HSBC Flags Bigger Investments in Asia After Profit Beat

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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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·2021-02-23
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·2021-02-23
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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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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.</p><p>HSBC rose 4.6% to HK$48.65 as of 1:02 p.m. in Hong Kong.</p><p>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.”</p><p>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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.</p><p>The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.</p><p><img src=\"https://static.tigerbbs.com/769bb532750ad5688b27f852779bd3ec\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.</p><p>The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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.</p><p>The bank divulged little news on its plans for Europe and the U.S.</p><p>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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Flags Bigger Investments in Asia After Profit Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Flags Bigger Investments in Asia After Profit Beat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 12:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","00005":"汇丰控股","HSBA.UK":"汇丰控股有限公司"},"source_url":"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113867503","content_text":"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 costs in check and signaled bigger investments to drive its pivot to faster-growing Asian markets.Weighed down by loan losses, adjusted pretax profit slid 50% to $2.2 billion in the period, compared with a $1.80 billion estimate, the London-based bank said Tuesday. 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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369512345,"gmtCreate":1614057960887,"gmtModify":1704887436887,"author":{"id":"3573476401813989","authorId":"3573476401813989","name":"阳光宝宝","avatar":"https://static.tigerbbs.com/8a6dbf508669a6888c14037d222d1a4e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573476401813989","authorIdStr":"3573476401813989"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/369512345","repostId":2113867503,"repostType":4,"repost":{"id":"2113867503","pubTimestamp":1614054965,"share":"https://ttm.financial/m/news/2113867503?lang=&edition=fundamental","pubTime":"2021-02-23 12:36","market":"us","language":"en","title":"HSBC Flags Bigger Investments in Asia After Profit Beat","url":"https://stock-news.laohu8.com/highlight/detail?id=2113867503","media":"Bloomberg","summary":"Lender to resume paying dividend after U.K. relaxed banHSBC is pivoting to Asia in a bid to boost pr","content":"<ul><li>Lender to resume paying dividend after U.K. relaxed ban</li><li>HSBC is pivoting to Asia in a bid to boost profitability</li></ul><p>HSBC Holdings Plc’s earnings beat estimates in the fourth quarter as the lender kept costs in check and signaled bigger investments to drive its pivot to faster-growing Asian markets.</p><p>Weighed down by loan losses, adjusted pretax profit slid 50% to $2.2 billion in the period, compared with a $1.80 billion estimate, the London-based bank said Tuesday. 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.</p><p>HSBC rose 4.6% to HK$48.65 as of 1:02 p.m. in Hong Kong.</p><p>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.”</p><p>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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.</p><p>The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.</p><p><img src=\"https://static.tigerbbs.com/769bb532750ad5688b27f852779bd3ec\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.</p><p>The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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.</p><p>The bank divulged little news on its plans for Europe and the U.S.</p><p>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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Flags Bigger Investments in Asia After Profit Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Flags Bigger Investments in Asia After Profit Beat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 12:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","00005":"汇丰控股","HSBA.UK":"汇丰控股有限公司"},"source_url":"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113867503","content_text":"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 costs in check and signaled bigger investments to drive its pivot to faster-growing Asian markets.Weighed down by loan losses, adjusted pretax profit slid 50% to $2.2 billion in the period, compared with a $1.80 billion estimate, the London-based bank said Tuesday. 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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3638132,"gmtCreate":1614058514002,"gmtModify":1680777953967,"authorId":3570519374633708,"author":{"id":3570519374633708,"idStr":"3570519374633708","authorId":3570519374633708,"name":"nakazatous","avatar":"https://static.tigerbbs.com/9ac34656b654252df0f82999785e92ae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":369512345,"type":1,"supId":0,"prevId":0,"content":"Doggy","text":"Doggy","html":"Doggy"}],"langContent":"EN"},{"id":369510329,"gmtCreate":1614057292161,"gmtModify":1704887427989,"author":{"id":"3574836879356815","authorId":"3574836879356815","name":"jianming","avatar":"https://static.tigerbbs.com/e74072998ca48fb5defe4bd96a73c133","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3574836879356815","authorIdStr":"3574836879356815"},"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369510329","repostId":2113867503,"repostType":4,"repost":{"id":"2113867503","pubTimestamp":1614054965,"share":"https://ttm.financial/m/news/2113867503?lang=&edition=fundamental","pubTime":"2021-02-23 12:36","market":"us","language":"en","title":"HSBC Flags Bigger Investments in Asia After Profit Beat","url":"https://stock-news.laohu8.com/highlight/detail?id=2113867503","media":"Bloomberg","summary":"Lender to resume paying dividend after U.K. relaxed banHSBC is pivoting to Asia in a bid to boost pr","content":"<ul><li>Lender to resume paying dividend after U.K. relaxed ban</li><li>HSBC is pivoting to Asia in a bid to boost profitability</li></ul><p>HSBC Holdings Plc’s earnings beat estimates in the fourth quarter as the lender kept costs in check and signaled bigger investments to drive its pivot to faster-growing Asian markets.</p><p>Weighed down by loan losses, adjusted pretax profit slid 50% to $2.2 billion in the period, compared with a $1.80 billion estimate, the London-based bank said Tuesday. 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.</p><p>HSBC rose 4.6% to HK$48.65 as of 1:02 p.m. in Hong Kong.</p><p>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.”</p><p>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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.</p><p>The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.</p><p><img src=\"https://static.tigerbbs.com/769bb532750ad5688b27f852779bd3ec\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.</p><p>The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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.</p><p>The bank divulged little news on its plans for Europe and the U.S.</p><p>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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HSBC Flags Bigger Investments in Asia After Profit Beat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHSBC Flags Bigger Investments in Asia After Profit Beat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 12:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSBC":"汇丰","00005":"汇丰控股","HSBA.UK":"汇丰控股有限公司"},"source_url":"http://bloomberg.com/news/articles/2021-02-23/hsbc-profit-beats-estimates-as-turnaround-plan-remains-intact?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113867503","content_text":"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 costs in check and signaled bigger investments to drive its pivot to faster-growing Asian markets.Weighed down by loan losses, adjusted pretax profit slid 50% to $2.2 billion in the period, compared with a $1.80 billion estimate, the London-based bank said Tuesday. 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. Europe’s largest bank is shifting billions of dollars to beef up operations across Asia, seeking to become a market leader in wealth management by targeting a rapidly expanding affluent population in the region.The bank on Tuesday outlined plans to invest about $6 billion in Asia, targeting wealth, commercial banking and markets to drive “double-digit growth in profit.” It singled out markets in southeast Asia such as Singapore, as well as China and Hong Kong.Expected credit losses last year hit $8.8 billion, as expected at the low end of a previously announced range of $8 billion to $13 billion. It now expects them to be materially lower this year.The bank stuck to a target of getting its cost base down to $31 billion or less in 2022 as well as a $100 billion reduction in gross risk-weighted assets. 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. HSBC has one of the largest U.S. businesses of any non-American bank, partly a result of its ill-fated acquisition of Household International in 2003, the subprime lender that ended up costing the company billions of dollars in writedowns.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":8,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}