HSBC LSE: HSBA NYSE: HSBC SEHK: 0005 bankowość

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HSBC management claims victory as Ping An finds little support for pro-breakup resolution
The insurance group calling for a split found few allies willing to join its side on the vote.

https://www.standard.co.uk/business/hsb ... 79179.html

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(Reuters) -HSBC has decided to wind down its wealth and personal banking business in New Zealand, the bank said on Tuesday, as it exits from less profitable businesses globally to focus on expanding in certain Asian markets.

The process, as a result of a strategic review, will happen over several years in a phased manner, it said in a statement.

The London-headquartered lender can "no longer justify investing into this business given the changing operating requirements in the market and scalability of the business", it said.

The decision comes after the bank last year said it was reviewing its retail banking business in the market with a view to selling it.

New Zealand is the latest market on the map the London and Hong Kong dual-listed bank decided to withdraw from.

Europe's largest lender is reviewing a possible exit from about one in five of the markets it operates in to sharpen its focus on Asian expansion, Chief Financial Officer Georges Elhedery told Reuters in May.

Its pivot to Asia has already triggered planned sales of its businesses in France, Greece, Russia and Canada.

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LONDYN (Reuters) – Decyzja HSBC o porzuceniu 45-piętrowej wieży Canary Wharf na rzecz znacznie mniejszego budynku w centrum Londynu jest jednym z najbardziej widocznych przykładów trendu redukcji powierzchni biurowych, który wstrząsa rynkami nieruchomości komercyjnych na całym świecie.
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https://www.investing.com/news/economy/ ... ds-3113689

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HSBC Asset Management przewiduje, że Stany Zjednoczone wejdą w fazę spowolnienia w IV kwartale, po czym nastąpi regres i recesja europejskiej gospodarki w 2024 roku. Perspektywy recesji zmieniły się na "czerwony alarm", a polityka fiskalna i monetarna nie są spójne. Joseph Little, główny strateg globalny, dostrzega potencjał recesji w miarę wzrostu ryzyka, przy czym Europa pozostaje za Stanami Zjednoczonymi, choć ogólna trajektoria jest nadal wyrównana.

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HSBC in the market spotlight

HSBC was the focus of some 'market chatter' at the end of the week on the back of the shares' rise to four-year highs.

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HSBC to raise prime lending rate to 5.875% after Hong Kong rate hike

HONG KONG (Reuters) -HSBC Holdings (LON:HSBA) said on Thursday it is raising its best lending rate in Hong Kong by 12.5 basis points to 5.875% effective on July 28 after the city's de facto central bank raised the base rate.

HSBC also said it would raise the savings rate for its U.S. dollar savings deposits by 12.5 basis points to 1.0% per annum from 0.875% effective on Friday.



The Hong Kong Monetary Authority (HKMA) earlier on Thursday raised its base rate charged through the overnight discount window by 25 basis points to 5.75%, the highest in 16 years, hours after the U.S. Federal Reserve delivered a rate hike of the same margin.

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4/MAJĄC NADZIEJĘ NA POPRAWĘ HSBC

HSBC (LON:HSBA) we wtorek zamyka mieszany sezon sprawozdawczy dla dużych europejskich banków, w którym przychody z bankowości inwestycyjnej wciąż maleją wraz ze spadkiem aktywności transakcyjnej, podczas gdy rosnące stopy podnoszą bardziej stabilne linie biznesowe, takie jak bankowość korporacyjna i detaliczna.

Inwestorzy mają nadzieję na nowy skup akcji po tym, jak HSBC ogłosił w zeszłym kwartale ofertę o wartości 2 mld USD i wznowił wypłatę kwartalnych dywidend po raz pierwszy od 2019 r. Będą również szukać wzrostu konserwatywnie wyglądającej prognozy zysku odsetkowego netto banku w wysokości 34 mld USD.

Inwestorzy HSBC od dawna oczekiwali ziemi obiecanej, gdzie rosnące stopy procentowe banku centralnego podnoszą marże z akcji kredytowej w stosunku do ogromnej bazy depozytowej, ale obraz jest zaciemniony w Wielkiej Brytanii przez presję polityczną, aby płacić więcej zestresowanym oszczędzającym.

Niepewne ożywienie gospodarcze w Chinach może z kolei ożywić obawy o ekspozycję HSBC na prawie 10 miliardów dolarów w nadmiernie rozbudowanym sektorze nieruchomości komercyjnych.

https://www.investing.com/news/economy/ ... er-3138602

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HSBC (NYSE:HSBC) ADRs rose 0.8% after Europe’s largest bank announced a $2 billion buyback as it reported higher profits and revenue for the first half of 2023.

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HSBC rides rising rates to double its income, launches $2 billion share buyback

https://www.investing.com/news/economy/ ... mp-3139916

HSBC wzrósł po tym, jak bank odnotował wzrost zysków w pierwszej połowie roku, ponieważ skorzystał na rosnących stopach procentowych i ogłosił wykup akcji w wysokości do 2 mld USD.

W pierwszych sześciu miesiącach roku zysk przed opodatkowaniem wzrósł do 21,7 mld USD z 9,2 mld USD w tym samym okresie rok wcześniej. Obejmowało to odwrócenie utraty wartości w wysokości 2,1 mld USD związanej z planowaną sprzedażą operacji bankowości detalicznej we Francji oraz tymczasowy zysk w wysokości 1,5 mld USD z przejęcia Silicon Valley Bank UK.

