the British newspaper The Guardian reported that hundreds of banks had helped launder KGB -related funds out of Russia , as uncovered by an investigation named Global Laundromat . HSBC was listed among
6420-418: The bank were one of 13 securities initially traded on the Shanghai Stock Exchange , and were traded on that exchange until the Japanese closed the exchange in 1941 . Sir Thomas Jackson became chief manager in 1876. During his twenty-six-year tenure, the bank became a leader in Asia. A period of expansion followed, with new buildings constructed in Bangkok (1921), Manila (1922) and Shanghai (1923), and
6527-562: The bank's international compliance procedures", but subsequent investigation indicated that it was accurate and proved that the bank was involved in money laundering for the Sinaloa Cartel and throughout Mexico . In July 2006, HSBC announced that it would acquire Westpac 's sub-custody operations in Australia and New Zealand for $ 112.5 million, making HSBC the leading sub-custody and clearing player in Australia and New Zealand. In 2007, HSBC wrote down its holdings of subprime-related mortgage securities by $ 10.5 billion, becoming
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#17327806741666634-511: The branch network of its HSBC Finance arm in the United States, leading to nearly 6,000 job losses and leaving only the credit card business to continue operating. Chairman Stephen Green stated, "HSBC has a reputation for telling it as it is. With the benefit of hindsight, this is an acquisition we wish we had not undertaken." According to analyst Colin Morton, "the takeover was an absolute disaster". In March 2009, it announced that it had made US$ 9.3 billion of profit in 2008 and announced
6741-446: The business conduct of HSBC under the title Swiss Leaks based on the 2007 hacked HSBC account records from whistle-blower Hervé Falciani . The ICIJ alleges that the bank profited from doing business with corrupt politicians, dictators, tax evaders, dealers of blood diamonds, arms dealers and other clients. US Senate investigators in 2012 had sought the hacked HSBC account records from Falciani and French authorities, but never received
6848-472: The data. HSBC announced in August 2015 that it would be selling its Brazilian unit to Banco Bradesco for $ 5.2 billion following years of disappointing performance. In 2015, HSBC was recognised as the most trusted foreign bank in India by The Brand Trust Report 2015. In 2016, the bank was mentioned numerous times in connection with the Panama Papers investigation. Many Syrians were angered when their accounts were judged high-risk and closed, despite
6955-399: The different spoken dialects varies, but in general, there has been a tendency to a reduction in sounds from Middle Chinese. The Mandarin dialects in particular have experienced a dramatic decrease in sounds and so have far more polysyllabic words than most other spoken varieties. The total number of syllables in some varieties is therefore only about a thousand, including tonal variation, which
7062-484: The difficulties involved in determining the difference between language and dialect, other terms have been proposed. These include topolect , lect , vernacular , regional , and variety . Syllables in the Chinese languages have some unique characteristics. They are tightly related to the morphology and also to the characters of the writing system, and phonologically they are structured according to fixed rules. The structure of each syllable consists of
7169-599: The division was the second largest subprime lender in the United States. The new headquarters of HSBC Holdings at 8 Canada Square , London officially opened in April 2003. In July 2003, HSBC announced that it had agreed to acquire 82.19% of the Korean fund administrator, Asset Management Technology (AM TeK), for $ 12.47 million in cash; it was the largest fund administrator in South Korea, with $ 24 billion of assets under administration. In September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $ 7.8 million. In June 2004 HSBC expanded into China buying 19.9% of
7276-464: The end of the syllable, developing into tone distinctions in Middle Chinese. Several derivational affixes have also been identified, but the language lacks inflection , and indicated grammatical relationships using word order and grammatical particles . Middle Chinese was the language used during Northern and Southern dynasties and the Sui , Tang , and Song dynasties (6th–10th centuries CE). It can be divided into an early period, reflected by
7383-760: The euro area HSBC Trinkaus in Germany HSBC Bank Malta HSBC Bank Polska HSBC Bank (Turkey) Americas [ edit ] HSBC Bank USA HSBC Finance , a specialized lending subsidiary HSBC Bank Argentina HSBC Bank Bermuda HSBC Bank Canada HSBC Bank (Chile) HSBC México HSBC Bank Panama Other geographies [ edit ] HSBC Bank Egypt HSBC Bank Middle East HSBC Saudi Arabia , joint venture between HSBC and Saudi Awwal Bank Global divisions [ edit ] HSBC Expat , an offshore banking services provider based in Jersey HSBC InvestDirect , an electronic trading platform HSBC Private Bank Others [ edit ] Hang Seng Bank ,
7490-413: The exit of US retail banking business by selling 10 California branches to Cathay Bank and 80 branches to Citizens Financial Group and closing the remaining branches. The bank said it intends to focus on the banking and wealth management needs of globally connected affluent and high net worth clients. In May 2021, HSBC committed to end the financing of the coal industry , with a commitment to publish
