HSBC Continental Europe

HSBC Continental Europe, formerly known as HSBC France, is a subsidiary of HSBC, headquartered in Paris, France.

History
HSBC entered the French market in 2000 by acquiring Crédit Commercial de France (CCF), which had 650 branches and €69 billion in assets. The acquisition was finalized in July 2000, and HSBC Holdings was listed on the Paris Stock Exchange for the first time.

Through this deal, HSBC gained a strong foothold in the eurozone. CCF continued expanding, acquiring Banque Pelletier in 2000 and Banque Hervet in 2001. With CCF, HSBC also took over stakes in Lombard Bank Malta, which it sold in 2002, and sold CCF's 93.3% share in Crédit International d’Egypte, as HSBC already operated in Egypt.

In 2002, CCF acquired 11 branches from Banque Worms / Deutsche Bank. On November 1, 2005, HSBC rebranded CCF and its subsidiaries (UBP, Banque de Picardie, and Banque Hervet) as HSBC France, integrating about half of CCF’s old networks into the HSBC brand with around 380 branches.

HSBC France also had strong private banking, corporate banking, and market operations in France, especially in government bonds and euro interest rate derivatives. By 2008, HSBC sold seven regional subsidiaries with 420 branches to Banque Populaire.

On December 1, 2020, HSBC France became HSBC Continental Europe, aligning its European branches (except Malta) under one brand. The same day, it moved its Paris headquarters to 38 Avenue Kléber.

Finally, HSBC sold its French retail banking division to Cerberus Capital Management in a deal completed in January 2024.

References

Category:HSBC
Category:Banks of France