See also
In addition to Barclays Bank of Canada, HSBC acquired the Canadian interests of other British banks, including:
| Barclays Canada |
| Location: Montreal, Quebec 1929-1956 |
| Merged with Imperial Bank of Canada in 1956 |
| Location: Toronto, Ontario 1979-1996 |
| Merged with Hongkong Bank of Canada in 1996 |
| Location: Calgary, Alberta 2010–present |
Barclays Bank has operated as a retail and commercial bank in Canada from 1929 to 1956, from 1979 to 1996, and most recently from 2010.
Barclays Bank (Canada) Limited was incorporated in Montreal, Quebec in 1929, as a joint venture between Barclays Bank Limited and Barclays Bank (Dominion, Colonial and Overseas). An office was later established in Toronto. [1]
Like the other Canadian chartered banks, it issued its own banknotes. The Bank of Canada was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency. In 1956, Barclays Bank (Canada) was acquired by Imperial Bank of Canada, a predecessor of the Canadian Imperial Bank of Commerce, for 10% of the capital of Imperial. H.A. Stevenson was president of the bank from at least 1935 until 1950; his signature appears on one of the last currency issues by Barclays Bank (Canada) [2] and he is quoted speaking at an annual general meeting of the bank in 1950. [3]
The holding company, Barclays Canada Limited, which had been set-up in 1927 to meet the requirements of Canadian law in relation to foreign ownership, remained. In 1974, it was reopened to deal in the wholesale banking market. In 1979, foreign banks were allowed to receive charters and London-based Barclays Bank established a new Canadian subsidiary, Barclays Bank of Canada (French : Banque Barclays du Canada). It was reorganised into commercial banking and corporate banking divisions in 1989, and bought by Hongkong Bank of Canada (HBC) in 1996. [4] In 1999, HBC changed its name to HSBC Bank Canada, consistent with its parent's strategy of creating a global brand. [5]
A non-banking subsidiary, Barclays Global Investors Canada Ltd., administers iShares and exchange-traded index funds. In 2010, Barclays Bank again applied for the right to open branches in Canada. [6] The current operation, providing services to investment banking clients, is licensed by the Office of the Superintendent of Financial Institutions to carry on business as a foreign bank branch in Toronto and Calgary under the name Barclays Bank Plc, Canada Branch. In time, it is expected to offer full-service loans, sales, trading and research platform through Barclays Capital Canada Inc..
In addition to Barclays Bank of Canada, HSBC acquired the Canadian interests of other British banks, including:
The Canadian Imperial Bank of Commerce is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, in the largest merger between chartered banks in Canadian history. It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.
HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023.
Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than 100,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.
HSBC Bank Canada, formerly the Hongkong Bank of Canada (HBC), was a British-Canadian chartered bank and the former Canadian subsidiary of British multinational banking and financial services company HSBC.
Lloyds Bank Canada was a wholly owned Canadian subsidiary of Lloyds Bank Plc of the United Kingdom from 1986 to 1990. Its headquarters were in Toronto, and it had 53 branches throughout Canada. It functioned as a member of the Lloyds Bank Group, whose overseas domestic banking interests also included the National Bank of New Zealand.
HSBC Bank Malta plc is the Maltese subsidiary of the British multinational banking and financial services company HSBC. The company is headquartered in Qormi and operates over 12 branches and offices throughout the islands of Malta and Gozo. HSBC Bank Malta is part of the European region within HSBC and therefore reports to HSBC Bank plc.
The Hongkong and Shanghai Banking Corporation Limited, commonly abbreviated as HSBC and formerly known as HongkongBank, is the Hong Kong–based Asia-Pacific subsidiary of the HSBC banking group, for which it was the parent entity until 1991. The largest bank in Hong Kong, HSBC operates branches and offices throughout the Indo-Pacific region and in other countries around the world. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar.
The Banque Belge pour l'Étranger was a Belgian bank that channeled many international banking operations of its controlling shareholder the Société Générale de Belgique (SGB) in the first half of the 20th century. It was originally established by the SGB in 1902 in Brussels as the Banque Sino-Belge, at the request of King Leopold II of Belgium.
HSBC Bank Australia Limited is the Australian subsidiary of HSBC. The bank offers a wide range of financial services in Australia through a network of 36 branches and offices. These services include retail and commercial banking, financial planning, trade finance, treasury, and financial markets, payments and cash management, and securities custody.
HSBC Bank USA, National Association, an American subsidiary of the British banking group HSBC, is a bank with its operational head office in New York City and its nominal head office in Tysons, Virginia. HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, and thus is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury. The company has 22 branch locations.
HSBC Bank Malaysia Berhad was incorporated locally in Malaysia on 1 October 1984. It is part of the HSBC Group and is a wholly owned subsidiary of HSBC Holdings plc, headquartered in London. The Group serves about 39 million customers worldwide from offices in 66 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Locally, HSBC Bank Malaysia Berhad serves customers with a network of over 60 branches nationwide, where about a third are the branches of its Islamic Banking subsidiary, HSBC Amanah Malaysia Berhad.
Saudi Awwal Bank is a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake. The bank traces its origins to the British Bank of the Middle East which was acquired by HSBC in 1959. In response to restrictions on foreign ownership of banks in Saudi Arabia, Saudi Arab British Bank (SABB) was created in 1978 to manage HSBC branches and assets in the country.
HSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East.
The Big Four is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained relevance. Some countries include more or fewer institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six.
National Bank of Egypt is a bank founded in Egypt in June 1898, and is the country's largest bank (2013) in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.
Republic Bank Limited is a Caribbean financial institution headquartered in Trinidad and Tobago. It has operations in Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Guyana, St. Kitts and Nevis, Saint Lucia, St. Maarten, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago. It was formerly a division of Barclays Bank in Trinidad and Tobago.
HSBC Bank (China) Company Limited was one of the first foreign banks to incorporate locally in mainland China in 2007. It is part of the worldwide HSBC Group and is wholly owned by Hong Kong–based HSBC.
International Westminster Bank was a wholly-owned subsidiary of National Westminster Bank and its predecessors from 1913 to 1989, with branches in London, France, Spain and West Germany.
National Westminster Bank of Canada, commonly known as NatWest Canada, was a wholly owned subsidiary of National Westminster Bank, a global integrated financial service group based in the United Kingdom, which operated from 1982 to 1998.
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