HSBC Group's strategy
The Group is implementing our strategy at pace across the four strategic pillars aligned to our purpose, values and ambition announced in February 2021:
Focus on our strengths: in each of our global businesses, the Group will focus on areas where we are strongest and have significant opportunities for growth.
Digitise at scale: the Group will focus its investments in areas such as technology, to improve our customers’ experience while ensuring security and resilience. These investments in technology will also help drive down costs, including through automating our middle and back offices and building solutions to free up office footprint.
Energise for growth: the Group is moving to a leaner and simpler organisation that is energised and fit for the future. The Group aims to inspire a dynamic culture and champion inclusion across our organisation, as well as help employees develop future skills.
Transition to net zero: the Group's ambition is to support the transition to a net zero global economy. The Group has set out an ambitious plan to become a net zero bank, to support customers in their transition, and to unlock new climate solutions.
HSBC in Europe
Europe is an important part of the global economy, accounting for nearly 40 per cent of global trade and one quarter of global Gross Domestic Product.
In addition, Europe is the world’s top exporter of services and second largest exporter of manufactured goods (UNCTAD, 2020). HSBC operates in 20 markets in Europe. HSBC Bank plc is responsible for HSBC’s European business (aside from United Kingdom ['UK'] retail and most commercial banking activity which, post ring-fencing, are managed by HSBC UK Bank plc), facilitating trade within Europe and to other countries where the HSBC Group has a presence. HSBC Bank plc is organised around the principal operating units detailed below:
The London hub consists of the UK non-ring fenced bank, which provides overall governance and management for the Europe region as a whole and is a global centre of excellence for wholesale banking for the Group;
HSBC Continental Europe comprises our Paris hub and its European Union (‘EU’) branches (Belgium, Czech Republic,Greece, Ireland, Italy, Luxembourg, Netherlands, Poland, Spain and Sweden). We are creating an integrated Continental European bank anchored on Paris to better serve our clients and simplify our organisation; HSBC Germany Holdings GmbH serves the EU’s largest economy and one of the leading export nations globally.
HSBC Germany’s business proposition mirrors the importance of trade and global connectivity. In February 2021, the HSBC Group completed the acquisition of 100 per cent of the shares in HSBC Germany Holdings GmbH.
About HSBC Continental Europe
The EU is home to some of the best performing, forward thinking companies, ranging from entrepreneurial start-ups to multinational corporates. The EU is also the world’s largest trading bloc set in a dynamic market of approximately 450 million consumers. Europe’s largest trade corridor is with Asia (Eurostat); and Europe–United States is the largest bilateral trade and investment relationship in the world (European Commission).
HSBC Continental Europe has a clear and focused strategy that is consistent with the HSBC Group’s strategy: building the leading international wholesale bank in Continental Europe.