2000 to present day | 1980 - 1999 | 1946 - 1979 | 1900 - 1945 | 1865 - 1899 |
In April, the new Group head office in Canary Wharf in London officially opened to house some 8000 staff. HSBC's purchase of Household International Inc. added substantially to the Group's business and profile in the United States; Household’s network of over 1300 branches in 45 states provided consumer finance to 53 million customers. In France CCF agreed to increase its stake in French private bank Banque Eurofin S.A. to 83.95 per cent and to acquire two further branches of Banque Worms. HSBC also acquired Keppel Insurance Pte Ltd, a provider of life insurance and Islamic insurance in Singapore; and took full ownership of Equator Holdings Ltd.
From 2002, the HSBC identity carried the strapline of 'The world's local bank', emphasising the Group's experience and understanding of a great variety of markets and cultures. The Group also began its five-year 'Investing in Nature' programme, a partnership in environmental projects with Earthwatch, WWF and Botanic Gardens International.
HSBC acquired and recapitalized Grupo Financiero Bital in Mexico at a total cost of US$1.9 billion. This new member of the Group brought 5.5 million new customers and 1,400 branches in to the network. Elsewhere, HSBC acquired a 10 per cent share of Ping An Insurance Company of China, the second largest life insurance operator in the country.
Purchases during the year included the NRMA Building Society Limited in Australia, Demirbank of Turkey and a 97 per cent interest in China Securities Investment Trust Corporation, Taiwan’s leading asset management company. In December, the bank also took an 8 per cent share in the Bank of Shanghai which was established in 1995 and operates a network of almost 200 branches in the city. 2001 also saw the opening of the only branch in the HSBC network that is open 365 days a year - in Pune in Western India.
In April, HSBC announced a US$11 billion recommended offer for Crédit Commercial de France (CCF). Established in 1894, CCF brought into the Group a network of 650 branches in France and long experience of personal, corporate, investment and private banking, greatly strengthening HSBC’s presence in the euro zone. The deal was completed in July and in that month HSBC Holdings plc was listed on the Paris Stock Exchange for the first time.
During the year HSBC launched HSBC Premier, a new international service for HSBC’s most valuable personal customers.
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