HSBC's Restructuring in India
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Case Code: BSTR148 Case Length: 12 Pages Period: 1999-2004 Pub Date: 2005 Teaching Note: Not Available |
Price: Rs.300 Organization: HSBC India Industry: Banking Countries: India Themes: - |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
HSBC is a leading global player in the banking and financial services industry. It is the third largest bank in the world in terms of market capitalization (Refer Exhibit I for top 10 banks in the world). It provided a comprehensive range of financial services, namely, personal financial services, commercial banking, corporate investment banking, private banking and other related businesses. HSBC was established in 1865 to finance the growing trade between Europe, India and China. Scotland-born Thomas Sutherland (Sutherland), who worked for the Peninsular and Oriental Steam Navigation Company, established the bank. He found that there was considerable demand for local banking facilities in Hong Kong and on the Chinese coast. Sutherland established a bank in Hong Kong in March 1865, and another in Shanghai after a month. The banks' headquarters were at Hong Kong.
Soon, the bank opened branches around the world. The emphasis continued to be on strengthening the presence in China and the rest of the Asia-Pacific region. By the end of the century, HSBC emerged as the foremost financial institution in Asia. World War I (1914-1919), however, brought disruption and dislocation for many businesses. The 1920s saw a revival with HSBC opening more branches. During World War II (1941-1945), the bank was forced to close many branches and its head office was temporarily shifted to London. After the war, the headquarters was shifted back to Hong Kong. The post-war political and economic changes in the world compelled the bank to analyze and reorient its strategy for continued business growth. The acquisition of the Mercantile Bank and the British Bank of the Middle East (BBME) in 1959 laid the foundation for the present day HSBC Group...
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