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1		-XWiki.wiltonio
	1	+XWiki.AsifF

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5	5	= Summary =
6	6
7	7	* HSBC is one of the largest banking and financial services organisations in the world.
8		-* It has assets of $3.0tn and operations in 64 countries and territories,
	8	+* It has assets of $3.0 tn and operations in 64 countries and territories,
9	9	* The bank serves approximately 40 million customers.
10	10	* Headquartered in London, HSBC is listed on the London, Hong Kong, New York and Bermuda stock exchanges.
11	11	* HSBC announces net zero to achieve by 2050
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14	14
15	15	= Company Overview =
16	16
17		-HSBC (NYSE:HSBA, LSE:HSBA) is one of the largest banking and financial services organisations in the world HSBC has assets of $3.0tn and operations in 64 countries and territories. Approximately 40 million customers bank with it and the company employ around 220,000 full-time equivalent staff. HSBC has around 187,000 shareholders in 128 countries and territories.
	17	+HSBC (NYSE:HSBA, LSE:HSBA) is one of the largest banking and financial services organisations in the world HSBC has assets of $3.0 tn and operations in 64 countries and territories. Approximately 40 million customers bank with it and the company employ around 220,000 full-time equivalent staff. HSBC has around 187,000 shareholders in 128 countries and territories.
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20	20	The company has three reporting segments
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22	22
23	23	**Wealth and Personal Banking (’WPB’)**
24	24
25		-The company help millions of its customers look after their day-to-day finances and manage, protect and grow their wealth.
	25	+The company offers customers to manage their day-to-day finances and wealth.
26	26
27	27
28	28	**Commercial Banking (‘CMB’)**
29	29
30		-The company's global reach and expertise help domestic and international businesses around the world unlock their potential.
	30	+The company's serves domestic and international businesses with its global reach.
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32	32
33	33	**Global Banking and Markets (’GBM’)**
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43	43
44	44	**HSBC announces net zero steps**
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46		-16 Mar 2022; HSBC Holdings plc (‘HSBC’) today announces plans to continue its leadership on climate change and outlines three steps the company will take to turn its net zero ambition for its portfolio of clients into business transformation across the bank.{{footnote}}https://www.hsbc.com/news-and-media/media-releases/2022/hsbc-announces-net-zero-steps{{/footnote}}
	46	+16 Mar 2022; HSBC Holdings plc (‘HSBC’) today announces plans to turn its net zero for its business across the bank.{{footnote}}https://www.hsbc.com/news-and-media/media-releases/2022/hsbc-announces-net-zero-steps{{/footnote}}
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49	49	In 2022 the company will undertake a review of and update its wider financing and investment policies critical to achieving net zero by 2050.
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52		-Group Chief Sustainability Officer, Dr Celine Herweijer, said: “HSBC understands that the sudden energy crisis that the world finds itself in will necessitate actions in the short-term around energy security. The company's clients, like it, are operating in this new reality, but the longer-term imperative over the coming decades to transform business models for a net zero future remains unchanged. If anything, the current crisis should galvanise the need to supercharge investment into the clean energy transition.”
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55		-Celine continued: “The company believe the company can have the biggest impact on climate action by actively engaging its clients on their transition, focusing on the need for robust and credible transition plans, and by providing the financing and advisory solutions that help unlock the investments needed. The company know the company need to transform the bank to achieve this, and the company want to demonstrate the actions HSBC is taking to make this happen.”
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58	58	[[image:HSBA2.jpg]]
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71	71	* Common equity tier 1 (‘CET1’) capital ratio of 14.1%, down 1.7 percentage points from 4Q21
72	72	* The share buy-back of up to $2bn announced at its third quarter 2021 results concluded on 20 April 2022,
73	73
74		-**Noel Quinn, Group Chief Executive, said:**
75	75
76		-“I’m encouraged by its start to the year. The company's strategy is on track, with organic growth and good momentum across most parts of the Group. While profits were down on last year’s first quarter due to market impacts on Wealth revenue and a more normalised level of ECL, higher lending across all businesses and regions, and good business growth in personal banking, insurance and trade finance bode well for future quarters. HSBC has further reduced costs while maintaining high levels of technology investment, and remain on track to achieve its cost and RWA reduction targets for 2022. Although the economic outlook remains uncertain, the continued upward path of interest rates since its full year results has further strengthened its confidence in delivering a double-digit return on average tangible equity in 2023.
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79		-The Russia-Ukraine war continues to have devastating consequences both within Ukraine and beyond. The company's thoughts are with the many thousands who have lost their lives, their families and the many more whose lives will never be the same. HSBC is supporting its colleagues in the region while implementing the sanctions put in place by the UK and other governments. HSBC Russia is not accepting new business or customers and is consequently on a declining trend. The vast majority of its business in Russia serves multinational corporate clients headquartered in other countries, and as a global bank, HSBC has a responsibility to help them manage these challenging circumstances.”
