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  1. HSBC's results hinge on US write-downs

    Posted Feb 27th 2010, 12:00am by Staff Reporter

    ... Neil Gough Margins are under pressure and how many billions of dollars HSBC Holdings will write down on its US subprime loan portfolio is anybody's guess, but the market is sure ... as HSBC probably benefited from the ongoing global economic recovery. Analysts are expecting the bank to record US$7.71 billion in net profit, according to a Bloomberg survey. That would represent ...

  2. HSBC bid to cut paper use fails to satisfy greens

    Posted Aug 25th 2009, 12:00am by Staff Reporter

    ... move by HSBC to introduce paperless statements. The bank said this would save up to 40 million sheets of paper a year, or 3,100 trees. But HSBC said it would continue sending marketing material ... to follow suit. A spokeswoman for Hang Seng Bank, an HSBC subsidiary, said: 'There are about 900,000 clients using our e-banking service. They now have the choice of receiving paper statements ...

  3. HSBC earnings to take hit but analysts turn optimistic

    Posted Aug 03rd 2009, 12:00am by Staff Reporter

    ... Maria Chan It is rare that analysts have much positive to say about a bank that is expected to show a drop in profit, but some brokerage houses are seeing signs of optimism at HSBC Holdings. The banking giant, which issues interim earnings today, is likely to report net profit continues to be dragged down by higher provisions, mainly by United States consumer finance unit HSBC ...

  4. HSBC mainland branch expansion seeks to bolster 'go west' strategy

    Posted Jul 27th 2009, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai HSBC Holdings hopes to play a complementary role in China to reinforce the government's 'go west' policy as it expands its branch network across ... set up a branch in Taiyuan, the capital of Shanxi province. Mr Flockhart said HSBC was looking to achieve a geographic balance across the mainland, with operations on the coast ...

  5. HSBC to set up life insurance venture with National Trust

    Posted Jun 10th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu HSBC Holdings has obtained approval from the China Insurance Regulatory Commission to set up a 50-50 joint-venture life insurance company with Beijing-based National Trust. HSBC ... executive, Asia-Pacific, of HSBC Insurance. Mr Fried will be the chairman of the joint venture, and National Trust chairman Dennis Chan its deputy chairman. Terry Lo Kin-wing will be the chief ...

  6. HSBC plans 2b yuan bond sale for retail investors

    Posted Aug 05th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu and Maria Chan HSBC Holdings' mainland unit plans to sell as much as 2 billion yuan (HK$2.27 billion) worth of yuan bonds to retail investors from August 18 to September 4, ... Bank's retail yuan bond at 2.45 per cent and may match Bank of East Asia's yuan bond priced at a coupon rate of 2.8 per cent per year. HSBC in June became the first lender to float a yuan ...

  7. HSBC aims to be among first foreign listings in Shanghai

    Posted May 05th 2009, 12:00am by Staff Reporter

    ... Maria Chan HSBC Holdings could be among the first foreign firms to list on the Shanghai stock exchange within two to three years as the mainland's richest city ramps up its ambitions to become a global financial centre. HSBC hoped to be among the first batch of foreign companies to float in Shanghai, but no definite time frame had been set, said Peter Wong Tung-shun, ...

  8. Brokers cut HSBC price targets over US woes

    Posted Mar 04th 2009, 12:00am by Staff Reporter

    ... Natalie Chiu and Wong Ka-chun Major brokerages slashed their share price targets for HSBC Holdings as much as one-third yesterday on concerns about more bad debt provisions for its troubled United States operation. JP Morgan said winding up the bank's US consumer finance unit, HSBC Finance Corp, was expected to lead to cost savings, but uncertainty over provisioning ...

  9. Edgy investors await HSBC report

    Posted Mar 02nd 2009, 12:00am by Staff Reporter

    ... Maria Chan All eyes will be on HSBC Holdings today as the banking giant unveils its results for last year and, investors hope, clarifies a range of issues that have sent the stock tumbling ... to raise between US$15 billion and US$35 billion in capital? Bloomberg reported last week that HSBC might raise as much as GBP12 billion (HK$132.1 billion) to bolster capital, while ...

  10. HSBC acquires Indonesian bank for US$607.5m

    Posted Oct 21st 2008, 12:00am by Staff Reporter

    ... Maria Chan While other major banks are shrinking, and even failing, HSBC Holdings is on the acquisition trail. Britain's largest lender said yesterday it had agreed to pay US$607.5 million in cash for 88.89 per cent of Bank Ekonomi Raharja, HSBC's first bank acquisition in Indonesia. The purchase would enhance HSBC's commercial banking business in Indonesia, extend ...




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