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HSBC Holdings PLC (HSBC)

  • Mar. 28, 2013, 9:21 AM
    The "generous" capital ratio imposed by the Bank of England - 7% by 2013's end vs. 10% in 2019 by Basel - may allow the country's lenders to avoid dilutive share shales. "There is no trigger for any fresh equity issuance," says analyst Ian Gordon, expecting "very limited" impact on existing capital plans. RBS -0.7%, LYG +0.7%, BCS +1.8%, HBC +1% premarket.
    | Mar. 28, 2013, 9:21 AM | Comment!
  • Mar. 27, 2013, 6:09 AM
    Various markets dive after the BOE spells out the continued massive risks to British banks. Half of the £25B that banks must raise this year has been factored into their capital-raising plans. All in all, major banks and building societies face a £50B reduction in their regulatory capital, although HSBC (HBC) doesn't face a shortfall. FTSE 100 -0.1%, S&P futures -0.2%. (PR)
    | Mar. 27, 2013, 6:09 AM | 1 Comment
  • Mar. 27, 2013, 5:48 AM
    The Bank of England says U.K. banks must raise another £25B by the year-end to protect themselves against potential losses. The losses that the sector faces over three years on high-risk loans exceeds existing provisions by £30B; banks also face £10B of additional fines and costs for misconduct. (PR)
    | Mar. 27, 2013, 5:48 AM | 5 Comments
  • Mar. 18, 2013, 3:36 AM
    HSBC (HBC) could reportedly axe up to 5,000 or more jobs as part of the desire of CEO Stuart Gulliver to lower expenses by another $1B in 2013. The cuts would add to the sharp staff and cost reductions the bank has already implemented in the past couple of years, and are set to be unveiled at an investor day in May. While the bank has slashed its outgoings, it's still far away from meeting its cost-income ratio targets.
    | Mar. 18, 2013, 3:36 AM | 1 Comment
  • Mar. 13, 2013, 5:25 PM
    Moving on from Libor, the CFTC is reportedly having an informal look at whether the London fix for gold and silver is open to manipulation. Gold prices are set twice daily by five banks via teleconference (silver by 3), with the fixings then used worldwide as benchmarks for any number of transactions. The banks involved: BCS, DB, HBC, BNS, SCGLY.PK.
    | Mar. 13, 2013, 5:25 PM | 3 Comments
  • Mar. 11, 2013, 6:01 AM
    The U.K.'s Parliamentary Commission on Banking Standards has called for the government to assume the power to mete out collective punishment on the country's banks, saying that it should consider breaking them all up into retail and investment-bank activities if even just one of them breaches new ring-fencing rules designed to avoid another bailout.
    | Mar. 11, 2013, 6:01 AM | 2 Comments
  • Mar. 5, 2013, 3:26 PM
    More on the HSBC (HBC) loan portfolio sale: The package has a book value of $3.4B vs. the sale price of $3.2B, so the bank won't book too much of a loss. Newcastle Chairman Wes Edens said just days ago this could be the year when banks really start to unload non-performing loan portfolios, and the buy makes a nice addition ahead of the spinoff the company's residential business.
    | Mar. 5, 2013, 3:26 PM | 1 Comment
  • Mar. 5, 2013, 9:03 AM
    Newcastle Investment (NCT) jumps 3.1% after inking a deal to acquire up to 50% of a $4.2B UPB portfolio of consumer loans - home and unsecured personal - from HSBC (HBC). Newcastle will team with another Fortress (FIG) affiliate - Springleaf Financial, which will have responsibility for servicing the loans. The total purchase price comes to $3.2B. (PR)
    | Mar. 5, 2013, 9:03 AM | 2 Comments
  • Mar. 4, 2013, 3:37 AM
    More on HSBC (HBC) 2012: EPS -20% to $0.74. Notable items include $1.9B of fines for compliance breaches and $1.4B for mis-selling of financial products in U.K. Return on equity 8.4% vs 10.9% in 2011. Revenue breakdown: Global Banking & Markets +10% to $18.2B, Commercial Banking +8% to $15.9B; Retail Banking & Wealth Management +6% to US$27.7B. Over half of underlying revenue came from faster-growing regions. (PR)
    | Mar. 4, 2013, 3:37 AM | Comment!
  • Mar. 4, 2013, 3:28 AM
    HSBC (HBC): 2012 pretax profit -6% to $20.6B vs consensus of $22.7B, and includes $5.2B of adverse fair value movements on own debt. Underlying pretax profit +18% to $16.4B. Core tier 1 capital ratio 12.3% vs 10.1% in December 2011. Underlying revenues +7% to $63.5B. Raises 2012 dividend by 10% to $0.45/share, including $0.18 for Q4, for a total payout of $8.3B. First three dividends of 2013 will be $0.10. (PR)
    | Mar. 4, 2013, 3:28 AM | Comment!
  • Feb. 19, 2013, 11:48 AM
    HSBC's (HBC) Latin American unit agrees to sell HSBC Panama to Bancolombia for $2.1B in cash. The move furthers HSBC's goal of concentrating its Latin American business on the core markets of Brazil, Mexico, and Argentina. (PR)
    | Feb. 19, 2013, 11:48 AM | Comment!
  • Feb. 1, 2013, 6:09 AM
    The China Insurance Regulatory Commission has approved HSBC's (HBC) sale of its remaining 15.7% stake in Ping An Insurance to Thailand's Charoen Pokphand for $7.5B. There had been reports that the agency would block the deal due to concerns about how Charoen Pokphand would fund it. HSBC will now be able to book a $2.6B post-tax gain. (previous)
    | Feb. 1, 2013, 6:09 AM | Comment!
  • Jan. 31, 2013, 5:33 AM
    Barclays (BCS), HSBC (HBC), Lloyds (LYG) and RBS (RBS) may have to pay small-business customers hundreds of millions of pounds in compensation over the mis-selling of products that were supposed to lower their clients' interest-rate risks. The FSA has ordered the banks to review the sales after the U.K. regulator found that banks breached rules in over 90% of 173 deals that it looked at. Barclays has already provisioned £450M for the purpose.
    | Jan. 31, 2013, 5:33 AM | Comment!
  • Jan. 30, 2013, 11:58 AM
    HSBC's (HBC) agreement to sell the rest of its stake Ping An Insurance to Thailand's Charoen Pokphand for $7.4B expires tomorrow if a Chinese regulator does not sign off, or if the parties don't agree to an extension. With HSBC planning to book a $2.6B profit on the deal, the "odds are high" the agreement will be extended.
    | Jan. 30, 2013, 11:58 AM | Comment!
  • Jan. 18, 2013, 3:04 PM
    HSBC (HBC) settles foreclosure-abuse charges with the Fed and the OCC, agreeing to pay $249M to certain mortgage holders. This settlement follows recent deals (I, II) cut by numerous other household names in the banking industry.
    | Jan. 18, 2013, 3:04 PM | Comment!
  • Jan. 10, 2013, 11:33 AM
    HSBC (HBC +1.1%) knows of no information relating to its proposed sale of Ping An that "must be announced to avoid a false market" in its stock, and the Dec. 5 report - the announcement of its sale of a $9.4B stake in the insurer - "remains accurate." Recent stories have suggested Chinese regulators are set to block the sale.
    | Jan. 10, 2013, 11:33 AM | Comment!
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Company Description
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.