Page 165 - Bank Case Studies

Timeline

1860s The bank owed its origins to the business communities of

the China coast in the 1860s.

• Transactions were handled by the European

trading houses.

• The inspiration of Thomas Sutherland, then the
Hong Kong Superintendent of the peninsular and

Oriental Steam Navigation Company.

1865 Mar The bank opened for business in Hong Kong.

• The bank is committed to local ownership and
management requiring a special arrangement for

incorporation.

• The bank’s directors persuaded the Treasury in
London to accept incorporation under a special

Hong Kong ordinance.

• The Bank established a network of agents and
branches around the world

1866 In Yokohama, Japan, a branch was opened which acted as
an adviser to the government on banking and currency.

1888 First bank to be established in Thailand, where it printed

the country’s first banknotes

1900 Branch network in Asia extended to India

• 1867, the Philippines

• 1875 and Singapore
• 1877, and to cities in what are now Malaysia,

Myanmar, Sri Lanka and Vietnam.

1992 Acquisition of Midland Bank

1993 HSBC Holdings plc required to relocate its world
headquarters from Hong Kong to London