HSBC Flags Bigger Investments in Asia After Profit Beat

Bloomberg2021-02-23

Lender to resume paying dividend after U.K. relaxed banHSBC is pivoting to Asia in a bid to boost profitabilityHSBC Holdings Plc’s earnings beat estimates in the fourth quarter as the lender kept ...

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nakazatous
2021-02-23
nakazatous
Like my comment
阳光宝宝
2021-02-23
阳光宝宝
Ok
- nakazatous:
  Doggy
jianming
2021-02-23
jianming
Omg

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HSBC will resume paying a dividend of $0.15 after British regulators relaxed a ban intended to preserve capital last year after the virus outbreak.HSBC rose 4.6% to HK$48.65 as of 1:02 p.m. in Hong Kong.Chief Executive Officer Noel Quinn said in a statement that the bank had a “solid financial performance in the context of the pandemic – particularly in Asia,” which lays “firm foundations for our future growth.”Sticking to cost cutting plans that will reduce its workforce by about 35,000, HSBC is pushing through one of the banking industry’s most radical responses to the pandemic. 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It doesn’t expect to reach a return on average tangible equity target of between 10% and 12% in 2022, but will now target a return of 10% or above in the medium term.The bank divulged little news on its plans for Europe and the U.S.HSBC said it’s in talks on selling its French retail bank and is likely to post a loss on any divestment. It’s exploring “strategic options” for its U.S. retail franchise and wants to focus on high-net worth clients. 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