Page 9 - Hsbc

Amid HK turbulence, HSBC buys AXA Singapore for $575 mn to grow Asia wealth

The acquisition will give HSBC the eighth largest life insurer in Singapore, as well as a leading group health insurance firm, with assets of $474 million, according to a statement.

Return of the fat cats? Europe's bank bonuses rise as profits rebound

Banks have added billions of dollars to bonus pools as they try to reassure restless staff they will be rewarded in 2021 after a lean 2020.

HSBC sees 19% downside in Zomato stock; cuts rating to reduce

As life normalises post-COVID, HSBC predicts a sharp growth in volumes, led by office orders coming through. However, that would also mean AOVs moderating

SBI, Axis, HDFC Bank top go-to lenders for Indian Inc during Covid: Report

Companies say digital infra provided by Indian banks and faster loan and account documentation helped them during crisis.

Huawei CFO not allowed to use HSBC documents in US extradition case

A Canadian judge has denied Huawei Chief Financial Officer Meng Wanzhou's application to add a trove of documents her legal team received from HSBC as evidence to her US extradition case

Investors say banks must toughen climate policies or face AGM rebellion

Investors managing $4.2 trillion on Wednesday called on some of the world's biggest banks to toughen their climate and biodiversity policies or risk rebellions at their next annual meetings

Indian stock market valuation a concern, FDI flows likely to continue: HSBC

FDI in India is likely to pick up going ahead on the back of a strong rebound in growth, said Frederic Neumann, co-head of Asian economics research at HSBC

HSBC aims to be top Asia wealth manager in 5 yrs, eyes China middle class

The London-based bank has outlined ambitious plans to expand in wealth management, particularly in China.

Banking giant HSBC exiting US retail banking to focus on wealth management

HSBC says it is closing its US retail banking business in order to refocus its efforts on wealth management

HSBC withdraws from US retail banking to target rich clients, Asia

The move is part of a larger plan by HSBC to invest more in Asia, where it's focused on banking the region's wealthy

HSBC Q1 profit rises 79% as Covid vaccine rollout sparks cautious optimism

Bank releases $400 million of provisions on improved outlook; lender unlikely to repeat level of writebacks through 2021, says CFO

Climate activists shatter 19 windows at HSBC HQ in London's Canary Wharf

The activists referenced the struggle of the Suffragettes who used direct action to fight for votes for women in the early 20th Century.

HSBC top staff to hot desk at London HQ as bank scraps executive floor

CEO Noel Quinn and other senior managers have been kicked out of their offices on the 42nd-floor.

Foreign brokerages temper return expectation from Indian equities

Goldman Sachs analysts now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their 'overweight' stance on India for now

The big, easy 'buy' story in Asia over; remain underweight on India: HSBC

HSBC has raised their 2021 global and EM gross domestic product (GDP) forecasts to 5.6 per cent (from 4.8 per cent) and 6.6 per cent (6.1 per cent), respectively

HSBC in talks to sell French retail banking to Cerberus, says report

The planned disposal is part of HSBC Chief Executive Noel Quinn's strategy to slash costs across the banking group and Reuters previously reported that Cerberus was among two remaining bidders

Citigroup needs a new strategy for its lagging Asian consumer banks

Citi has pan-Asian heft, garnering about 30% of its revenue in the region from ASEAN nations

Global retail banking: A particular breed heading for extinction

When HSBC and Citigroup were expanding, they were offering best-in-class consumer banking. As technology improved, local rivals have overtaken them

HSBC lowers ambitions on dividends, returns after Covid-led profit fall

Citing the low interest rate environment and tough market conditions, HSBC abandoned its long-term profitability goal of achieving a return on tangible equity of 10 to 12 per cent

HSBC to announce exit from US retail banking, reshuffles top jobs

HSBC on Tuesday is set to report an expected plunge in annual profits reflecting the impact of the Covid-19 pandemic