|Bid||41.21 x 1800|
|Ask||41.22 x 4000|
|Day's Range||41.17 - 41.40|
|52 Week Range||38.23 - 48.87|
|Beta (3Y Monthly)||0.58|
|PE Ratio (TTM)||11.95|
|Forward Dividend & Yield||2.00 (4.88%)|
|1y Target Est||42.81|
HSBC today announced the appointment of Kavita Mahtani as Chief Financial Officer, HSBC North America Holdings Inc. .
Deutsche Bank (DB) runs into multimillion-dollar losses in its U.S. investment banking arm on offloading the two loans underwritten for private equity clients.
Credit Suisse (CS) expects the deal to boost service offerings to asset managers and distributors, and lead to 0.5% increase in return on tangible equity for 2019.
(Bloomberg) -- The trade spat between the U.S. and China is a symptom of a “broader desire to see China contained,” according to the boss of HSBC Holdings Plc.Describing the ongoing skirmishes as “the dominant economic theme,” Chief Executive Officer John Flint said the relationship between the world’s two biggest economies is forging a new geopolitical front. Asia accounted for just under half of HSBC’s net revenues last year, but 91% of operating income.“When we get past trade, I think it’s clear there is a broader desire to see China contained in some way,” Flint said at the Bloomberg Emerging & Frontier Forum in London on Tuesday. “I think we’ll move into a chapter that covers technology and maybe a bifurcation of technology and technology standards.”Bloomberg’s Emerging + Frontier Forum 2019 Live FeedHSBC, Europe’s largest bank with deep roots in China, has not yet felt the impact of the trade war on its earnings, Flint said, adding that continuing tension could lead to more customers postponing investment decisions.China and the U.S. are scheduled to resume talks later this week at the G20 summit in Osaka, Japan, with no signs their tit-for-tat trade war will end any time soon.Despite the current turmoil, Flint said China’s rapid expansion in the global economy “gives Western liberal democracies pause for thought, because here is a deeply socialist system that’s served its people really well.”The backdrop to global banks’ business in China has been defined in recent weeks by the row over comments made by UBS Group AG’s global chief economist Paul Donovan after he used the phrase “Chinese pig’’ in an analysis of the impact of swine flu.To contact the reporter on this story: Harry Wilson in London at email@example.comTo contact the editors responsible for this story: Ambereen Choudhury at firstname.lastname@example.org, Marion DakersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fed officials question Deutsche Bank (DB) to elaborate on its proposed plan of creating a "bad bank" and impact on the U.S. arm of the German lender.
(Bloomberg) -- A slump in German business confidence deepened in June as trade tensions weighed on manufacturers.U.S.-led protectionist threats have clouded the growth outlook in Europe’s largest economy for months, contributing to a manufacturing slump and boosting fears that domestic demand will be undermined. European Central Bank President Mario Draghi last week said he’ll inject fresh monetary stimulus for the euro zone unless the economy improves.The drop in the Ifo index took the closely watched gauge to 97.4, its lowest level since late 2014. A gauge of expectations also worsened. The euro barely moved on the news and was up 0.2% at $1.1392 at 10:36 a.m. Frankfurt time.“It could get worse, maybe not much worse but a little,” said Ifo President Clemens Fuest in a Bloomberg Television interview. “It’s justified to at least postpone any tightening of monetary policy. But I don’t think further easing will help very much. Mario Draghi has rightly pointed out that governments need to use other instruments.”What Bloomberg’s Economists Say....“Risks to the economy remain tilted to the downside, with both the headline expectations balance and the Ifo manufacturing sentiment down in June. Still, the quarterly average remains in line with the first quarter and suggests the economy remained broadly stable in the first half.”--Maeva Cousin. Click to see her GERMANY REACTDraghi told European Union leaders last week that a more expansionary fiscal policy may be needed should the euro-zone economy deteriorate, and has long called for structural reforms to bolster resilience.While Bundesbank President Jens Weidmann expects an improvement in Germany in the second half of the year as exports recover, the signs so far remain mixed. A purchasing-managers survey on Friday showed solid growth in services, but manufacturing remained in contraction. Investor confidence in the nation worsened dramatically this month.Bechtle AG recently lowered its sales expectation for this year, citing the economic slowdown. Geopolitical uncertainties and trade restrictions also forced chip-maker Siltronic AG to curb its outlook.HSBC on Monday predicted the ECB will cut its deposit rate by 10 basis points in each of September and December, taking the rate to minus 0.6%, though it doesn’t expect an “imminent” resumption of quantitative easing.