HSBC is set to post Q3 results, with earnings and revenues expected to dip even as investment banking and trading stay strong.
HSBC Holdings said on Monday it will recognise a provision of $1.1 billion in its third-quarter results after a Luxembourg court ruling in a long-running lawsuit tied to the Bernard Madoff investment fraud.
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HSBC's Jose Rasco joins 'Closing Bell Overtime' to talk what weighed down the regional banking sector today and how the Fed could come to the rescue.
HSBC plans to delist Hang Seng Bank in a $37B deal as part of a strategic shift to boost growth and market leadership in Asia.
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HSBC Holdings PLC's (LSE:HSBA) proposal to buy the remaining 36.7% minority shareholders in Hang Seng Bank was a bit of a surprise, analysts said, with the price looking a little "punchy". The second-largest company in the FTSE 100 saw its shares fall over 6% as it said the $13.6 billion cost to own the whole of the Hong Kong lender would be paid for by pausing three quarters of share buybacks to restore its CET1 capital level back to where it was.
HSBC will look at making more acquisitions in key areas, the bank's chief executive told Reuters on Thursday after the lender announced plans to buy out the remainder of Hang Seng bank.
HSBC Holdings on Thursday said it was offering a 30% premium to buy just over the one-third of Hang Seng Bank it didn't already own.
HSBC Holdings PLC (LSE:HSBA) has proposed to acquire the rest of Hong Kong-listed Hang Seng Bank that it does not already own. The deal is expected to be earnings accretive for HSBC, although it will have an estimated day-one CET1 capital impact of 125 basis points, which it envisions being restored by pausing share buybacks for three quarters.
HSBC sharpens focus on Asia and high-net-worth clients while shedding non-core businesses to cut costs and fuel growth.
HSBC is set to exit Sri Lanka's retail banking, selling accounts, cards and loans to Nations Trust Bank as it sharpens its global focus.