Thursday, September 27, 2012

The mighty HSBC

While I usually have a little knowledge about things, R trumped me when we were talking about the HSBC Bank. Its name is rather like saying PIN number that you use for your electric banking. As the the N in PIN stands for number, it is silly to say PIN number and it follows that is silly to say HSBS Bank. So just HSBS.

HSBC is the second largest company on the London Stock Exchange. We have HSBC in Melbourne and I have seen it in many parts of the world.

Oh yes, R trumped me by saying the bank has something to do with Hong Kong. He was quite correct. HSBC is the Hong Kong and Shanghai Banking Corporation. It took over the huge English bank, Midland.

I now know what HSBC stands for. I don't care to research any further.




6 comments:

  1. Hello Andrew:
    Originally having banked with the Midland, we unwittingly became customers of HSBC some years ago and have remained with them as one of the banks we are with.

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  2. I've seen signs for the HSBC and never once wondered what it stood for. I didn't even realise it was a bank. I assumed it was one of those "other" building society type not-quite-banks. Credit unions is the name I'm searching for.

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  3. Colin7:56 pm

    Andrew
    You can be assured of one thing with this banking corporation, they will win and you could do your money invested cold if, and it can happen.
    I cannot understand how a one party state, no opposition whatsover, carefully picked members, (Peoples Republic of China, PRC) which still is really communist can have so many billionaries????
    Now if you want to see corruption and what money can buy, then it comes directly from Shanghai and Beijing ( which I still prefer to call Peking).
    The ex- USSR, now in bits and pieces of other so-called "democracies" (Ukraine,Belarus etc) is the same. Billionaries galore????????? How and how come? I look foreward to answers.
    Cheers
    Colin

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  4. JayLa, if size equals soundness, and with banks it doesn't, HSBC should be sound.

    River, I thought similar, but that was a few years ago.

    Colin, many in those countries made huge amounts amount from the privatisation of public assets. Sounds just like Australia, but no one made so much money here.

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  5. I have a HSBC account, or had, not sure what happened to it. Pretty sure I didn't close it before I left London. Ha ha ha!

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  6. Fen, accumulating and compounding interest! You might be rich.

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Whenever I wish I was young again, I am sobered by memories of algebra.