“Members of the ECB Governing Council have been lining up to sound dovish,” Simon Wells, HSBC’s chief European economist, said in a note. “In part, this reflects the global policy backdrop, given the U.S. Fed is now expected to cut rates this year. But it also reflects the sluggishness of core inflation, which is not picking up despite higher wage growth. When we factor in the downside risks from the global trade tensions and a possible ‘no deal’ Brexit, it is understandable that the ECB might be getting more concerned.”(Updates with HSBC forecast in final two paragraphs.)\--With assistance from Kristian Siedenburg, Catarina Saraiva, Harumi Ichikura, Carolynn Look, Alexander Kell and Francine Lacqua.To contact the reporter on this story: Piotr Skolimowski in Frankfurt at email@example.comTo contact the editors responsible for this story: Paul Gordon at firstname.lastname@example.org, Jana RandowFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
If a banker were to describe their dream consumer market, it would look a lot like Hong Kong. The chief beneficiary of this is HSBC, which has a 35 per cent share of the retail loan market, according to analysts at Goldman Sachs, via its own operation and Hang Seng Bank, a local lender it controls. It is so ubiquitous that residents refer to it simply as “the Hong Kong bank”.
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push. Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on technology to boost growth. "So, if you have got Facebook for your personal network, LinkedIn for your professional network, Serai is for your company," said Ramachandran, who previously worked at HSBC's commercial banking unit for more than three years.
DUBAI/DOHA (Reuters) - HSBC has been hired by Qatari state-controlled port operator QTerminals to coordinate a planned $500 million loan, sources said, the bank's first mandate as top adviser for a deal in Qatar since a row erupted between Doha and its neighbours. London-listed HSBC, along with other banks, was caught up in Qatar's dispute with Saudi Arabia, United Arab Emirates, Bahrain and Egypt, which in 2017 cut diplomatic and transport ties with Qatar, accusing it of financing terrorism, a charge Doha denies. "With regards to HSBC, no international financing agreements have been concluded to date.
Moody's de México ("Moody's") has today announced that the long-term senior unsecured debt ratings of Aa1.mx in the Mexican national scale and Baa1 in the global scale of HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC's (HSBC México) first reopening of its first (HSBC 19) and second (HSBC 19D) issuances of Certificados Bursátiles Bancarios (cebures) remain unchanged.
HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, one of the world’s largest banking and financial services organizations, today announced that it has launched a digital home lending experience powered by Roostify. The partnership provides customers with a digital loan transaction experience that is faster, easier and less stressful than before, while enabling HSBC to process and close loans more efficiently with fewer manual touches. “Digital plays a crucial role in supporting, enabling and driving our ambition of customer experience-led growth,” said Raman Muralidharan, Head of Mortgage, Retail Banking and Wealth Management, HSBC Bank.
HSBC is to scrap the minimum balance fee that applies to 3 million customers in Hong Kong in a move likely to be followed by other big lenders as they brace for fierce competition from a wave of virtual banks due to come online later in the year.The monthly charge of HK$50 for small depositors with a passbook savings account and other basic accounts with a balance below HK$5,000 (US$640), has long been viewed as a penalty on some of the bank's most loyal customers. It was introduced 18 years ago.HSBC said on Wednesday that from August 1, it will be the first bank in Hong Kong to go back to providing free basic banking services to roughly 3 million retail customers who hold its passbook accounts, statement accounts, personal and advance integrated accounts, and super ease accounts. It will also get rid of associated charges faced by small depositors, like counter transaction fees."More than 3 million retail banking customers will benefit from the removal of our below-balance fees, counter transaction fees and annual fees for most our personal savings accounts," said Greg Hingston, HSBC's head of retail banking and wealth management in Hong Kong. "This is a key step in reinforcing HSBC's commitment, as Hong Kong's leading bank, to promoting financial inclusion and making banking easy for customers from all backgrounds." Hong Kong hands out first three virtual banking licencesThe fee abolition will also apply to the popular HSBC Advance accounts, which currently charge HK$120 a month if the total deposit and trading volume falls below HK$200,000 (US$25,550)."HSBC's decision to cancel the minimum balance [fee] is related to the fact that there will be eight new virtual banks set up in Hong Kong in the fourth quarter of this year," said Ben Kwong Man-bun, a director of brokerage KGI Asia. "HSBC needs to act now to