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  • Previous Rank81
  • Revenues ($M)$89,061
  • Revenue Percent Change-5.7%
  • Profits ($M)$13,522
  • Profits Percent Change-1.2%
  • Assets ($M)$2,409,656
  • Employees264,000

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.

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Company Information

CEO
Stuart T. Gulliver
Sector
Financials
Industry
Banks: Commercial and Savings
HQ Location
London, Britain
Employees264,000
Websitehttp://www.hsbc.com
Years on Global 500 List22
Figures prepared in accordance with International Accounting Standards.

HSBC Holdings Rank History

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%