Inés Vargas Barrera’s Post

HSBC is to return $4 billion to its shareholders after rising interest rates spurred a jump in half-year profits at Britain’s biggest bank. Pre-tax profits at the FTSE 100 lender surged to a better-than-expected $21.7 billion, from $8.8 billion a year earlier, and revenues climbed by 50 per cent to $36.9 billion. While the lender’s profits were partly boosted by one-off gains related to the planned sale of its French retail arm and its rescue takeover in March of Silicon Valley Bank UK, higher interest rates drove its revenues higher

It will be interesting to see if the early upward visitation trend of the recent HSBC branch that was converted to an RBC branch continues. What will the impact be on other local branches? #EnvironicsAnalytics #MobileMovementData #CompetitiveInsights

HSBC Holdings plc, commonly known as HSBC, stands as one of the largest and most influential banking and financial services organizations worldwide. With a rich history tracing back to its establishment in 1865 in Hong Kong, HSBC has evolved into a global powerhouse, operating across numerous countries and serving millions of customers. Headquartered in London, HSBC's footprint spans continents, offering a wide array of financial services, including retail banking, wealth management, commercial banking, and global banking and markets. Its diversified presence and extensive network make it a pivotal player in the international finance landscape. HSBC's commitment to innovation and adaptation to changing market landscapes has been a cornerstone of its success. Embracing technological advancements, HSBC has consistently invested in digital transformation, enhancing customer experiences and streamlining operations. However, the bank has not been without challenges. Like many financial institutions, HSBC has encountered regulatory and economic hurdles, navigating complex global financial climates and periodically facing scrutiny over compliance and governance matters. Throughout its journey, HSBC has continued to emphasize its values of sustainability and responsible business practices. The bank has actively contributed to societal causes, supporting initiatives in education, environmental conservation, and community development. With a blend of tradition, innovation, and a global outlook, HSBC remains a formidable force in the financial world, poised to navigate the evolving landscape of international finance while continuing to serve its customers and communities across the globe. #HSBC

EXCERPTS: HSBC Holdings has a $15 billion headache in China—a big stake in a local lender that it can’t easily sell and that could require a big write-down. Long after most other Western banking giants have exited similar positions, HSBC has held on to its roughly 19% position in Bank of Communications, an investment that dates back to 2004. HSBC, Europe’s largest bank by market value, has said the stake is strategically important for its ambitions to grow in Asia. But over the years, a gulf has opened up between HSBC’s valuation of the shareholding and the lower value implied by BoCom’s stock price. In August, HSBC put its internal valuation at $23.9 billion, or about $14.5 billion above the level suggested by the shares. The questions over BoCom, including whether HSBC could contemplate a sale, aren’t just about arcane accounting issues. They also reflect HSBC’s unique position as a huge Western bank that has staked much of its future on growing in mainland China and in Asia more broadly. “HSBC is desperately trying to straddle between the Chinese political system and the U.S. dollar-based political system". The bank, which has more than $3 trillion in total assets, already earns most of its income in Asia. It has a dominant presence in Hong Kong and a major footprint in mainland China, with particular ambitions in insurance and managing wealth. For years, HSBC has been paring back in North America and Europe to focus more on Asia, despite heightened geopolitical tensions between China and the West. COMMENTS: HSBC is indeed in a tough spot, not only with Ping An Asset Management's 8.5% ownership and their (continued) designs to breakup HSBC (https://lnkd.in/gsfYBPCB) but HSBC is getting deeper into China with its agreement to acquire Citi’s retail wealth management portfolio in China (https://lnkd.in/gD9z6r6e). Not to mention that most of HSBC's earnings are from Asia (see attached, below).

Transactions and the risks they present are becoming increasingly uncertain in our current environment. Deal parties will choose to rely on established and cost effective tools like HSBC escrow to help manage those risks and provide the certainty and assurance they require to transact.     Thank you to Thomas Ng, Matt O'Callaghan, Edward Freeman, Sarah Su, Magdalene Lu, especially Vera Chiang and the Freshfields Bruckhaus Deringer Hong Kong team for the opportunity to speak on how escrow and other HSBC Issuer Services products within our regional and global framework can be utilized in various transactions. Simon Field Jason Blondell Jonathan Lam Laurent Faton Ganesh Iyer Daphne Yeung Karen Lomax Jamie Pratt Pankaj Kaul Kate Toland Jamie Bartlett Paul Farrell Beata Frois Andy Cui Wendy Wen Vineet Jain Abhishek Rai Audrey Chan Amal Govil Charita Boentardjo Chandra Rama Ade Permadibta Cindy Wong Thomas McKay Joseph A. Lloret Tim Coldman Nicholas Russell Vasuda Venkatadri Kenny CHEUNG, CAMS #HSBCescrow #HSBC #IssuerServices #CapitalMarkets #M&A #GlobalBanking #CapitalFinancingandInvestmentBankingCoverage #CFIBC #privateequity

