HSBC Holdings

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The Retail Banking and Wealth Management segment consists of retail banking, wealth management, asset management, and insurance. The Commercial Banking segment offers banking products and services. The Global Banking and Markets segment includes transaction banking, financing, advisory, capital markets, and risk management services. The Global Private Banking offers transaction banking, financing, advisory, capital markets and risk management services to high net worth individuals and families. The Corporate Centre segment is comprises of central treasury, including balance sheet management, other legacy businesses, interests in associates and joint ventures, central stewardship costs and the UK bank levy. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

Earnings data Q1 2021

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Founded in 1865 to finance trade between Asia and the West, today HSBC is one of the world’s largest banking and financial services organisations serving around 46 million customers. Their aim is to be acknowledged as the world’s leading and most respected international bank.

HSBC has lost its appeal against a ruling it rigged European interest rates in 2007, though a fine imposed at the time has been scrapped.  The bank was one of a number that colluded to manipulate Euribor interest rates, a European court concluded in 2017 with the British bank fined US$33.6mln.

HSBC participation in Euribor rigging upheld by court

HSBC has won an appeal against a decision by European antitrust regulators to fine Europe's second-largest bank 33.6 million euros ($36 million) over its role in a cartel to manipulate benchmark Euribor interest rates in 2007.

HSBC wins appeal against $36 mln Euribor cartel fine

Barclays

Citigroup

Credit Suisse

Deutsche Bank

Goldman Sachs

Morgan Stanley

Banks have begun to trim jobs globally, hit by cost pressures as a result of inflation and shrinking revenues in many core business lines amid volatile markets that are making bank bosses nervous about profitability through the year.

Factbox: Global banks cut jobs as cost pressures mount

HSBC (LON: HSBA) share price has staged a strong recovery since November as the company goes through significant changes. The stock rose to a high of 520p, which was the highest level since September 23rd.

HSBC share price: Winds of change are blowing

HSBC's strong capital position, initiatives to strengthen digital capabilities and an extensive network are expected to keep aiding growth.

Restructuring, Solid Capital Position to Aid HSBC's Growth

(Kitco News) - Fidelity Investments and HSBC have become the latest major financial firms to file trademark applications to offer services in the Metaverse.

Fidelity and HSBC are the latest financial firms to seek trademarks in the Metaverse

HSBC has won a London court case which saw it accused of missing “warning signs” when making payments on behalf of convicted fraudster and cricket entrepreneur Allen Stanford.  Stanford was a self-styled billionaire who infamously landed a helicopter at Lord's when he flew in to complete a five-year financial deal with the ECB for a 20/20 cricket tournament in the West Indies.

HSBC victorious in ‘Mr Cricket' supreme court case

HSBC has warned customers to be vigilant for phishing frauds this in year in what festively it has called its '12 scams of Christmas'.

Phishing fraud on the rise as HSBC warn of '12 scams of Christmas'

A small group of HSBC's Hong Kong-based retail investors are seeking support to put a resolution to the bank's 2023 annual meeting calling on it to restore its pre-pandemic dividend and set a plan to spin off assets. HSBC "underperforms its peers, violates dividend commitments (and) ignores shareholders' interests," Ken Lui, convener of a group of shareholders calling for the spin-off of HSBC Asia's business, said in a newspaper advertisement on Thursday.

HSBC's disgruntled HK retail shareholders campaign for spinoff

A small group of HSBC's Hong Kong-based retail investors are seeking support to put a resolution to the bank's 2023 annual meeting calling on it to restore its pre-pandemic dividend and set a plan to spin off assets.

HSBC's disgruntled shareholders launch new campaign for spinoff

Extend has teamed with banking giant HSBC to offer customers virtual cards. It's the second partnership for the virtual card and spend management platform Extend in the last week, arriving in anticipation of a boom in the virtual card industry, with transactions projected to reach the multi-trillion-dollar level in the years ahead.

