Pest Analysis - Hsbc Holding Plc

2038 WordsNov 7, 20129 Pages
A PEST Analysis Report of HSBC Introduction HSBC holding plc is a global banking and financial services company headquartered in London, United Kingdom. The business of HSBC includes personal financial services (retail banking), commercial banking, global banking and markets (investment banking), and private banking. HSBC holding was founded in 1991 by the Hongkong and Shanghai Banking Corporation. The bank’s first branches were original opened in Hong Kong and Shanghai in 1865. HSBC lists on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. In 2010, the total revenue of HSBC is 98.918 billion US dollars, with more than 13 billion US dollars profit. (HSBC, 2011) According to the Forbes magazine (2011), HSBC is the…show more content…
Socio-cultural Environment Business exists to serve the needs and wants of people. Therefore people, or rather customers are significant for every business enterprise. HSBC have paid many attentions on this, the advertising statement ‘the world’s local bank’ has been being announced since 2002. People living in different regions, countries, or communities have their own culture backgrounds, sometimes their attitudes may be influenced by their culture. For example, the Chinese tend to save their money rather than spend them, in 2007, gross national saving of China was 54.1%, while the figure was 15.6% in the UK (Ma and Wang, 2010), for HSBC, high saving ratio means that its retail banking services could benefit from it. Therefore, in 2006, after many years struggling with the Chinese government, HSBC was allowed to receive deposit from public in China. (PwC, 2010) In the context of Financial Crisis, banks like HSBC are facing some new challenges -- people are less trusting of banks and the public now see banks as powerful and greedy organizations who messed up society. Therefore people may put more pressure on governments to impose more taxes from banks. One example can

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