JERSEY, England, March 1 (UPI) -- Britain's largest bank, HSBC, is poised for further growth through its original China holdings and takeovers in other countries, the Times reports.
As HSBC embarks on its new program analysts say one likely location where the bank will expand is China. The bank's full title reflects its origins. Founded as the Hong Kong and Shanghai Banking Corp., by Thomas Sutherland, a Scot, in 1865, the bank has had operations in China and Hong Kong since before communism took hold in the country.
In many respects it was to Asia what the Rothschild's were to Europe.
Over the years the bank has also acquired holdings in Lloyds TSB in Brazil and in India's UTI Bank, in Mexico and the United States. HBSC bought the U.S. consumer credit business Household for $16.8 billion (9 billion pounds) last year.
