HSBC in Thailand

HSBC initially opened for business in Thailand in 1888 and has been serving Thai people for 13 decades. It was the first commercial bank in Thailand.

HSBC has made significant contributions to the establishment of solid foundations for Thailand’s financial and banking sectors. For example, in 1889 HSBC issued the first banknotes in Thailand. HSBC also issued the first foreign loan to the Thai government for its railroad construction project. HSBC has always been a major driving force behind Thailand’s commerce and economy.

Throughout the past 130 years HSBC has based its standard services on an in-depth local knowledge and a true recognition of the Thai people’s changing needs. HSBC is committed to its goal to be the best bank and a key driving force for the Thai economy and Thai society.

Today, HSBC provides a comprehensive range of financial and banking services to corporate customers.

History timeline

1888 – The first step in Thailand
 

HSBC was established as the first commercial bank in Thailand on 2 December 1888 as Hongkong and Shanghai Banking Corporation during the reign of King Chulalongkorn. Its first office was located at “the old Belgian Consulate” on Charoenkrung Road.

1889 – Introduced first banknotes
 

The bank introduced the first banknotes into Siam in 1889 with the permission of Siamese authorities. The currency notes were issued in denomination of one, five, 10, 80, 90 and 100 ticals (baht) which were used widely to pay debts and taxes among customs officials and other government offices. When the Bank of Thailand issued its own banknotes in 1902, the amount of the Bank’s banknotes in circulation decreased gradually.

1890 – Moving to “Tanam Si Phraya”
 

In 1890, the bank moved to a Roman-style building, known today as Tanam Si Phraya, which was also the site of a luxury hotel called The Oriental for 87 years. The office building was declared officially open by HRH Prince of Chandaburi, then the Minister of Finance.

1905 - Siam's first foreign loans
 

The first public overseas loan to the Siamese government was issued in 1905 for the announced purpose of railway construction. The government, under the advice of a British financial expert, wished to retain a minimum treasury balance of 22 million baht. Railways were of a high priority in the unification and centralization of the Kingdom, and therefore the decision was made to borrow abroad.

The Siamese Ambassador in Paris approached two banks – one British, HSBC, and one French, Banque de I'Indo-Chine, the French and British issued bonds were to rank pari passu and the loan was issued in both London and Paris in March 1905. The actual signing of the agreement was celebrated with a dinner at the Savoy for 20 people including the Siamese Ambassador to Paris, Phraya Suriyanuwatr.

1977 – Moving to Siam Center
 

In 1977, the Bank moved from Tanam Si Phraya to Siam Center Department Store.

1982 – Moving to HSBC Building on Silom
 

In 1982, the Bank moved to the HSBC Building on Silom road for 20 years until 2001.

2001 – Moving to HSBC Building on Rama IV
 

On 9 February 2001, the bank moved to its current location of the HSBC Building on Rama IV road.

