HSBC are the world’s largest banking group (since 2005) and are a reputable banking brand.
Compared to its main rivals, in times of financial crisis HSBC continues to lead its conventional strategy aimed at risk-averse approach to manage business operations. HSBC group is solid and well-acclaimed banking operator that smartly manages worldwide assets, sales and market value, and therefore is ranked as the world’s most profitable bank. HSBC success is also to the Group’s strong presence on international lead financial markets with the significant business shares therein.
HSBC multinational banking and financial operations are backed up by 330.000 employees working in 85 countries, 210.000 shareholders, and 128 m. customers worldwide. These figures indicate the unprecedented international presence of HSBC.
HSBC runs a number of operative systems to assure its global successfulness. In particular, HSBCnet is the Group’s global service that coordinates local business needs and offers functional services to the operating spots worldwide. At that, both corporate and individual customers obtain access to banking transactions, trade services, exchange operations and money trading services. In addition to this, HSBCnet is widely applied as the marketing tool to promote the Bank’s e-commerce services.
At present, HSBC mainly focuses on the four main areas of operation:
Recently, the Group has faced a number of challenges. The most controversial are associated with HSBC technical management. Its inappropriateness led to customer data leak, though the missing data did not produce the scandalous effect overall. Last year, many students protested against HSBC withdrawal of interest-free overdrafts, though eventually the suffered charges were fully repaid by the Group. These challenges prove that any, even the largest banking group, may become subject to threat, though the successful management of critical situation has always been a particular feature of HSBC worldwide operation.
In the coming future, HSBC will concentrate on the strategic and prioritized areas of its worldwide operation with the further emphasis on HR management strategies and technologically-advanced applications within the group. Namely there two factors enable HSBC to provide top-quality services and win more international markets. Specifically, new security systems will be operated to avoid further leaks of information. More than 330.000 staff permanently requires a solid ground for professional improvement and therefore HSBC will further expand professional training and development programs for its employees.
In light of the ongoing financial crisis, HSBC is not going to apply the £25b. Fund unveiled by the UK government to save the country’s banking system. This approach is entirely different from those currently led by the Group’s from its main rivals. Conversely, HSBC intends to lend £750 m. to reinforce the UK capital base. With this purpose, over the last four years the bank has provided loans to help other UK banks.
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