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  • October 22, 2014
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  1. China the key to HSBC's success

    Posted Mar 09th 2012, 12:00am

    ... HSBC says the worst is nearly over for the restructuring of its operations in Hong Kong. Generally that is true for the bank as a whole. Most of its woes from the financial crisis stemmed from the US$15.5 billion purchase of a US subprime retail mortgage lender responsible for accumulated losses of US$50 billion. HSBC has been running this business down to the extent ...

  2. HSBC staff plan to take sick leave in job protest

    Posted Jan 20th 2012, 12:00am

    ... of the 550 HSBC employees interviewed said they had suffered from anxiety since the bank announced a global restructuring plan last year. Eighty-five per cent said they would not be able to make ends ... and back-office positions hit the hardest. In a brief statement yesterday, HSBC said it noted the results of the survey. On its global restructuring plan, the bank said: 'We know this is stressful ...

  3. HSBC postpones review on UK relocation

    Posted May 22nd 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com HSBC will indefinitely postpone a review on the relocation of its headquarters because of regulatory uncertainties, chief executive Stuart Gulliver said ... of being headquartered in Britain still outweighed the disadvantages of not moving. The bank's retail business in Britain was still a 'brilliant operation', but HSBC would keep ...

  4. HSBC bullish on China business

    Posted Jul 31st 2012, 12:00am

    ... banks is under 2 per cent. Recently, HSBC apologised for its mistakes in relation to anti-money laundering controls and pledged to restructure and simplify the businesses further. The bank ... Victoria Ruan in Beijing victoria.ruan@scmp.com HSBC, Europe's biggest bank by assets, says it remains 'confident' about its growth in China as the outlook in Europe ...

  5. Hsbc shares fall on news of soft profit

    Posted Feb 28th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com HSBC's shares fell yesterday as underlying profit was hit by higher costs. The bank's underlying pre-tax profit fell 6 per cent to US$17.7 billion. ... to ?.51 (HK$67.78) in early afternoon trading, the largest intraday drop since November 9. HSBC chief executive Stuart Gulliver said emerging markets such as Brazil, China and Latin America ...

  6. More heartbreak on the way as HSBC wields the axe

    Posted May 17th 2011, 12:00am

    ... Enoch Yiu HSBC in the early part of the last century was known as the 'Heart and Soul Breaking Corp' because of the unofficial house rule that banned junior international staff ... it would close loss-making business and branches as well as reduce headcounts in order to cut global expenses by US$2.5 billion to US$3.5 billion a year by 2013. For HSBC's 269,000 staff, ...

  7. Training at heart of service

    Posted Jun 10th 2011, 12:00am

    ... Chris Davis Putting yourself in the customer's shoes and exceptional communication skills are at the heart of delivering outstanding service, according to five HSBC distinguished service recipients. The quintet agree the training they receive at HSBC helps them provide services that lead to rewarding professional relationships with their customers and helps them carry out ...

  8. HK won't be spared as bank cuts jobs

    Posted Aug 03rd 2011, 12:00am

    ... in the US, the crisis in the euro zone and uncertainty in the Middle East. Despite reporting better-thanexpected first-half profit of US$11.1 billion, HSBC is continuing with restructuring plans ... Lulu Chen lulu.chen@scmp.com HSBC staff in the Asia-Pacific region, including Hong Kong, may not be spared as the bank cuts 30,000 jobs. Chief executive Stuart Gulliver warned yesterday ...

  9. Citibank heeds Beijing call for foreign lenders to set up rural arms

    Posted Oct 24th 2007, 12:00am by Tom Miller

    ... is the second major foreign lender to open a rural arm after HSBC Holdings which launched HSBC Rural Bank in Hubei province's Suizhou city in August. 'The rural areas in China are very ... restructuring process and rural credit co-operatives, many of which are insolvent. So far 23 new rural financial institutions have been established, three have won regulatory approval and five ...

  10. Nanning city bank to be restructured into regional lender

    Posted Jan 24th 2007, 12:00am by Staff Reporter

    ... Maria Chan Creation of Beibu Bay Bank through capital injection part of drive for consolidation Nanning City Commercial Bank, a local lender in Guangxi province, will be restructured ... early this month, was restructured from a cluster of 10 small city commercial lenders and urban credit co-operatives, while Huishang Bank in Anhui province, which opened for business in late ...




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