The Hang-Seng Banking Corporation
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The Hang-Seng Banking Corporation was originally a division of the International Imperial Investment Bank. However, after making huge profits with that corporation, a conglomerate of private investors decided to sell their shares, and start up a rival bank. However the Hang-Seng bank would be strictly a profit bank. The Hang-Seng Banking corporation is better known as HSBC.
The Hang-Seng Banking Corporation has put itself as the foremost private bank in the Arch-Imperium. Though the IIIB does offer similar banking, the HSBC has one thing that the IIIB does not: Absolute Confidentiality.
Absolute Confidentiality
This principle is used to protect bank clients from any type of government investigation. Under the Banking Confidentiality Act, the HSBC was able to ensure that all transactions within the bank were kept strictly confidential under absolute circumstances. Not even orders from the Emperor could reveal the information, at least legally, within the Bank's own archives. Its own operations are highly automated and high-tech to disallow human contact with records. This allows maximum confidentiality under all circumstances. As a public and central bank, the IIIB cannot afford this type of policy.
Function
The HSBC is the foremost private bank that offers private functions. It does not do monetary functions which are normally the issue of the IIIB. The HSBC does huge national businesses internally but has little in the international market. In terms of banking, the IIIB does less private banking, but is responsible for monetary funds, government loans and interest rates. However, the HSBC does purely commercial private banking and in addition, since it is not under the taxpayer payment system, it is entirely reliant on profit, which means it is entirely private. A Private bank is not under any obligation by the government to reveal its own internal spending or the accounts of the customers.
International Ambitions
The HSBC is seeking expansion. With its investments and the attraction of its confidentiality agreements, it can hold substantial assets for clients without fear of those assets being disclosed to external sources. The HSBC's confidentiality appeals to the international market as well as its good employment record. Workers within the HSBC infrastructure are well paid and their benefits are substantial. Stock options, medical/dental plans, and conpensation for pregnancy and injuries are substantial.
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