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Global 500

Xaume Olleros — Bloomberg via Getty Images

68

HSBC Holdings

HSBC

Britain

HSBC is slashing thousands of jobs in an effort to reignite its growth. The U.K.-based bank launched a plan in early 2016 to refocus its operations on Asia. The idea is that the bank will get higher growth outside of Europe, where HSBC and other big banks have struggled. Europe’s economy has been sluggish for the past few years. On top of that, low interest rates have crunched how much money banks can make lending in Europe. The bank said in mid-2016 that it expected to eliminate 8,000 worldwide, but could add to that number. And with Brexit only adding to the uncertainty for European banks that number is sure to grow.

CEO

Stuart T. Gulliver

Sector

Financials

Industry

Banks: Commercial and Savings

HQ Location

London, Britain

Employees

264,000

Years on Global 500 List

22

Figures prepared in accordance with International Accounting Standards.
Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$89,061-5.7%
Profits ($M)$13,522-1.2%
Assets ($M)$2,409,656
Total Stockholder Equity ($M)$188,460
Profit Ratios
Profit as % of Revenues15.2%
Profits as % of Assets0.6%
Profits as % of Stockholder Equity7.2%
STOCK QUOTE
()0.00 0.00 (0)
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  • Market Cap: NaNB
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  • 52 Week Change %: 0.00
  • P/E Ratio: n/a
  • EPS:
  • Dividend Yield: n/a

News about HSBC Holdings

HSBC Shares Jump After the Bank Reports Rising Profits From Asia

The lender is planning a hiring spree for its Asian wealth-management business.

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HSBC Could Become the First Foreign Company to List Shares in China

An HSBC listing would be a boost for Chinese authorities, who have watched their benchmark index fall more than 20% this year.

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Videos about HSBC Holdings

HSBC to cut 50,000 jobs worldwide

The banking giant plans to cut an estimated 50,000 jobs by 2017 as is strives to reduce costs.

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What the new Indian government can do to attract investors

Naina Lal Kidwai, executive director of HSBC, talks to Fortune's Nina Easton about India's new Prime Minister, Narendra Modi.

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