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Non-Tech : Hong Kong & Shanghai Banking Corporation
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To: Paul Berliner who wrote (6)2/24/1999 3:21:00 AM
From: David C. Parker  Read Replies (2) of 12
 
"It is a Hong Kong bank but is based in the U.K. because the Brits used to own HK (till summer '97)."

Not true. It WAS based in HK; then it took over Midland Bank in the UK and used the opportunity to re-base itself in the UK. The primary trading location of its shares has still been HK where the combined impact of HSBC and its subsidiary Hang Seng Bank make up over 30% of the Hang Seng index. HK is still a substantial part of its business, but it has subsidiaries all over, and Midland Bank was always, of course, one of the big four British banks. It (HSBC) has a cost ratio which would be the envy of most other banks
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