Financial information

2018

December English PDF 653.58 KB

November English PDF 144.47 KB

October English PDF 192.83 KB

September English PDF 68.22 KB

August English PDF 94.38 KB

July English PDF 184.96 KB

June English PDF 953.23 KB

May English PDF 185.72 KB

April English PDF 144.12 KB

March English PDF 74.38 KB

February English PDF 54.20 KB

January English PDF 145.20 KB

2017

December English PDF 611.62 KB

November English PDF 145.54 KB

October English PDF 144.76 KB

September English PDF 1.25 MB

August English PDF 143.97 KB

July English PDF 1.44 MB

June English PDF 1.58 MB

May English PDF 82.42 KB

April English PDF 84.13 KB

March English PDF 1.58 MB

February English PDF 22.25 KB

January English PDF 142.50 KB

2016

December English PDF 581.57 KB

November English PDF 143.70 KB

October English PDF 144.97 KB

September English PDF 576.73 KB

August English PDF 142.86 KB

July English PDF 65.42 KB

June English PDF 1.59 MB

May English PDF 141.12 KB

April English PDF 145.43 KB

March English PDF 670.53 KB

February English PDF 54.53 KB

January English PDF 146.54 KB

2015

December English PDF 780.35 KB

November English PDF 141.02 KB

October English PDF 143.25 KB

September English PDF 542.69 KB

August English PDF 147.58 KB

July English PDF 147.94 KB

June English PDF 925.23 KB

May English PDF 151.92 KB

April English PDF 146.96 KB

March English PDF 253.18 KB

February English PDF 149.07 KB

January English PDF 135.18 KB

2014

December English PDF 193.10 KB

November English PDF 151.49 KB

October English PDF 148.66 KB

September English PDF 377.26 KB

August English PDF 310.20 KB

July English PDF 251.82 KB

June English PDF 588.85 KB

May English PDF 250.75 KB

April English PDF 249.97 KB

March English PDF 480.04 KB

February English PDF 254.75 KB

January English PDF 250.93 KB

2013

December English PDF 403.99 KB

November English PDF 256.33 KB

October English PDF 253.86 KB

September English PDF 455.16 KB

August English PDF 258.56 KB

July English PDF 261.55 KB

June English PDF 362.91 KB

May English PDF 259.68 KB

April English PDF 322.13 KB

March English PDF 2.68 MB

February English PDF 320.05 KB

January English PDF 326.49 KB

2012

December English PDF 406.72 KB

November English PDF 328.77 KB

October English PDF 325.15 KB

September English PDF 324.68 KB

August English PDF 258.56 KB

July English PDF 325.82 KB

June English PDF 321.07 KB

May English PDF 326.91 KB

April English PDF 324.13 KB

March English PDF 356.10 KB

February English PDF 325.42 KB

January English PDF 328.35 KB

2011

December English PDF 342.44 KB

November English PDF 13.58 KB

October English PDF 13.63 KB

September English PDF 296.69 KB

August English PDF 13.53 KB

July English PDF 13.44 KB

June English PDF 479.43 KB

May English PDF 13.55 KB

April English PDF 19.98 KB

March English PDF 877.11 KB

February English PDF 20.46 KB

January English PDF 14.27 KB

2010

December English PDF 14.40 KB

November English PDF 14.41 KB

October English PDF 14.83 KB

September English PDF 14.85 KB

August English PDF 14.42 KB

July English PDF 14.01 KB

June English PDF 626.43 KB

May English PDF 14.46 KB

April English PDF 14.46 KB

March English PDF 331.96 KB

February English PDF 14.03 KB

January English PDF 14.48 KB

2009

December English PDF 14.44 KB

November English PDF 13.98 KB

October English PDF 14.37 KB

September English PDF 321.84 KB

August English PDF 14.40 KB

July English PDF 14.31 KB

June English PDF 276.73 KB

May English PDF 14.28 KB

April English PDF 13.85 KB

March English PDF 13.84 KB

February English PDF 13.87 KB

January English PDF 13.82 KB


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HSBC Group history timeline

1865
 
2019

Hong Kong harbour, Chinese artist, early 1860s

Staff in Fuzhou, China, 1887

Portrait of Thomas Jackson, around 1890

Chinese railway bond certificate, 1907

Staff in military uniform, First World War

Hong Kong building, 1965

Prison camp diary of HSBC staff member Max Haymes, 1943

Hong Kong garment factory, around 1950

Persian banknote, early 20th century

UK cash machine, around 1970

HSBC office, New York, 1999

HSBC lion, London, present day

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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles.

By 1875 HSBC was present in seven countries across Asia, Europe and North America. It financed the export of tea and silk from China, cotton and jute from India, sugar from the Philippines and rice and silk from Vietnam.

By 1900, after strong growth under Chief Manager Thomas Jackson, the bank had expanded into 16 countries and was financing trade across the world. Bullion, exchange and merchant banking were important features of the bank’s business.

In the early 20th century, HSBC widened the scope of its activities in Asia. It issued loans to national governments to finance modernisation and infrastructure projects such as railway building.

The First World War brought disruption and dislocation to many businesses. By the 1920s, however, Asia was beginning to prosper again as new industries developed and trade in commodities such as rubber and tin soared.

The 1930s brought recession and turmoil to many markets. Nonetheless, HSBC asked architects Palmer and Turner to design a new head office in Hong Kong: “Please build us the best bank in the world.” The cutting-edge art deco building opened in 1935.

The bank faced one of its most challenging times during the Second World War. Staff in Asia showed huge courage in the face of adversity. Many became prisoners of war. Only the London, Indian and US branches remained in full operation.

At the end of the war, HSBC took on a key role in the reconstruction of the Hong Kong economy. Its support helped established manufacturers as well as newcomers to Hong Kong grow their business.

By the 1970s the bank had expanded through acquisition. HSBC bought Mercantile Bank and The British Bank of the Middle East in 1959. In 1972 it formed a merchant banking arm, extending its range of services.

In the 1980s HSBC bought Marine Midland Bank in the US. In 1992, the newly created HSBC Holdings plc made a recommended offer for full ownership of the UK’s Midland Bank. Following the acquisition, HSBC moved its headquarters to London.

In 1998, the bank announced it would adopt a unified brand, using HSBC and the hexagon symbol everywhere it operated.

As new markets blossom and flourish, HSBC continues to be where the growth is, connecting customers to opportunities. The bank enables businesses to thrive and economies to prosper, helping people fulfil their hopes and dreams and realise their ambitions.

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