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Not all of it just a couple of their regional subsidiaries. They're the 8th largest bank in the world, just under BNP Paribas and Citigroup.

HSBC is a British bank with most of the profits being made in Asia (specifically Hong Kong). They may be selling off their unprofitable subsidiaries but the UK operations are pretty stable.

> HSBC is a British bank with most of the profits being made in Asia (specifically Hong Kong)

Funnily that's where their name comes from - Hongkong and Shanghai Banking Corporation Limited, HSBC for short (it's now the official name, HSBC does no longer stand for anything, probably to lessen the obvious imperialistic past in it's name).

The full name is still printed on most of our banknotes (alongside Bank of China and Standard Chartered who issue a smaller number of notes). I think it's just the parent company who deleted the original meaning.

IIRC, it stopped standing for anything when they moved the HQ to London in the 90s (following the takeover of Midland Bank), and it became HSBC Holdings plc.

It's sold to MyMoneyBank, formerly known as GE Moneybank... not exactly local :)