HSBC Teams With Extend to Offer Virtual Cards

HSBC Holdings PLC (LSE:HSBA), which has been one of the biggest global backers of fossil fuel projects in recent years, said it will phase out investment in oil & gas as part of a new commitment to supporting the transition to net zero.  As part of the new energy policy, the FTSE 100-listed lender said: "we will no longer provide new lending or capital markets finance for the specific purpose of projects pertaining to new oil and gas fields and related infrastructure when the primary use is in conjunction with new fields".

HSBC plans to stop investing in oil and gas - but not yet

HSBC will stop funding new oil and gas fields and expect more information from energy clients over their plans to cut carbon emissions, the banking giant said on Wednesday, as part of a wider update of its sector policy.

HSBC to stop funding new oil and gas fields as part of policy overhaul

HSBC will no longer provide new lending or capital markets finance for new oil and gas fields, the British bank said on Wednesday, as part of a wider update to its energy policy.

HSBC to stop funding new oil and gas fields

UBS Group AG

Despite concerns related to higher restructuring costs and uneven economic growth, Zacks Foreign Bank industry stocks like HSBC, UBS, Barclays (BCS) and Deutsche Bank (DB) should gain from higher rates.

4 Foreign Bank Stocks to Keep an Eye on in a Prospering Industry

BEDFORD, Mass.--( BUSINESS WIRE )--Outseer, a leading provider of payment authentication and account monitoring solutions, announced today the appointment of Yogesh Patel as CTO & Chief Data Scientist. In his new role, Patel will lead the technology and data science teams in pursuit of Outseer's mission to liberate the world from financial fraud.

Outseer Appoints Former Callsign Executive and Senior Technology Leader at HSBC and Lloyds Bank Yogesh Patel as CTO and Chief Data Scientist

HSBC's stock (NYSE: HSBC) has gained 1% YTD as compared to the 14% drop in the S&P500 index over the same period.

Where Is HSBC Stock Headed?

Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs.

Factbox: Global banks take axe to jobs as cost pressures mount

HSBC decides to close almost a quarter of its U.K. branches as customers are moving toward online banking.

HSBC Set to Shut a Quarter of Its UK Branches to Cut Costs

HSBC is cutting as many as 15% of its 2,000 senior operations managers worldwide, as it attempts to streamline its management ranks and reduce costs, two sources with knowledge of the matter said.

Exclusive: HSBC cutting 200 senior operations managers in global cost drive -sources

JPMorgan Chase & Co

JPMorgan will join HSBC in storing bullion for the world's biggest gold-backed exchange-traded fund (ETF), the fund's operator said on Thursday, ending its rival's sole guardianship of the $52-billion stash of gold.

HSBC will have to share custody with JPMorgan of $52 bln in gold bars

HSBC's planned sale of its Canada banking business to Royal Bank of Canada (RY) for CA$13.5 billion will enhance the former's CET1 ratio by 130 bps.

HSBC Rises 4.1% on Canada Unit Sale to Royal Bank of Canada

HSBC Holdings PLC (LSE:HSBA)'s sale of its Canadian arm to the Royal Bank of Canada (TSX:RY) went “better than expected” according to equity research director Andrew Coombs at Citigroup. The FTSE 100-listed bank disposed of over 130 branches and 780,000 customers for CA$13.5bn (US$10.1bn, £8.3bn), ahead of market expectations of CA$9bn and “well ahead” of Citi's expected valuation of the business based on peer group multiples.

HSBC a buy following bank's ‘better than expected' Canadian disposal

HSBC Holdings PLC (LSE:HSBA) said it will close 114 of its UK branches from April next year, as fewer customers visit its physical outlets and instead continue to move to digital banking.  The bank said branch use by regulator customers has fallen by 65% in the past five years, with the decline accelerating following the Covid-19 pandemic.

HSBC to close 114 UK branches as more customers move to online banking

HSBC will close 114 branches in Britain from April 2023, the British lender said on Wednesday, the latest in a string of such announcements by retail banks in the country as they slash their networks to try and cut costs.

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