HSBC chief executive unexpectedly steps down HSBC has announced that its group chief executive, Noel Quinn is retiring after nearly five years in the role. Europe's largest bank says it is in the process of finding a successor for Mr Quinn, who will stay in the role until a new chief executive is named. HSBC is considering candidates from both inside and outside the firm. It comes as the UK-based lender reported a 1.8% drop in profit for the first three months of 2024, compared to the same time last year. The company said that its pre-tax profit for the period came in at $12.7bn (£10bn), which was a little better than expected by market analysts. “After an intense five years, it is now the right time for me to get a better balance between my personal and business life,” Mr Quinn said. Mr Quinn, who has worked at HSBC for 37 years, was first appointed as its chief executive on an interim basis in 2019, after his predecessor John Flint was ousted from the role. Along with its quarterly results, the bank announced an interim payout to investors of $0.10 per share and said it would buy back up to $3bn of its shares. HSBC recently completed the sale of its operations in Canada and announced plans to do the same with its business in Argentina. The sales are part of efforts by the London-based bank to focus more on faster-growing markets in Asia. #hsbc #hongkong #investmentbanking

🏦 Had an awesome time visiting Standard Bank yesterday! 🌟 I got to see how Standard Bank works up close, and it was super interesting. They offer all kinds of services to help people. What's cool is that they really believe in helping their employees learn and do better, and you can tell because they've done really well as a bank. 💼📈 The best part for me was how they keep encouraging their employees to learn new things all the time. This is a big reason why the bank is so successful. In today's world, where things change quickly, it's awesome to see a company care about its employees' growth. 📚💪 Thinking about this visit, it hits me how important it is for companies to help their employees grow. These are the companies that do well and show others how to succeed too. 🌱✨ Huge thanks to the folks at Standard Bank for being so nice and teaching us a lot. 👏🤝 #StandardBank #SiteVisit #ContinuousLearning #EmployeeGrowth #FinancialServices #IndustryLeadership d-lab

HSBC's recent quarterly performance has stirred considerable attention. With an unexpected 80% profit drop, primarily driven by charges related to its Chinese bank stake and commercial real estate writedowns, the banking giant faced a challenging day in the market. Despite the setback, HSBC's CEO, Noel Quinn, remains resolute, expressing confidence in China's economy and the bank's strategic investments. Our latest article delves deeper into the factors contributing to this downturn and explores HSBC's outlook for the future. Read more at https://lnkd.in/df_kZ8AG #HSBC #finance

A few days. That's all it took for HSBC's latest campaign to make waves in the banking world. With the introduction of a £200 cash incentive for switching to select HSBC current accounts, the UK market took notice — and how! In an impressive display of marketing efficacy and help from Martin Lewis 🐐, HSBC's web traffic not only spiked but also swiftly overtook the longstanding frontrunner, Nationwide. This isn't just growth; it's a digital coup. The speed of this change underscores the campaign's resonance with the target audience, spotlighting the allure of financial incentives in consumer decision-making. Nationwide's consistent lead in web visits for current account products is a testament to its robust online presence and switching incentives. Yet, HSBC's strategic offer quickly tipped the scales, proving that innovative approaches and customer-centric offers can disrupt even the most established trends. I’ll be tracking the campaign's success and even looking into conversion rates, which so far seem pretty good - I may upload in a few weeks if people are interested! #HSBC #MarketingStrategy #DigitalDisruption #CustomerFirst #Finance

#hsbcuk 's £200 cash incentive has tipped the scales in the UK banking market, overtaking #nationwide as the top destination for current account switchers. This strategic move demonstrates the power of financial incentives and strategic partnerships in driving growth. In the current climate of rising costs of living, HSBC's campaign is particularly timely, as it offers a tangible way for people to save money. Shouldn't all businesses be listening and delivering what matters most to their customers? Reach out to Jake Daffern if you want to know more about how Similarweb can help you understand: -Search behaviour -Consumer preference -Competitive benchmarking -Acquisition strategy #costofliving #digitalbanking #digitalstrategy