 | |
| Company type | Subsidiary of HSBC Holdings plc |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1996 |
| Defunct | 2024 |
| Headquarters | Moscow, Russia |
Key people | Gregory Garnier, CEO |
| Products | Financial services |
| Website | hsbc |
OOO HSBC Bank (RR) (Russian: ООО Эйч-эс-би-си Банка (РР); commonly referred to as HSBC Russia) was a subsidiary of HSBC Holdings plc, headquartered in Moscow, Russia. The bank provided personal banking and corporate banking services. In 2024, Expobank acquired HSBC Russia.
HSBC established its presence in Russia in 1996, focusing primarily on corporate banking services to support international businesses operating in the country after the dissolution of the Soviet Union.
In 2009, HSBC Russia expanded its operations by launching retail banking services, opening its first retail branch in Russia with the aim of offering a comprehensive range of financial products to individual consumers. [1]
In 2011, HSBC agreed to sell parts of its Russian retail banking business to Citibank as part of plans announced earlier in the year to focus on commercial and wholesale banking in Russia, citing the challenging economic environment and the need to focus on more profitable areas of its business. The bank closed its retail operations, sold four branches in Moscow and one in Saint Petersburg, and reduced its private banking presence to a representative office, while continuing to provide services to corporate clients. [2] The gross asset value of the businesses to be sold was approximately 305.8 million Russian rubles as of March 2011. [3]
In June 2022, amid increasing geopolitical tensions and economic sanctions following the Russian invasion of Ukraine, HSBC declared its intention to sell its Russian business. The bank sought approval from the Government of Russia for the sale, anticipating a projected loss of $300 million US dollars from the exit. [4]
In February 2024, Russian President Vladimir Putin authorized the sale of HSBC's Russian unit to Expobank, a Russian lender owned by entrepreneur Igor Kim. [5] The transaction was completed in May 2024, marking HSBC's full exit from the Russian market after nearly three decades of operation. [6]
In November 2024, HSBC ceased processing all payments from Russia and Belarus for its personal banking customers, aligning with the broader trend of international banks withdrawing from Russia due to financial sanctions imposed after the invasion of Ukraine. [7]
Citigroup Inc. or Citi is an American multinational investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank, and Travelers; Travelers was spun off from the company in 2002.
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.
Citibank, N.A. is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation. Citibank was founded in 1812 as City Bank of New York, and later became First National City Bank of New York. The bank has branches in 19 countries. The U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.
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.
GE Capital was the financial services division of General Electric. Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial. Ultimately, only one division of the company remained, GE Energy Financial Services, which was transferred to GE Vernova when General Electric was broken up.
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.
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.
HSBC Continental Europe, known until December 2020 as HSBC France SA, is a subsidiary of HSBC, headquartered in Paris.
HSBC UK Bank plc is a British multinational banking and financial services organisation based in Birmingham, England. It is a wholly owned subsidiary of the global HSBC banking and financial group, which has been headquartered in London since 1993. The UK headquarters of HSBC is located at One Centenary Square in Birmingham.
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 Brasil S.A. - Banco Múltiplo is subsidiary of Banco Bradesco in Brazil.
Citibank Singapore Limited is a division of Citibank N.A. of the United States and incorporated in Singapore on 28 June 2004. Its parent was awarded Qualifying Full Bank (QFB) status on 20 October 1999, and this status was transferred to the Singapore division on the day of its incorporation. The bank has a shared automated teller machine (ATM) network with HSBC, State Bank of India, Maybank, The Royal Bank of Scotland, Bank of China, and Standard Chartered Singapore called atm5.
HSBC Trinkaus & Burkhardt AG, operating as HSBC Deutschland, is a German financial services company. It traces its history back to 1785 and is one of the longest-established members of the HSBC Group. HSBC in Germany has operations in private, commercial and investment banking and asset management. HSBC has announced it would transfer ownership of HSBC Trinkhaus from UK-based HSBC Bank plc to Paris-based HSBC Continental Europe then to convert it into a branch of HSBC Continental Europe by end-2023.
HSBC Bank Argentina S.A. was the principal HSBC operating company in Argentina. It was the seventh-largest bank in the country, it provided a full range of banking and financial products and services, including commercial, consumer and corporate banking, to over 1.2 million customers. In April 2024, HSBC reached an agreement to sell its banking operations in Argentina to Banco Galicia. The re-brand process took about 12 months.
HSBC Bank Middle East Limited is the largest and most widely represented international bank in the Middle East.
Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity stretching back to its first foundation as Istituto Bancario San Paolo di Torino in 1583.
Citibank Philippines is the Philippines branch of Citibank. In July 1902, the International Banking Corporation, a predecessor to Citibank, opened its first branch in Manila. It was the largest commercial bank in the Philippines.
Raiffeisen Bank International (RBI) is a key entity of the decentralized Raiffeisen Banking Group in Austria, acting both as the latter's domestic central financial entity and as the holding company for all the group's operations outside of Austria. The bank is listed on the Wiener Börse. Its major shareholders are the Raiffeisen Banking Group's eight regional banks (Raiffeisen-Landesbanken), which are bound by a shareholders' agreement and together hold a majority of RBI's equity.
Expobank JSC is a Russian commercial bank headquartered in Moscow. It was founded in 1994 and is a subsidiary of Expobank LLC, which is registered in Cyprus. The bank offers a range of financial services, including corporate and retail banking, investment banking, and asset management.
HSBC Continental Europe, Greece, commonly referred to as HSBC Greece, was a subsidiary of HSBC Continental Europe, headquartered in Athens, Greece. The bank provided personal banking and corporate banking services. In 2022, Pancreta Bank acquired HSBC Greece.
| Origin |  | |
|---|---|---|
| Board of directors | ||
| Brands | ||
| Principal local banks | ||
| Subsidiary banks | ||
| Minority stakes and JVs |
| |
| Predecessor companies |
| |
| Former subsidiaries | ||
| Scandals | ||