Przychody wzrosły o 12,3 mld USD do 36,9 mld USD. HSBC twierdzi, że było to spowodowane wyższym wynikiem odsetkowym netto we wszystkich swoich globalnych obszarach działalności z powodu podwyżek stóp procentowych.

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Narażeni na sprzedaż kopalń w Chinach spadli czwartą sesję z rzędu, spadając o 1,5% po tym, jak dane z drugiej co do wielkości gospodarki świata pokazały, że sprzedaż detaliczna, produkcja przemysłowa i inwestycje rosną w wolniejszym niż oczekiwano tempie.

Nawet gdy chiński bank centralny obniżył we wtorek podstawowe stopy procentowe, analitycy twierdzą, że potrzebne jest większe wsparcie, aby ożywić wzrost.

"Negatywne nastroje w Chinach (są) widoczne, ponieważ Europa z natury jest gospodarką otwartą, a jej orientacja eksportowa jest skierowana na Chiny" - powiedział Bruckner.

Luksusowi potentaci LVMH, Hermes i Kering (EPA:PRTP), które mają dużą ekspozycję na Chiny, spadli między 1,3% a 1,6%.

HSBC, największy europejski bank, który prowadzi również działalność w Chinach, spadł o 2,3%, ważąc na STOXX 600.

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HONG KONG (Reuters) -HSBC is set to acquire Citigroup (NYSE:C)'s China consumer wealth management business, which manages more than $3 billion in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country.

The transaction, the financial details of which were not immediately known, will also see Asia-focussed HSBC taking over "a few hundreds" of Citi's China-based staff, said one of the sources.

The deal could be announced as soon as next month, the two sources said, who could not be named as they were not authorised to speak to the media.

HSBC and Citi declined to comment.

The acquisition adds to a list of moves by HSBC to expand in China, one of its key markets as Europe's largest lender vows to exit less profitable geographies to focus on its key revenue generator, Asia.

Looming uncertainties around doing business in China have dampened the appetite of Western companies, with fewer banks boosting their presence in face of weaker economic growth and new national security restrictions on data transfers.

However, HSBC's chairman Mark Tucker told Beijing officials during a visit in July that an "ice-breaking" spirit adopted by British businesses historically would help the UK and China overcome challenges and geopolitical tensions, a bank statement said.

The bank, which already runs wealth management and private banking services in the local market, earlier this month scored a first of its kind fund distribution qualification granted to a foreign firm, giving it new opportunities in China's 28.8 trillion yuan ($3.94 trillion) fund market.

HSBC aims to tap its insurance brokerage network to kick off fund sales to wealthy Chinese people as soon as next month, the second source said.

Citi's China wealth management operations, part of the retail banking business it has been looking to exit since 2021, mainly serves rich clients in the world's second-largest economy with deposit, fund and structured product offerings.

Its $3 billion in consumer assets under management is dwarfed by its Chinese and foreign peers such as Standard Chartered (OTC:SCBFF), which have more retail branches handling wealth management.

Its private banking services, catering to high net worth Chinese clients from the bank's locations outside of China, remains intact, the first source said. Citi is also in the process of applying to set up a China securities brokerage unit.

Citi said in December it was looking to sell some of its portfolios as it wound down its China retail banking business, part of a strategy to withdraw from consumer franchises in 14 markets in Asia, Europe, the Middle East, Africa and Mexico.

In Asia, Citi is in the process closing its South Korea operation and plans to complete transferring its Indonesian business to UOB Group. In August, it completed the sale and migration of its Taiwan consumer businesses.

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HSBC boosts its Middle East business with new appointments from Credit Suisse

HSBC has announced a series of key appointments to strengthen its Global Private Banking operations in the Middle East and North Africa (MENA), Switzerland, Israel, and Qatar. The recent hires are part of a broader strategy to expand HSBC's ultra-high-net-worth (UHNW) client coverage in these regions.

Aladdin Hangari, a 20-year veteran of Credit Suisse, has been appointed as the Head of Global Private Banking MENA, succeeding Sobhi Tabbara who will be leaving the bank in January 2024. Hangari previously served as CEO of Credit Suisse (Qatar LLC) and CEO of Aventicum Capital Management Holding AG. He will work in tandem with Tabbara until January to ensure a seamless transition.

Tabbara, who led HSBC's Global Private Banking in the MENA region since 2012, is credited with driving the expansion of UHNW coverage in key markets including Saudi Arabia, United Arab Emirates, Qatar, Kuwait, and Bahrain.

HSBC is also bolstering its presence in Qatar with the appointment of Patrick D'Amico as Global Market Head. D'Amico, along with Christian Hiller, Thomas Schaad, and Simon Aeschlimann, all join HSBC from Credit Suisse as Relationship Managers. They will be based in Switzerland and integrated with HSBC's established Qatari desk onshore in Qatar.

In Switzerland, Kouroche Achtari has been appointed as Market Head for International Switzerland. Achtari also joins from Credit Suisse and his appointment is part of HSBC's strategy to enhance its services for Swiss-based UHNW clients and family offices with an international footprint.

HSBC has also expanded its team in Israel with the appointment of Roy Mironi as the new Desk Head. Mironi joins HSBC from Deutsche Bank and will report to Oren Ben Ishay, Market Head of Israel & Head of Tel Aviv Rep Office.

Gabriel Castello, Regional Head of Global Private Banking EMEA and CEO of the Swiss Private Bank, welcomed the new hires and praised Tabbara's contribution to HSBC, stating his leadership and vision have been instrumental in building out their impressive portfolio across the Middle East.