HSBC is a multinational firm which works in the banking sector. HSBC is of British origin and was setup in its present form in the year 1991. The Hongkong and Shanghai Banking Corporation has its main functioning area in Hongkong and a little less work in the Shanghai.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
BNP Paribas is one of the oldest banks in the world found in the year 1860. This French multinational bank is also one of the largest banks in the world in terms of its total assets. With its presence in more than 70 countries BNP Paribas employs more than 150,000 employees globally.
Citigroup Inc. or Citi was founded in the year 1812 by merging two big giants Citicorp and Travelers group and is headquartered in Manhattan, New York city. Citibank mainly deals with investment banking and financial services.
JP Morgan Chase is a multinational financial and banking service provider. It is one of the oldest financial institutions in the US and is headquartered in New York City. With assets of $2.4 trillion JP Morgan Chase is largest bank in the United States and the sixth largest bank in the world by total assets.
4. Credit Suisse:
Credit Suisse is a Switzerland based company in financial services. Credit Suisse is a 160 years old company and is mainly divided into four divisions namely: Asset management, Investment banking, Private banking and Shared services group. In terms of research, it carries out extensive research in private banking that includes independent research in macro, bonds, equity, currency analysis and also research on Swiss Economy.
5. Bank of America:
Bank of America is a banking institution and financial services provider around the globe. It was set up as Bank of Italy in 1904 by Amadeu Gianni. It has grown multifold over the las hundred and twelve years to become one of the leading banks in the United States.
6. National Australia Bank:
The NAB bank was founded in 1982 as the National Commercial Banking Corporation of Australia Limited. Today the bank is called National Australia Bank and it is one of the biggest financial institution in Australia. It competes strongly in terms of number of customers, earnings and market capitalisation.
7. Standard Chartered:
Standard Chartered is British multinational banking and financial services company. It operates in more than 70 countries across the globe. 90% of its profits come from Asia, Africa and The Middle East.
To conclude, the above article highlights the various competitors which compete with HSBC. This understanding helps to evaluate the various external business factors for any company.
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