7597-456: The first major bank to report its losses due to the unfolding subprime mortgage crisis . According to Bloomberg , "HSBC is one of world's strongest banks by some measures". When HM Treasury required all UK banks to increase their capital in October 2007, the group transferred £750 million to London within hours, and announced that it had just lent £4 billion to other UK banks. In March 2009, HSBC announced that it would shut down
7704-413: The first one, 十 , normally appears in monosyllabic form in spoken Mandarin; the rest are normally used in the polysyllabic forms of respectively. In each, the homophone was disambiguated by the addition of another morpheme, typically either a near-synonym or some sort of generic word (e.g. 'head', 'thing'), the purpose of which is to indicate which of the possible meanings of the other, homophonic syllable
7811-491: The form of a word), to indicate a word's function within a sentence. In other words, Chinese has very few grammatical inflections —it possesses no tenses , no voices , no grammatical number , and only a few articles . They make heavy use of grammatical particles to indicate aspect and mood . In Mandarin, this involves the use of particles such as 了 ; le ; ' PFV ', 还 ; 還 ; hái ; 'still', and 已经 ; 已經 ; yǐjīng ; 'already'. Chinese has
7918-618: The government of the People's Republic of China, with Singapore officially adopting them in 1976. Traditional characters are used in Taiwan, Hong Kong, Macau, and among Chinese-speaking communities overseas . Linguists classify all varieties of Chinese as part of the Sino-Tibetan language family , together with Burmese , Tibetan and many other languages spoken in the Himalayas and the Southeast Asian Massif . Although
8025-586: The language of administration and scholarship, a position it would retain until the late 19th century in Korea and (to a lesser extent) Japan, and the early 20th century in Vietnam. Scholars from different lands could communicate, albeit only in writing, using Literary Chinese. Although they used Chinese solely for written communication, each country had its own tradition of reading texts aloud using what are known as Sino-Xenic pronunciations . Chinese words with these pronunciations were also extensively imported into
8132-472: The largest domestic banks in the United Kingdom. HSBC has offices, branches and subsidiaries in 62 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 39 million customers. As of 2023, it was ranked no. 20 in the world in the Forbes rankings of large companies ranked by sales, profits, assets, and market value. HSBC has a dual primary listing on
8239-585: The last quarter of 2022 had almost doubled compared to those at the same time the previous year. However, its pre-tax profit actually fell because it absorbed the cost of selling its French retail banking operations. The bank also announced that they were closing 114 branches in the United Kingdom. The move came as more people were using online banking since the pandemic, reducing the need for physical branches. The move has been criticized by Unite . As interest rates increased globally in May 2023, HSBC Holdings reported
8346-528: The late 19th century. Today Japanese is written with a composite script using both Chinese characters called kanji , and kana. Korean is written exclusively with hangul in North Korea, although knowledge of the supplementary Chinese characters called hanja is still required, and hanja are increasingly rarely used in South Korea. As a result of its historical colonization by France, Vietnamese now uses
8453-481: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=HSBC_Bank&oldid=1235856025 " Categories : Set index articles HSBC Hidden categories: Articles with short description Short description matches Wikidata All set index articles HSBC HSBC Holdings plc ( Chinese : 滙豐 ; initialism from its founding member The Hongkong and Shanghai Banking Corporation )
8560-524: The local and international needs of domestic and overseas clients", HSBC agreed to sell 195 branches in New York and Connecticut to First Niagara Financial Group Inc , and divestures to KeyCorp , Community Bank, N.A. and Five Star Bank for around $ 1 billion, and announced the closure of 13 branches in Connecticut and New Jersey . The rest of HSBC's U.S. network will only be about half from
8667-455: The more conservative modern varieties, usually found in the south, have largely monosyllabic words , especially with basic vocabulary. However, most nouns, adjectives, and verbs in modern Mandarin are disyllabic. A significant cause of this is phonetic erosion : sound changes over time have steadily reduced the number of possible syllables in the language's inventory. In modern Mandarin, there are only around 1,200 possible syllables, including
8774-425: The mutual unintelligibility between them is too great. However, calling major Chinese branches "languages" would also be wrong under the same criterion, since a branch such as Wu, itself contains many mutually unintelligible varieties, and could not be properly called a single language. There are also viewpoints pointing out that linguists often ignore mutual intelligibility when varieties share intelligibility with
8881-583: The nasal sonorant consonants /m/ and /ŋ/ can stand alone as their own syllable. In Mandarin much more than in other spoken varieties, most syllables tend to be open syllables, meaning they have no coda (assuming that a final glide is not analyzed as a coda), but syllables that do have codas are restricted to nasals /m/ , /n/ , /ŋ/ , the retroflex approximant /ɻ/ , and voiceless stops /p/ , /t/ , /k/ , or /ʔ/ . Some varieties allow most of these codas, whereas others, such as Standard Chinese, are limited to only /n/ , /ŋ/ , and /ɻ/ . The number of sounds in
