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...Banks “have a habit of wiping their actions and impacts under the carpet,” said one asset manager who has raised the disclosure issue with HSBC....
...Christian Sewing said EU-based banks were suffering from an “unlevel playing field” in terms of attracting talent, after the UK scrapped the cap last month....
...The sale will also force the bank to recognise $4.9bn in historical currency translation reserve losses when the deal closes, HSBC said....
...HSBC will also have to recognise $4.9bn in historical losses related to the falling value of the peso when the deal closes, which is expected to be within the next 12 months, the bank said on Tuesday....
...The Bank of England has fined HSBC £57.4mn for failing to correctly identify customer deposits eligible for protection under the UK’s Financial Services Compensation Scheme between 2015 and 2022....
...A $3bn charge on HSBC’s stake in China’s Bank of Communications, in which it has a 19 per cent holding, is significantly larger than the charge peer Standard Chartered has taken on its China bank stake,...
...Largely what happened was that HSBC had to take this huge kind of $3bn impairment on the value of a stake that they own in a Chinese state-backed bank called Bank of Communications....
...of a bank failing....
...Shares in HSBC fell the most since 2020 after the bank reported an 80 per cent drop in quarterly profit and a $3bn charge on the value of its stake in a Chinese bank....
...The payouts to shareholders reflected “four years of hard work and the strength of our balance sheet in a higher interest rate environment”, said the bank’s chief executive Noel Quinn....
...HSBC’s push into fintech also follows a foray by US-based investment bank JPMorgan into the UK’s digital banking market with the launch of Chase UK in 2021, as the Wall Street bank sought to compete with...
...Last March, the Bank of England worked round the clock to enable HSBC to buy Silicon Valley Bank’s UK arm almost immediately after its US parent went bust....
..., followed by Citi, Itaú, HSBC, Santander, Bank of America, Bradesco and Goldman Sachs....
...Ottawa on Thursday approved the $10.2bn sale of HSBC’s assets to Royal Bank of Canada, more than a year after the UK-based, Asia-focused lender announced its exit from the market....
...“They’re a big bureaucratic bank,” the company’s CFO said of HSBC. “It’s hard for them to reinvent themselves.”...
...Starling Bank has poached energy supplier Ovo’s chief executive Raman Bhatia to lead the London-based neobank following the departure of founder Anne Boden....
...He added the strength of the UK’s prudential regulations had allowed HSBC to buy Silicon Valley Bank’s UK operations swiftly when the parent company ran into trouble in March....
...The position, which would equate to 0.57 per cent of HSBC’s market capitalisation, one of the biggest short positions on a big four UK bank on record, was taken out on Tuesday, according to data reported...
...That puts the bank into direct competition with the likes of Wise and Revolut as it aims to capture a share of the two fintechs’ rapid customer growth....
...Anderson said: “The Bank of England is potentially not going to start reducing base rates until the spring.”...
...HSBC’s quarterly profit plunged 80 per cent as it took a $3bn charge on the value of its stake in a Chinese bank and a further writedown on commercial real estate....
...In a report this month, the global research unit of HSBC highlighted that for the US central bank, the “timing of any move to cut policy rates may still depend significantly on inflation readings to come...
...HSBC’s quarterly profit plunged 80 per cent thanks to a $3bn charge on the value of its stake in a Chinese bank and a further writedown on commercial real estate, highlighting how a slowdown in the country...
...One outlier in Europe is HSBC, which increased its company-wide bonus pool by 12 per cent after its pre-tax profits for the year rose almost 80 per cent....
...The fintech group said on Tuesday that Bhatia, who previously led the digital bank for HSBC’s retail banking and wealth management business in the UK and Europe, would take over from interim chief executive...
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