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HSBC Bank USA of New York, with assets of US$87 billion, and HSBC Canada, with assets of Can$34 billion, share some operating resources but remain separate units. On June 1, 2004, HSBC Bank Canada completed its acquisition of Intesa Bank's Canadian unit, which had 11 branches and total assets of Can$1.1 billion.
It was chartered in 1982 and acquired by Hongkong Bank of Canada, a subsidiary of HSBC Holdings, pursuant to statutory amalgamation agreements in 1998. [1] At the time, net assets were CAN$107m. [2] The following year, HBC became HSBC Bank Canada, consistent with their strategy of creating a global brand.
United Empire Bank of Canada: 1906 1911 Founded as the Pacific Bank of Canada before renaming in 1906. Merged into the Union Bank of Canada. [174] Unity Bank of Canada: 1972 1977 Failed and merged into the Provincial Bank of Canada. [175] Western and Pacific Bank of Canada 1982 1988 Merged with the Bank of Alberta to form the Canadian Western Bank.
TORONTO (Reuters) -Canadian regulators will review the sale of HSBC's business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, the Canadian government's finance ...
HSBC Holdings plc (Chinese: 滙豐; initialism from its founding member The Hongkong and Shanghai Banking Corporation) is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint.
HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued at around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion).
HSBC is exploring selling its Canada business as it resists calls from its biggest shareholder to split the bank in two.
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