HSBC
About HSBC
Founded in Hong Kong in 1865 as the Hongkong and Shanghai Banking Corporation to finance trade between Europe and Asia. HSBC became the dominant bank in colonial Hong Kong, even issuing banknotes. The bank moved its headquarters to London in 1993 ahead of the Hong Kong handover to China. HSBC acquired Midland Bank in the UK, Republic National Bank in the US, and CCF in France. The bank was fined 1.9 billion in 2012 for money laundering for Mexican drug cartels and sanctioned countries. HSBC has been criticized for its operations in Hong Kong, including freezing accounts of pro democracy activists under pressure from Beijing.
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