HSBC 2002 Annual Report Download - page 19

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Leicester during the year. Business Internet Banking,
launched in January 2002, offers customers easier
access to banking services and products.
Through access to HSBC’s international
network, HSBC Bank is a market leader in providing
trade and international banking services and is
recognised as one of the world’s largest trade finance
and service organisations. HSBC offers customers
access to its extensive local knowledge and
international expertise to simplify the processes and
reduce the risks associated with trading overseas.
The largest corporate and institutional clients are
managed through a number of specialist industry
groups to facilitate a better understanding of, and
response to, the needs of customers. Core banking
services have been aligned with investment banking
products and activities, making maximum use of
HSBC’s international network to win important
cross-border business and providing support to
clients seeking to develop internationally.
In November 2002, HSBC Bank integrated the
investment banking business of HSBC Investment
Bank following a Private Act of Parliament to enable
the required legal changes. This restructuring
supported HSBC’s key strategic aim of integrating
investment banking and commercial and corporate
banking activities.
Within institutional banking, HSBC Bank’ s
global custody division offers comprehensive global,
regional European and UK custodian services in 70
markets worldwide. Assets under custody were over
US$1,100 billion at 31 December 2002.
HSBC Bank’ s provision of comprehensive cash
management services to corporate and institutional
clients has been significantly enhanced by continued
investment in European infrastructure and through
acquisitions. These have significantly enhanced
international money transmission and payment
services provided by the bank to customers.
Electronic banking channels continue to be
developed and will be further enhanced, with the
launch of an enhanced internet-based service to
corporate customers planned for 2003. HSBC Bank
was one of the initial participants when Continuous
Linked Settlement services were launched in
September 2002 and actively uses the system to
reduce foreign exchange risk and develop new
services for institutional and corporate customers.
HSBC Bank’ s major dealing room in London
serves as the hub for HSBC’s European network of
treasury and capital markets operations, delivering a
high quality, tailored service to HSBC’s corporate,
commercial and institutional clients. The major
product areas are money markets, foreign exchange
and fixed income. These are complemented by
derivatives trading activities in exchange traded
futures and in precious metals and banknotes.
CCF
CCF is the fourth-largest non-mutual bank in France
and is HSBC’s flagship in continental Europe, with
businesses in personal, corporate and investment
banking, asset management and private banking.
Headquartered in Paris, CCF serves over one million
personal customers and major corporate and
institutional business clients. CCF has a network of
782 branches in France. At 31 December 2002,
CCF’s total assets were US$73 billion, total
customer deposits were US$26 billion and total net
customer loans were US$31 billion under UK
GAAP.
CCF’s strategy continues to focus on the fastest
growing and most profitable market segments. CCF
is a leading bank in ‘mass affluent’ personal retail
banking in France, with more than 80 per cent of its
clients concentrated in middle and upper income
brackets and 90 per cent of its branches in France
concentrated in the four regions with the highest
growth potential for banking activity: Paris, Rhône-
Alpes, Provence-Alpes-Côte d’ Azur and Languedoc
Roussillon. In corporate banking, CCF concentrates
on the most profitable high added-value segments of
the market for both large and high quality mid-sized
corporates. In asset management and private
banking, CCF has specific subsidiaries dedicated to
serving the most profitable client categories in the
highest added-value sectors.
CCF’s retail and commercial banking operations
comprise the parent company CCF, with 226
branches, and a network of ten regional banks with a
total of 556 branches. Each regional bank operates in
a specific geographical area, under its own brand
name, with strong local recognition.
CCF offers products and services through a
number of complementary distribution channels,
including online, telephone and mobile phone
banking. CCF’s online brokerage service was
launched in 1999, providing CCF customers and
non-customers alike with trading opportunities on