The HSBC share price was the best performing stock in Hong Kong, rising by more than 1%. The stock was...
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
The HSBC share price has staged a strong comeback ahead of the upcoming corporate earnings. It rose to a high...
The HSBC share price will be in the spotlight on Tuesday morning as investors focus on new activist pressure from...
The HSBC share price will be in the spotlight on Thursday as the Evergrande crisis moves back to the limelight....
The HSBC share price has crawled back despite the mounting challenges among big Chinese developers. The stock is trading at...
The HSBC share price has made a steady recovery in the past few days as the market outlook continues. The...
The HSBC share price will be in the spotlight in London as investors reflect on the company’s decision to exit...
The HSBC share price has been under pressure in the past few days as the company increases its focus on...
The HSBC share price jumped to the highest level since March 2020 as the banking sector started the year on...
The HSBC share price has bounced back in the past few days. The stock has moved to 430p, which was...