It serves more than 14 million customers in the UK - but many have no idea what actually stands for. The bank, incorporated in 1865, has branches and subsidiaries in 62 countries across the world including Europe, North America, South America, Asia and Africa.

But despite it being a well-known bank, some customers remain in the dark about what HSBC stands for, prompting Quora users to ponder this question on social media. They asked: "What is the full form of ?"

And it turns out, the British universal bank HSBC stands for The Hongkong and Shanghai Banking Corporation. It may seem random for a UK company to have this name - but there's a clever reason behind it.

Back in the 1840s, the British established Hong Kong as a crown colony, prompting HSBC founder Thomas Sutherland, of the Peninsular and Oriental Steam Navigation Company, to set up a bank with "sound Scottish banking principles" in Wardley House, Hong Kong.

After raising a capital stock of HK$5 million, Sutherland opened a branch in Shanghai - and incorporated the two into The Hongkong and Shanghai Banking Corporation. Today, HSBC has its headquarters in Canary Wharf, London, and maintains 327 branches throughout England and Wales.

Commenting on this, one user said: "Before 1998 the HSBC Group comprised a number of companies including Midland Bank in the UK. HSBC Group rebranded all of those companies in 1998 under 'HSBC + Hexagon'. It stated in its brand documents that while the abbreviation HSBC was derived from one of the companies In the Group (The Hongkong and Shanghai Banking Corporation Limited) that going forward HSBC did not stand for any one company so it does not stand for anything.

"The Hongkong and Shanghai Banking Corporation remains one of the companies under the HSBC Group brand. That company is abbreviated to 'HBAP' internally. However there remain many other entities under 'HSBC +Hexagon' brand that are not called The Hongkong and Shanghai Banking Corporation."

Another user added: "The origins of the bank lie mainly in Hong Kong and to a lesser extent in Shanghai, where branches were first opened in 1865. The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation. The company was first formally incorporated in 1866."

And a third user said: "Use to be Hong Kong Shanghai Banking Corporation however now its only Hong Kong bank but they didn't change name. And yes it is a British bank with head office in UK."