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Email this10:04 am
December 12, 2008
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HSBC down to 1.75% 🙁
djino
11:42 am
March 25, 2009
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Noooooooooooo!
Damnit. Might as well move the money to ATB then. HSBC just layed off 1,200 people (or was it 12,000?) in the UK, who knows if this bank is going to go under.
Mike
Have a great day
9:30 pm
December 12, 2009
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Globally, HSBC Group is one of the strongest, best capitalized, non-government owned financial institutions in the world. It's probably the safest bank in which to put your money. In addition, it's also the world's biggest financial institution in terms of assets. All of the Big Five Canadian banks are incredibly strong and among the world's strongest and HSBC is even stronger than them - combined. So, basically, as I often tell friends and colleagues, if HSBC Group were to fail, that would mean every other bank in the world would've failed.
The only trouble HSBC has experienced has been with HSBC Finance's Consumer Lending Unit in the United States, which they are now winding down. It's important to note that HSBC Finance is a non-bank lending institution and was such a small contributor to HSBC's revenue globally that it hardly had any affect on HSBC's profits, revenue and capitalisation. It used to be Household Finance, for those of you that may know that name better. All the rest of HSBC is incredibly healthy and don't take my word for it, read the 2008 annual reports and audited financial statements.
Cheers,
Doug
2:43 am
Best bank is somewhat subjective as one could ask "Best for what?" In terms of assets, bigger banks tend to make the list simply because of shear size alone, but are bigger more profitable banks necessarily better? What about in terms of customer service, customer satisfaction, and other non tangible ways that are harder to quantify, but are mainly what we as depositors are interested in?
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Having said that, here is a link to one site's opinion of "Best banks" in terms of safety which I believe is generally what this forum is concerned about:
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http://seekingalpha.com/articl.....ks-in-2009
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Remember too that if you look on lists from previous years, you can also find that yesterdays best can be next years' losers.
Please write your comments in the forum.