History
The Hongkong and Shanghai Banking Corporation established its first office in what would become Malaysia in 1884 on Penang. Thereafter, it opened branches in Ipoh in 1909 followed by branches in Malacca, Johore Bahru and Kuala Lumpur in 1910. The Kota Bharu branch was opened in 1912.In the 1920s and 1930s, the Bank opened more branches in several states. The Sungai Petani branch was opened in 1922, the Kuantan branch in 1929, the Muar branch in 1930 and the Kuala Terengganu branch in 1936.
In Sabah, the first branch opened in Kota Kinabalu in 1947. Branches were set up in Sandakan and Tawau a year later, followed by Labuan in 1957.
Meanwhile in Sarawak, a branch was opened in Kuching in 1958. Another was established in Sibu in 1959, followed by a second branch in Kuching in 1964.
By 1959, The Hongkong and Shanghai Banking Corporation Limited had embarked on a programme of acquisitions - including The Mercantile Bank and alliances and has network of 40 branches throughout Malaysia. Through the acquisition of The Mercantile Bank, which started operations in Malaysia in 1860, HSBC is indirectly the oldest bank in Malaysia.
Currently HSBC Bank Malaysia Berhad has a network of 40 branches nationwide.
Read more about this topic: HSBC Bank Malaysia
Famous quotes containing the word history:
“A man will not need to study history to find out what is best for his own culture.”
—Henry David Thoreau (1817–1862)
“We said that the history of mankind depicts man; in the same way one can maintain that the history of science is science itself.”
—Johann Wolfgang Von Goethe (1749–1832)
“To care for the quarrels of the past, to identify oneself passionately with a cause that became, politically speaking, a losing cause with the birth of the modern world, is to experience a kind of straining against reality, a rebellious nonconformity that, again, is rare in America, where children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
—Mary McCarthy (1912–1989)