HSBC Holdings plc Sponsored ADR (HSBC)
HSBC's Q4 Pre-Tax Earnings Jump, $1.5B Cost-Savings Plan Revealed
Lower expenses support HSBC's Q4 results. The company announces a $1.5 billion cost savings plan, to be achieved by 2026-end.
HSBC to Sell Bahrain Retail Banking Operations Amid Restructuring
HSBC agrees to offload its retail banking operations in Bahrain, excluding its corporate and private banking businesses, amid an ongoing transformation plan.
HSBC unveils cost cuts in drive to create a 'simple, more agile, focused bank'
HSBC's new CEO Georges Elhedery aims to save $300 million in 2025. The bank also plans to reduce its cost base by $1.5 billion by the end of next year.
HSBC buyback gets mixed reception, shares look 'up with events' say analysts
HSBC Holdings PLC (LSE:HSBA) shares were little moved after the FTSE 100 bank posted its final results, with analysts saying there was little to change opinions with the shares close to a 20-year high. Analysts at UBS said underlying fourth-quarter profit before tax was 9% above the consensus forecast, with net interest income slightly ahead of estimates and net interest margin also a beat.
HSBC pushes back climate emissions target, to review policies
HSBC , Europe's biggest bank by assets, said on Wednesday it was pushing back its emissions-reduction goal to mid-century, as the real economy was moving too slowly to net zero, and would look to review its lending targets and policies.
HSBC launches $2bn buyback and new targets as profits beat forecasts
HSBC Holdings PLC (LSE:HSBA) announced a $2 billion share buyback as it posted final results for a year when revenue was flat and underlying profits rose 4.3% to beat market expectations. Chief executive Georges Elhedery, who was promoted to the top job last September, said his main focus has been “simplifying” the business and injecting “energy and intent”, with a focus on cost discipline that included new targets unveiled for around $300 million of cost reductions in 2025 and a $1.5 billion reduction in the cost base by the end of 2026 – though the job cuts will require £1.8 billion of severance and other costs.
HSBC bonus pool flat in 2024 amid cost-cut drive; headcount falls 3%
HSBC's headcount fell 3% last year and its staff bonus pool hardly changed as a new CEO sharpened focus on costs and initiated sweeping restructuring of the Asia-focused lender, showed its 2024 financial report issued on Wednesday.
HSBC launches $2 billion share buyback as annual profit rises 6.5%
HSBC, Europe's largest lender, has announced a share buyback of up to $2 billion after posting a 6.5% increase in annual pre-tax profit, largely driven by the sale of its Canadian banking business. However, the bank's revenue slightly declined, and its earnings fell short of analyst expectations.
HSBC annual profit jumps 6.5%, marginally misses estimates
HSBC annual profit jumps 6.5%, marginally misses estimates
HSBC 2024 profit beats estimates; announces $2 billion share buyback
HSBC reported a 6.6% rise in annual profit on Wednesday, beating market expectations, as income withstood the impact of falling interest rates during a year in which sweeping restructuring pushed up costs.
HSBC to sell Bahrain retail banking unit to Bank of Bahrain and Kuwait
HSBC said on Tuesday it has agreed to sell its retail banking operations in Bahrain amid a wider restructuring at the bank.
HSBC cuts 40 dealmakers in Hong Kong ahead of restructuring, a source says
HSBC , has laid off around 40 investment bankers in Hong Kong as part of the bank's global restructuring, according to one source with direct knowledge of the matter.
