HSBC Bank Malaysia - Wikipedia

Malaysian subsidiary of HSBC This article is about the bank in Malaysia. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank. HSBC Bank Malaysia Berhad

Native name	馬來西亞滙豐銀行Má-lâi-se-a Hoâi-hong Gûn-hâng (Hokkien POJ) Maa5 Loi4 Sai1 Aa3 Wui6 Fung1 Ngan4 Hong4 (Cantonese Jyutping)
Formerly	Hongkong Bank Malaysia Berhad
Company type	Berhad (public limited company)
Industry	Retail and Commercial Bank
Founded	1884; 141 years ago (1884) in No.1 Downing Street, George Town, Penang
Headquarters	Menara IQ, Tun Razak Exchange, Kuala Lumpur, Malaysia
Number of locations	More than 60 branches
Area served	Worldwide
Key people	Kamaruddin Taib (Non-Executive chairman) Mukhtar Hussain (Director) Chen Kar Leng (Director) Lee Choo Hock (Director) Choo Yee Kwan (Director) Stuart Milne (CEO)
Products	Personal Financial Services, Commercial Banking, Global Banking & Markets and Islamic financial solutions.
Brands	HSBCnet, HSBC Advance, HSBC Premier
Operating income	RM 2.73 billion (2018)
Net income	RM 1.03 billion (2018)
Total assets	RM 65.7 billion (2018)
Number of employees	> 4,000
Parent	The Hongkong and Shanghai Banking Corporation Limited
Subsidiaries	HSBC Amanah Malaysia Berhad
Rating	AAA
Website	www.hsbc.com.my

HSBC Bank Malaysia Berhad (until 1999: Hongkong Bank Malaysia Berhad) is a bank headquartered in Kuala Lumpur, Malaysia. It was founded on 1 October 1984, and is a wholly owned subsidiary of HSBC.[1] The Group serves about 39 million customers worldwide from offices in 66 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Locally, HSBC Bank Malaysia Berhad serves customers with a network of over 60 branches nationwide, where about a third are the branches of its Islamic Banking subsidiary, HSBC Amanah Malaysia Berhad.

HSBC Bank Malaysia is the largest foreign-owned bank in Malaysia by asset, offers a full range of personal and commercial banking services from its network of branches and direct channels. In addition, HSBC has been offering Islamic financial services in Malaysia since August 2006 through its Islamic banking subsidiary HSBC Amanah Malaysia Berhad in Malaysia.

History

[edit]

In 1884, after the establishment of The Hongkong and Shanghai Banking Corporation Limited offices in Shanghai and Hong Kong, the bank established its third office in Penang, one of the Strait Settlements in present-day Malaysia, with permission to issue currency notes. The bank later opened its office in Malacca in 1909 and by the end of 1912, offices had opened in Ipoh, Kuala Lumpur, Johor Bahru and Kota Bharu. During the 1920s and 1930s, the bank opened more branches in several states, Sungai Petani branch in 1922, Kuantan in 1929, Muar in 1930, and Kuala Terengganu in 1936.

In East Malaysia, the first branch opened in Kota Kinabalu in 1947. Branches were set up in Sandakan and Tawau a year later, followed by Labuan in 1957. Meanwhile, in Sarawak, branches opened in Kuching in 1958 and 1964 and in Sibu in 1959.

By 1959, The Hongkong and Shanghai Banking Corporation Limited had embarked on a programme of acquisitions – including The Mercantile Bank and alliances and has network of 40 branches throughout Malaysia. Through the acquisition of The Mercantile Bank, which started operations in Malaysia in 1860, HSBC is indirectly the oldest bank in Malaysia.

Currently HSBC Bank Malaysia Berhad has a network of 40 branches nationwide.

Local incorporation

[edit]

Hongkong Bank Malaysia Berhad was incorporated on 1 October 1984. On 1 January 1994, the Malaysian branch operations of The Hongkong and Shanghai Banking Corporation were localised and transferred to Hongkong Bank Malaysia. The Hongkong and Shanghai Banking Corporation sold its Malaysian banking business to the intermediate holding company of the HSBC Group that time, but the bank still has the offshore banking unit in Labuan. Later, in conjunction with the HSBC Group's global rebranding exercise, the legal name HSBC Bank Malaysia Berhad was adopted on 23 February 1999. The bank become the subsidiary of The Hongkong and Shanghai Banking Corporation on 1 January 2009, due to the reorganization of the HSBC Group.

See also

[edit]

• HSBC (Hong Kong)

References

[edit]

1. ^ hsbc.com.my HSBC Bank Malaysia Berhad is a wholly owned subsidiary of the HSBC Group. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London.

External links

[edit]

• HSBC Bank Malaysia website
• HSBC Branches in East Malaysia
• HSBC Group website
• Company Overview of HSBC Bank Malaysia Berhad, bloomberg.com

v t e HSBC
Origin	The Hongkong and Shanghai Banking Corporation
Board of directors	Kathleen Casey Laura Cha Henri de Castries Jonathan Evans David Nish Noel Quinn Mark Tucker
Brands	HSBC Expat HSBC InvestDirect HSBC Life HSBC Premier HSBC Private Bank PayMe Proa
Principal local banks	Australia Bangladesh Bermuda Brazil Chile Mainland China Egypt Continental Europe Germany Hong Kong India Indonesia New Zealand Malaysia Malta Middle East México Monaco Philippines Poland Saudi Arabia Singapore South Korea Sri Lanka Japan Taiwan Thailand Turkey United Kingdom United States
Subsidiary banks	First Direct (UK) Hang Seng Bank (Hong Kong) (63.04%) M&S Bank (UK)
Minority stakes and JVs	Bank of Communications (19%) Canara HSBC Life Insurance (26%) HSBC Saudi Arabia (60%) SABB (40%) Techcombank (15%)
Predecessor companies	Bank of British Columbia Barclays Bank Canada Beneficial Continental Bank of Canada Crédit Commercial de France Greenwich Savings Bank Grupo Banistmo Guyerzeller Household Imperial Bank of Persia Lloyds Bank Canada Marine Midland Bank Midland Bank Republic New York Samuel Montagu & Co. Williamsburgh Savings Bank
Former local banks	Argentina Armenia Canada Costa Rica Georgia Greece Panama Russia
Former subsidiaries	Charterhouse Capital Partners HSBC Rail
Scandals	Libor scandal Swiss Leaks more
Category Commons