8988-449: The next chairman. However, while many current and former senior employees supported the tradition of promoting the chief executive to chairman, many shareholders instead pushed for an external candidate. HSBC's board of directors had reportedly been split over the succession planning and investors were alarmed that the row would damage the company. On 23 September 2010, Geoghegan announced he would step down as chief executive of HSBC. He
9095-538: The other varieties within the same branch (e.g. Southern Min). There are, however, transitional areas where varieties from different branches share enough features for some limited intelligibility, including New Xiang with Southwestern Mandarin , Xuanzhou Wu Chinese with Lower Yangtze Mandarin , Jin with Central Plains Mandarin and certain divergent dialects of Hakka with Gan . All varieties of Chinese are tonal at least to some degree, and are largely analytic . The earliest attested written Chinese consists of
9202-560: The purchase of the Banco Bamerindus of Brazil for $ 1 billion in March 1997 and the acquisition of Roberts SA de Inversiones of Argentina for $ 600 million in May 1997. In May 1999, HSBC expanded its presence in the United States with the purchase of Republic National Bank of New York for $ 10.3 billion. Expansion into Continental Europe took place in April 2000 with the acquisition of Crédit Commercial de France ,
9309-404: The rate of change varies immensely. Generally, mountainous South China exhibits more linguistic diversity than the North China Plain . Until the late 20th century, Chinese emigrants to Southeast Asia and North America came from southeast coastal areas, where Min, Hakka, and Yue dialects were spoken. Specifically, most Chinese immigrants to North America until the mid-20th century spoke Taishanese ,
9416-552: The related subject dropping . Although the grammars of the spoken varieties share many traits, they do possess differences. The entire Chinese character corpus since antiquity comprises well over 50,000 characters, of which only roughly 10,000 are in use and only about 3,000 are frequently used in Chinese media and newspapers. However, Chinese characters should not be confused with Chinese words. Because most Chinese words are made up of two or more characters, there are many more Chinese words than characters. A more accurate equivalent for
9523-509: The relationship was first proposed in the early 19th century and is now broadly accepted, reconstruction of Sino-Tibetan is much less developed than that of families such as Indo-European or Austroasiatic . Difficulties have included the great diversity of the languages, the lack of inflection in many of them, and the effects of language contact. In addition, many of the smaller languages are spoken in mountainous areas that are difficult to reach and are often also sensitive border zones. Without
9630-517: The six official languages of the United Nations . Standard Chinese is based on the Beijing dialect of Mandarin and was first officially adopted in the 1930s. The language is written primarily using a logography of Chinese characters , largely shared by readers who may otherwise speak mutually unintelligible varieties. Since the 1950s, the use of simplified characters has been promoted by
9737-561: The slightly later Menggu Ziyun , this dictionary describes a language with many of the features characteristic of modern Mandarin dialects. Up to the early 20th century, most Chinese people only spoke their local variety. Thus, as a practical measure, officials of the Ming and Qing dynasties carried out the administration of the empire using a common language based on Mandarin varieties , known as 官话 ; 官話 ; Guānhuà ; 'language of officials'. For most of this period, this language
9844-623: The tonal distinctions, compared with about 5,000 in Vietnamese (still a largely monosyllabic language), and over 8,000 in English. Most modern varieties tend to form new words through polysyllabic compounds . In some cases, monosyllabic words have become disyllabic formed from different characters without the use of compounding, as in 窟窿 ; kūlong from 孔 ; kǒng ; this is especially common in Jin varieties. This phonological collapse has led to
9951-547: The traditional Western notion of a word. A Chinese cí can consist of more than one character–morpheme, usually two, but there can be three or more. Examples of Chinese words of more than two syllables include 汉堡包 ; 漢堡包 ; hànbǎobāo ; 'hamburger', 守门员 ; 守門員 ; shǒuményuán ; 'goalkeeper', and 电子邮件 ; 電子郵件 ; diànzǐyóujiàn ; 'e-mail'. All varieties of modern Chinese are analytic languages : they depend on syntax (word order and sentence structure), rather than inflectional morphology (changes in
10058-512: The use of tones in Chinese is the application of the four tones of Standard Chinese, along with the neutral tone, to the syllable ma . The tones are exemplified by the following five Chinese words: In contrast, Standard Cantonese has six tones. Historically, finals that end in a stop consonant were considered to be " checked tones " and thus counted separately for a total of nine tones. However, they are considered to be duplicates in modern linguistics and are no longer counted as such: Chinese