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81		-
82	82	**2021 Full Year Results**
83	83
84	84	Reported revenue of $49.6bn was $0.9bn or 2% lower than in 2020. The reduction primarily reflected a fall in net interest income as a result of the impact of lower global interest rates, notably affecting its deposit franchises in WPB and in Global Liquidity and Cash Management (‘GLCM’) in CMB and GBM. In GBM’s MSS business, revenue decreased in Global Foreign Exchange and Global Debt Markets, compared with a strong 2020, although revenue increased in Equities from higher volatility and there were favourable movements in credit and funding valuation adjustments. In addition, revenue was lower in Corporate Centre. These reductions were in part mitigated by revenue growth in Wealth in WPB of $1.2bn, notably from a net favourable movement in market impacts in life insurance manufacturing, and growth in investment distribution, asset management and new business in insurance. GBM revenue also benefited from favourable valuation gains in Principal Investments. In CMB, revenue increased in Credit and Lending as margins improved, and a recovery in trade volumes resulted in higher fee income in Global Trade and Receivables Finance (‘GTRF’).{{footnote}}https://www.hsbc.com/-/files/hsbc/investors/hsbc-results/2021/annual/pdfs/hsbc-holdings-plc/220222-annual-report-and-accounts-2021.pdf{{/footnote}}
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117	117
118	118	=== Wealth and Personal Banking ===
119	119
120		-The company help customers to take care of their day-to-day finances and to manage, protect and grow their wealth. The company's international network and breadth of expertise enable it to support individuals, families, business owners, investors and entrepreneurs around the world.
	107	+The company offer customers to take care of their day-to-day finances and wealth. The company's international network and breadth of expertise enable it to support individuals, families, business owners, investors and entrepreneurs around the world.
121	121
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123		-The company bring together expertise from across the HSBC network to build a team around each customer. Depending on their needs, its customers will be supported in a variety of ways, through its branches, self-service terminals, telephone service centres, and internet and mobile banking services. The company also have specialised relationship managers who can support customers with their bespoke requirements, including helping high net worth and ultra high net worth clients plan for their future.
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125		-
126	126	=== Commercial Banking ===
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128		-The company's global reach and expertise help its customers to thrive and grow, ranging from small enterprises focused on their domestic market to large companies operating internationally.
	112	+The company's serves domestic and international businesses with its global reach.
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131		-HSBC Commercial Banking operates in 53 countries and territories, covering the developed and developing markets that matter most to its customers. Through its relationship managers and digital capabilities the company connect entrepreneurial businesses to opportunities.
	115	+HSBC Commercial Banking operates in 53 countries and territories, covering the developed and developing markets that matter most to its customers.
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134		-The company do this by meeting its customers’ day-to-day financial needs, by providing cross-border trade and treasury services, by helping them become more sustainable, and by giving them access to products and services offered by other parts of the HSBC Group. As a cornerstone of the HSBC Group, HSBC has the financial strength to support its customers with working capital, term loans and acquisition or project finance, the digital tools to help them manage their finances efficiently, and the expertise to help them raise money from the stock and bond markets.
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136		-
137	137	=== Global Banking & Markets ===
138	138
139		-HSBC Global Banking & Markets provides financial services and products to corporates, governments and financial institutions.
	120	+HSBC Global Banking & Markets provides financial services and products to corporates, governments and financial institutions and offer a full range of banking services.
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142		-The company offer a full range of banking services to support clients and continue to invest in digital capabilities to serve them effectively.
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145	145	[[image:HSBA5.jpg]]
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156	156	By 1875, the bank had expanded into seven countries across Asia, Europe and North America. It opened branches in the ports of Yokohama, Japan; Kolkata, India; Ho Chi Minh City, Vietnam; and Manila, Philippines. The bank financed the export of a variety of exports including tea and silk from China, cotton and jute from India, and sugar from the Philippines.
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159		-The much-respected Thomas Jackson (seated, centre) was HSBC’s Chief Manager for three periods between 1876 and 1902. The bank prospered under his management and by the turn of the 20th century was operating in 16 countries and territories. It had also expanded its government finance business and had issued many loans for government railway and other infrastructure projects, including China’s first public loan in 1874.
	138	+The Thomas Jackson  was HSBC’s Chief Manager for three periods between 1876 and 1902. The bank prospered under his management and by the turn of the 20th century was operating in 16 countries and territories. It had also expanded its government finance business and had issued many loans for government railway and other infrastructure projects, including China’s first public loan in 1874.
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162	162	After the First World War, the bank expanded in Asian markets, where trade in rubber and tin was booming. The expansion of branches in Bangkok, Manila and Shanghai underlined its confidence in business in the region. But along with its customers, HSBC suffered during the Great Depression. In the 1930s, its inner reserves were drawn down and the bank focused most of its resources on survival rather than expansion. Staff bonuses were cut or cancelled and shareholder dividends were reduced.
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165		-The second half of the 20th century was a period of great change and growth for HSBC. During the 1950s the bank closed its China network – apart from its Shanghai branch – following the establishment of the People’s Republic of China. This meant it had to adapt and diversify. The bank started to make its first acquisitions, such as The British Bank of the Middle East. By the time of its centenary in 1965, HSBC had a network of 170 offices across the globe.
	144	+The second half of the 20th century was a period of great change and growth for HSBC. During the 1950s the bank closed its China network – apart from its Shanghai branch – following the establishment of the People’s Republic of China. The bank started to make its first acquisitions, such as The British Bank of the Middle East. By the time of its centenary in 1965, HSBC had a network of 170 offices across the globe.
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168	168	HSBC accelerated its transformation into a global business in 1959 when it bought The British Bank of the Middle East, a pioneer in the Gulf states. Later that year it also expanded its footprint in India with the acquisition of the Mercantile Bank.