HSBC share price is the second-best performing in the FTSE 100 today. It is up by more than 2% a...
HSBC
HSBC is a British multinational bank operating in 64 countries and territories, serving clients on all continents globally. The bank holding company was created in 1991 by the Hongkong and Shanghai Banking Corporation, with its headquarters in London, UK.
However, the bank’s origins can be traced back to 1865, when it first opened multiple branches in Shanghai. The Hongkong and Shanghai Banking Corporation was officially incorporated in 1866 and has kept growing since then.
HSBC is the second-largest European bank, with BNP Paribas taking the top spot. It ranks as the sixth-largest bank globally based on its total assets and market capitalisation. The bank has three operating divisions: Global Banking & Markets, Commercial Banking, and Wealth & Personal Banking.
The global bank has been accused of multiple scandals over the years and has been fined for aiding money laundering schemes and creating massive tax-avoidance schemes.
Is HSBC a Good Investment?
I would say that HSBC is not a good investment based on its track record of unethical practices in the past that even involved laundering money for a drug cartel. However, many large banks operating today with long histories have been embroiled in scandals in the past.
I am more interested in what the bank is doing today to serve clients’ needs and stay ahead of future trends that could hurt their operations. Therefore, I wouldn’t buy HSBC shares simply because I think the bank lags behind future trends such as funding sustainable projects.
HSBC latest news
HSBC share price dropped by more than 1.6% in Hong Kong today as part of the overall sell-off of stocks...
The HSBC share price soared by more than 2% in Hong Kong as investors waited for tomorrow’s earnings. They are...
HSBC share price has declined by about 1% in London today as investors react to yesterday’s UK budget. The stock...
HSBC share price has retreated in the past few days. Shares of the biggest European bank by assets have dropped...
The HSBC share price in London started the year well. It rose by 12% in the first quarter, underperforming the...
The FTSE 100 index is in a tight range ahead of a relatively busy week where some of its biggest...
The HSBC share price is in the spotlight today after the company reported strong quarterly earnings. The stock rose by...
HSBC share price declined after Hong Kong and Singapore suspended their planned travel bubble as the number of coronavirus cases...
The HSBC share price will be in the spotlight in London as investors reflect on the company’s decision to exit...