persuade its millions of customers to stay on or many of them may opt for joining the virtual banks which do not charge a fee for small depositors." Hong Kong virtual bank among Standard Chartered's digital betsHong Kong Monetary Authority (HKMA), the city's de facto central bank, has issued eight virtual bank licences since March. The lenders do not have a branch network, operating purely online.The virtual banks are barred from charging a minimum balance fee to small depositors, and this is likely to be a selling point to lure customers."The competition will be keen when the eight virtual banks start operations. Other traditional banks are likely to follow [HSBC] and make similar moves too," Kwong said. "HSBC's young and tech-savvy customers who get used to getting everything free of charge online would not like to pay the minimum balance fee. Scrapping the minimum fee is a smart move for HSBC to keep its young customers." Hong Kong's appeal as a virtual banking hub is about to be put to the testHang Seng Bank, a unit of HSBC, is also considering a plan to scrap its minimum-balance fee, according to a spokesperson.The move was lauded by the HKMA, as it brings greater convenience and benefit to the broader public, said the monetary authority's spokesperson.Hong Kong's retail banks had supported a service charter promoted by the HKMA to remove minimum service charges for disadvantaged customers, the spokesperson said."Banks should draw up their fees structures in accordance with their own corporate strategies, service models and costs," the spokesperson said. "However, the HKMA has constantly reminded banks to keep in mind the public's expectations and needs in basic banking even while they run their banks based on business principles."HSBC said in a statement that the fee scrapping was aimed at providing "simpler and cheaper" banking services to meet with "customers' diversified banking needs" at different stages of their lives. An online survey indicates that Hong Kong bank customers use on average five different types of banking products.The eight newly licensed virtual banks include two joint ventures separately led by the city's two note-issuing banks " Bank of China (Hong Kong) and Standard Chartered Bank.They also include a joint venture led by China's first online insurer, ZhongAn Online P&C; a Xiaomi-AMTD Group venture called Insight fintech, and the Infinium consortium that includes Tencent Holdings, ICBC (Asia), and Hong Kong Exchanges and Clearing (HKEX).The other three are home-grown unicorn WeLab; mainland China's second largest life insurer Ping An Insurance's subsidiary Ping An OneConnect, and Ant Financial Services' Ant SME Service.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
WeWork has struck one of its biggest European deals, with HSBC agreeing to lease more than a thousand desks in London at what the shared office provider says will be the world’s largest co-working space. The UK bank is to take 1,135 desks on a multiyear agreement at the US group’s Two Southbank Place development in Waterloo, WeWork said. The deal makes HSBC — which also occupies WeWork space in Hong Kong and elsewhere — one of the shared office provider’s largest tenants globally.
Rating Action: Moody's downgrades 18 Turkish banks; outlooks remain negative. Global Credit Research- 18 Jun 2019. London, 18 June 2019-- Moody's Investors Service has today downgraded 18 banks in Turkey....
Moody's Investors Service ("Moody's") has today affirmed the long and short-term local and foreign currency deposit ratings of Saudi British Bank (SABB) at A1/P-1, and upgraded the long and short-term local and foreign currency deposit ratings of Alawwal Bank (Alawwal) to A1/P-1 from A3/P-2. At the same time, Moody's has also affirmed the baseline credit assessment (BCA) of SABB at a3.
HSBC Bank USA N.A. – which exited the retail banking market in Upstate New York in 2012 – says it makes sense to include Buffalo and Western New York in its branch expansion plans.
HSBC, which makes more than 80% of its profit in Asia, last month revealed plans to boost its Asia retail wealth management staff by about 300 by end of this year. HSBC Bank USA said it would also hire more than 300 employees as part of the expansion of its national retail branch network that would add up to 50 branches in new and existing markets. "HSBC is optimising its existing network to right-size and grow its business as well as expand its footprint into new and existing markets that provide attractive opportunities to grow its customer base," the London-based bank said.
The U.S. arm of HSBC Holdings Plc announced plans on Monday to expand its branch network by around a quarter as it opened a new location in Apple Inc's home town of Cupertino, California. The move by Europe's biggest lender by assets comes as it plans a broader strategic shift to try to improve performance in the United States at a time when many lenders are retrenching. HSBC, which makes more than 80% of its profit in Asia, last month announced plans to boost its Asia retail wealth management staff by about 300 by end of this year.