10165-452: The words in newspapers, and 60% of the words in science magazines. Vietnam, Korea, and Japan each developed writing systems for their own languages, initially based on Chinese characters , but later replaced with the hangul alphabet for Korean and supplemented with kana syllabaries for Japanese, while Vietnamese continued to be written with the complex chữ Nôm script. However, these were limited to popular literature until
10272-517: The written language used throughout China changed comparatively little, crystallizing into a prestige form known as Classical or Literary Chinese . Literature written distinctly in the Classical form began to emerge during the Spring and Autumn period . Its use in writing remained nearly universal until the late 19th century, culminating with the widespread adoption of written vernacular Chinese with
10379-478: The year. The consumer banking division of HSBC will focus on the UK, Hong Kong , high-growth markets such as Mexico, Singapore, Turkey, and Brazil, and smaller countries where it has a leading market share. According to Reuters, Chief Executive Stuart Gulliver told the media, "There will be further job cuts. There will be something like 25,000 roles eliminated between now and the end of 2013." In August 2011 "to align our U.S. business with our global network and meet
10486-453: Was a koiné based on dialects spoken in the Nanjing area, though not identical to any single dialect. By the middle of the 19th century, the Beijing dialect had become dominant and was essential for any business with the imperial court. In the 1930s, a standard national language ( 国语 ; 國語 ; Guóyǔ ), was adopted. After much dispute between proponents of northern and southern dialects and an abortive attempt at an artificial pronunciation,
10593-633: Was actively circumventing US safeguards designed to prevent transactions involving terrorists, drug lords and rogue regimes, including hiding $ 19.4 billion in transactions with Iran. This investigation followed on from a probe by the US Federal Reserve and Office of the Comptroller of the Currency found that there was "significant potential for unreported money laundering or terrorist financing". On 11 December 2012, HSBC agreed to pay
10700-488: Was against financial crime, and that the case "highlights the need for greater information sharing between the public and private sectors." On 1 October 2017, Mark Tucker succeeded Douglas Flint as group chairman of HSBC, the first non-executive and outside chairman appointed by the group. Also in October 2017, HSBC announced that John Flint, chief executive of Retail Banking and Wealth Management, would succeed Stuart Gulliver as Group Chief Executive on 21 February 2018. It
10807-512: Was appointed chief executive of HSBC Bank plc after Brian Robertson's resignation. Keir's duties include overseeing the firm's UK, European, Middle Eastern, and African divisions. In June 2014, an indirect wholly-owned subsidiary HSBC Life (UK) Limited agreed to sell its £4.2 billion UK pensions business to Swiss Re . In February 2015 the International Consortium of Investigative Journalists released information about
10914-526: Was further announced on 5 August 2019 that Flint was leaving and his role would be filled on a temporary basis by Noel Quinn, head of HSBC's global commercial bank. Noel Quinn was subsequently appointed to the role on a permanent basis in March 2020. In February 2020, HSBC announced it would cut 35,000 jobs worldwide after it was announced corporate profits decreased by 33% in 2019. In 2020, HSBC announced merging two of its business lines: Retail Banking and Wealth Management & Global Private Banking to form
11021-405: Was granted its independence from Malaysia. Three people were killed, 33 injured, and the two Indonesian military officers responsible for the bombing were tried and executed. The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$ 5.3 billion. On 6 October 1989, it
11128-485: Was hidden by their written form. Often different compounds for the same concept were in circulation for some time before a winner emerged, and sometimes the final choice differed between countries. The proportion of vocabulary of Chinese origin thus tends to be greater in technical, abstract, or formal language. For example, in Japan, Sino-Japanese words account for about 35% of the words in entertainment magazines, over half
11235-485: Was planned. HSBC would no longer seek to be 'the world's local bank', as costs associated with this were spiraling and US$ 3.5 billion needed to be saved by 2013, with the aim of bringing overheads down from 55% of revenues to 48%. In 2010, then-chairman Stephen Green planned to depart HSBC to accept a government appointment in the Trade Ministry. Group Chief Executive Michael Geoghegan was expected to become
11342-595: Was registered as a regulated bank with the Banking Commissioner of the Government of Hong Kong . HSBC Holdings plc, originally incorporated in England and Wales, was a non-trading, dormant shelf company when it completed its transformation on 25 March 1991 into the parent holding company to the Hongkong and Shanghai Banking Corporation Limited now as a subsidiary, in preparation for its purchase of
11449-424: Was succeeded as chief executive by Stuart Gulliver , while Green was succeeded as chairman by Douglas Flint ; Flint was serving as HSBC's finance director (chief financial officer). August 2011: Further to CEO Stuart Gulliver's plan to cut $ 3.5 billion in costs over the next two years, HSBC announced that it will cut 25,000 jobs and exit from 20 countries by 2013 in addition to 5,000 job cuts announced earlier in
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