All articles tagged with #hsbc
Originally Published 19 days ago — by Financial Times
A HSBC board member who was leading the search for a new chair is set to retire, marking a significant change in the bank's leadership. The article discusses the ongoing leadership transition at HSBC.
Originally Published 20 days ago — by Financial Times
HSBC has appointed a former Citi executive who previously clashed with Andy Sieg, as part of its strategic hiring efforts.
Originally Published 1 month ago — by Financial Times
HSBC has appointed Brendan Nelson as its new chair, signaling a leadership change in the banking sector.
Originally Published 2 months ago — by Financial Times
HSBC's profits declined by 14% due to a provision related to a lawsuit involving Madoff, reflecting challenges in the banking sector.
Originally Published 2 months ago — by CNBC
HSBC's third-quarter profit declined 14% to $7.3 billion but exceeded expectations, driven by a 15% rise in net interest income, despite higher operating expenses and legal provisions related to the Madoff case. The bank also announced plans to privatize Hang Seng Bank, highlighting confidence in Hong Kong's financial sector.
Originally Published 2 months ago — by Financial Times
HSBC anticipates a $1.1 billion loss due to a legal dispute related to its involvement in the Madoff Ponzi scheme, highlighting significant financial and reputational risks for the bank.
Originally Published 3 months ago — by Financial Times
HSBC has proposed a $13.6 billion offer to acquire 100% control of Hong Kong-based lender Hang Seng, aiming to strengthen its presence in the region.
Originally Published 3 months ago — by Reuters
HSBC plans to privatize Hong Kong's Hang Seng Bank in a $13.6 billion deal, offering a 30.3% premium, amid concerns over Hang Seng's rising bad loans and exposure to the property market. The move aims to strengthen HSBC's market position in Hong Kong, with the bank pausing share buybacks to fund the acquisition, which will keep Hang Seng as a separate brand.
Originally Published 3 months ago — by Investing.com
HSBC's shares dropped over 5% after announcing plans to privatize its Hong Kong unit, Hang Seng Bank, in a $13.6 billion deal that involves acquiring the remaining stake at a premium, aiming to simplify operations and focus on the local market, with the transaction expected to be approved by shareholders and completed by mid-2026.
Originally Published 3 months ago — by Bloomberg.com
HSBC plans to privatize its Hong Kong subsidiary Hang Seng Bank in a $37 billion deal, with HSBC acquiring the remaining shares it doesn't own for around $14 billion. The move aims to enhance shareholder value and expand HSBC's presence in Hong Kong, despite challenges in the local banking sector and real estate market. Hang Seng will continue to operate independently under its own license and brand, with HSBC investing significantly in Hong Kong's growth.
Originally Published 3 months ago — by CNBC
HSBC has proposed to privatize its subsidiary Hang Seng Bank, offering shareholders HK$155 per share, valuing the bank at approximately HK$290.74 billion, as part of its strategic focus on strengthening its presence in Hong Kong.
Originally Published 3 months ago — by Bloomberg.com
HSBC achieved a world-first breakthrough in using quantum computing to improve bond price predictions by 34% with IBM's Heron processor, marking a significant advancement in applying quantum technology to real-world financial trading and potentially transforming market efficiency.
Originally Published 5 months ago — by Reuters
HSBC's first-half profit fell 26% to $15.8 billion due to impairments from its stake in China's Bank of Communications and exposure to Hong Kong real estate, with the bank warning of potential future profit misses amid US trade tensions and ongoing restructuring efforts.
Originally Published 5 months ago — by Yahoo Finance
HSBC reported a 26% drop in first-half pretax profit, primarily due to write-downs from exposures to Chinese banks and Hong Kong real estate, amid ongoing restructuring efforts and challenges in the Chinese property market.
Originally Published 5 months ago — by CNBC
HSBC reported a 29% drop in second-quarter profit to $6.3 billion, missing expectations due to impairment charges, and announced a $3 billion share buyback amid ongoing restructuring and economic uncertainties.