Tag: $HSBC

BNP Paribas has signed a deal to buy HSBC’s private banking unit in Germany as it continues to expand its footprint in wealth management, the French lender said on Monday.

Europe’s largest lender HSBC on Wednesday declared a share buyback program of up to $3 billion, as pretax profit for the first half of the year beat expectations on the back of a high-interest rate environment.

HSBC Holdings Plc has appointed its Chief Financial Officer Georges Elhedery as its next CEO, the bank said on Wednesday, opting for continuity as it tries to kickstart growth.

Shares of HSBC Holdings fell over 3% in Hong Kong on Friday after reports that its top shareholder Ping An Insurance might be looking to cut its stake in the British bank.

HSBC beat market expectations in its first quarter earnings report on Tuesday, and announced the surprise departure of Group Chief Executive Officer Noel Quinn.

HSBC plans to accelerate the expansion of its wealth business in China despite economic headwinds and is on track to nearly double its headcount by next year, its global wealth head said, as the lender pushes ahead with its Asia pivot strategy.

HSBC pre-tax profit climbed about 78% to $30.3 billion in 2023 from a year earlier, but missed median estimates of $34.06 billion from analysts tracked by LSEG.

 Britain’s biggest bank HSBC has partnered with Google to finance fast-growing climate technology firms behind some of the world’s most promising solutions to global climate change, executives from both firms told Reuters.

HONG KONG, Nov 20 (Reuters) – HSBC is on track to meet a target of expanding its China wealth business headcount to 3,000 by 2025, despite the country’s current economic headwinds, as it bets on a steadily rising number of the extremely affluent, a senior executive said.

MUMBAI, Nov 9 (Reuters) – HSBC aims to further expand personal banking in India to serve the country’s fast-growing pool of high-earning professionals, after the launch there in July of its private bank, its India CEO said on Thursday.

HSBC’s profit after tax came in at $6.26 billion in the three months ended September, jumping 235% compared to the $2.66 billion in the same period last year.

HONG KONG, Sept 28 (Reuters) – HSBC (HSBA.L) is set to acquire Citigroup’s (C.N) 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.

HSBC’s net profit more than doubled to $18.1 billion in the six months ended June, a sharp spike compared to the $9 billion in the same period a year before.