| BUSINESSWEEK ONLINE : SEPTEMBER 20, 1999 ISSUE | ||||||||
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| INTERNATIONAL -- INT'L COVER STORY
HSBC's Global Reach ASIA With 39% of profits coming from Asia-Pacific, HSBC is still the region's biggest lender, although Standard & Chartered and Citigroup are catching up quickly. Offers customers from China to India managed accounts, securities trading, credit cards, insurance, and other services. EUROPE Accounts for 42.3% of profits, with most of the business through Britain's Midland Bank, which offers customers all retail banking services including insurance and investments. HSBC Investment Bank PLC handles all commercial banking and capital markets activity. NORTH AMERICA Accounts for 13% of profits. Still a minor player in the U.S. despite the planned acquisition of Republic New York and Safra Republic Holdings. HSBC aims to use Republic to build up its private banking business around the world. LATIN AMERICA Contributes 6% to group profit, even though HSBC only entered the region two years ago. Active in Brazil and Argentina, where it invested $300 million to consolidate its position and owns two insurance companies. May boost 20% stake in Mexico's troubled Banco Serfin. MIDDLE EAST Strong presence in private banking and trade finance through ownership of the British Bank of the Middle East. Controls banks in Egypt, Saudi Arabia, and Cyprus, where it launched the country's first Internet bank. DATA: COMPANY REPORTS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP |
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 RELATED ITEMS John Bond's HSBC (int'l edition) COVER IMAGE: John Bond's HSBC TABLE: HSBC's Global Reach TABLE: How HSBC Stacks Up against Global Rivals INTERACT E-Mail to Business Week Online | |||
