HSBC Bank Plc Is A Settlement Bank In The UK And The General Management Office Of HSBC Group In Europe. It Is Currently The Largest Bank In The UK And Europe. Its Predecessor Was Midland Bank Plc, Founded In Birmingham In 1836. Before Midland Bank Was Acquired, It Had Expanded Its Business By Opening Branches And Acquiring Other Banks, Becoming One Of The Largest Banks In The UK. As Of June 31, 2010, HSBC Europe Had Total Assets Of 1.2807 Trillion US Dollars.
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In 1987, The Hongkong And Shanghai Banking Corporation Purchased A 14.9% Stake In Midland Bank, And The Two Parties Have Established A Deep Business Relationship Since Then. In March 1992, HSBC Holdings Plc Announced Plans To Acquire The Entire Stake In Midland Bank. By The End Of April, Another Settlement Bank In The UK, Lloyds Bank, Also Said It Was Considering Acquiring Midland Bank. However, In June, HSBC Made A Final Offer For Midland Bank At A Valuation Of 3.90 Billion Pounds Sterling, Which Caused Lloyds Bank To Withdraw From The Takeover Battle. The Acquisition Was Completed In July, Making It One Of The Most Significant Acquisitions In Banking History. The Acquisition Provided HSBC With An Important Foothold In Europe To Complement Its Existing Business In Asia And The Americas.
Midland Bank Was Renamed HSBC Bank Plc In 1999 To Complement HSBC's Unified Brand. The Hongkong And Shanghai Banking Corporation Originally Had Branches In The UK. Except For The Branches Located In The General Management Office Of HSBC Group, The Rest Have Been Integrated Into The Network Of HSBC Bank Plc.
In 2002, The HSBC Tower Was Completed In London, And The Headquarters Of HSBC Bank Plc And The General Management Office Of HSBC Group Share The Building. On March 24, 2015, HSBC Holdings Plc Purchased The 210,000-square-foot Arena Central Building In Birmingham, Central England, Due To The Firewall Requirements Set Up By HSBC Bank Plc By The British Regulatory Authorities. Preliminary Preparations Will Begin In June This Year. By January 2019, 1,000 Employees Will Move To The Above Site As The New Retail Bank And Industrial And Commercial Business Headquarters. The Retail Bank Will Become An Independent Statutory Body, With Its Own Board Of Directors, And Can Only Pay Dividends To The Parent Company If It Has Sufficient Financial Resources. Global Banking And Markets (GBM), Formerly A Subsidiary Of HSBC Bank Plc And Commonly Known As "real Estate Speculators", Will Remain Within HSBC Bank Plc After The Separation And Will Be Based In London Like The Group. The New Separation Model Is Limited To UK Operations And Will Not Affect Overseas Operations (unless There Are New Regulatory Requirements). The Group's Two Current Retail Brands In The UK, Including M & S Bank Headquartered In Chester And First Direct, A Telephone Online Bank Based In Leeds, Also Operate Under Completely Separate Brands And Business Routes.
UK Operations
Currently, HSBC Bank Plc Has Approximately 327 Branches In The UK, The Majority Of Which Are Concentrated In England And Wales, With A Small Number Of Branches In Scotland And Northern Ireland. In Addition, It Has A Number Of Subsidiaries In The UK, Including:
First Direct- Telephone And Internet Banking Services Launched In 1989
HSBC Asset Finance
HSBC Invoice Finance (UK) Limited
HSBC Life (UK) Limited
HSBC Private Bank (UK) Limited
HSBC Rail (UK) Limited
HSBC Trust Company (UK) Limited
Marks And Spencer Retail Financial Services Holdings Limited - Originally Marks & Spencer Part Of Spencer
European Operations
Elsewhere In Europe, HSBC Bank Plc Has Branches In The Isle Of Man, Belgium, The Czech Republic, France, Greece, Ireland, Italy, The Netherlands, Slovakia, Spain And Sweden, Representative Offices In Cyprus And Russia, And Several Subsidiaries Including:
HSBC France
HSBC Private Bank (Suisse) SA
HSBC Jintrust Fund Management
HSBC Bank Malta Plc 70.03%
HSBC Bank A.S.
HSBC Bank A.S.
International Limited - Offshore Banking ServicesHSBC Bank Polska
HSBC Private Bank (Guernsey) Limited
HSBC Trinkaus & Burkhardt AG 80.67%
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