HSBC Bank Malaysia
Encyclopedia
HSBC Bank Malaysia Berhad was incorporate locally in Malaysia in 1994. It is part of the HSBC Group
and is wholly owned by Hong Kong
-based The Hongkong and Shanghai Banking Corporation Limited.
Besides, HSBC has been offering Islamic financial services in Malaysia since 1994. In 2007, the bank established its Islamic banking
subsidiary HSBC Amanah Malaysia Berhad.
The Hongkong and Shanghai Banking Corporation established its first office in what would become Malaysia in 1884 on Penang
. Thereafter, it opened branches in Ipoh
in 1909 followed by branches in Malacca
, Johore Bahru and Kuala Lumpur
in 1910. The Kota Bharu
branch was opened in 1912.In the 1920s and 1930s, the Bank opened more branches in several states. The Sungai Petani branch was opened in 1922, the Kuantan branch in 1929, the Muar branch in 1930 and the Kuala Terengganu branch in 1936.
In Sabah, 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, a branch was opened in Kuching in 1958. Another was established in Sibu in 1959, followed by a second branch in Kuching in 1964.
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.
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
and is wholly owned by Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
-based The Hongkong and Shanghai Banking Corporation Limited.
Malaysian banking
HSBC Bank Malaysia is the largest foreign-owned bank in Malaysia, offers a full range of personal and commercial services from a network of branches and direct channels. The bank has a network of 40 branches nationwide.Besides, HSBC has been offering Islamic financial services in Malaysia since 1994. In 2007, the bank established its Islamic banking
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
subsidiary HSBC Amanah Malaysia Berhad.
History
Penang
Penang is a state in Malaysia and the name of its constituent island, located on the northwest coast of Peninsular Malaysia by the Strait of Malacca. It is bordered by Kedah in the north and east, and Perak in the south. Penang is the second smallest Malaysian state in area after Perlis, and the...
. Thereafter, it opened branches in Ipoh
Ipoh
Ipoh is the capital city of Perak state, Malaysia. It is approximately 200 km north of Kuala Lumpur on the North-South Expressway....
in 1909 followed by branches in Malacca
Malacca
Malacca , dubbed The Historic State or Negeri Bersejarah among locals) is the third smallest Malaysian state, after Perlis and Penang. It is located in the southern region of the Malay Peninsula, on the Straits of Malacca. It borders Negeri Sembilan to the north and the state of Johor to the south...
, Johore Bahru and Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
in 1910. The Kota Bharu
Kota Bharu
Kota Bharu is a city in Malaysia, is the state capital and Royal City of Kelantan. It is also the name of the territory in which Kota Bharu City is situated. The name means 'new city' or 'new castle/fort' in Malay. Kota Bharu is situated in the northeastern part of Peninsular Malaysia, and lies...
branch was opened in 1912.In the 1920s and 1930s, the Bank opened more branches in several states. The Sungai Petani branch was opened in 1922, the Kuantan branch in 1929, the Muar branch in 1930 and the Kuala Terengganu branch in 1936.
In Sabah, 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, a branch was opened in Kuching in 1958. Another was established in Sibu in 1959, followed by a second branch in Kuching in 1964.
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.