"The key issues for HSBC (HBC -1%) do appear perfectly simple," says Investec downgrading to...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

"The key issues for HSBC (HBC -1%) do appear perfectly simple," says Investec downgrading to Sell from Buy. "It is generating far more capital than it is able to deploy ... muted (or non-existent) loan growth coupled with  continuing (margin) pressure translates into poor cost-efficiency metrics and inadequate returns."