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...The difference in how the bank accounts for emissions is down to the more hands-off role banks play in capital markets compared to lending, Céline Herweijer, HSBC’s group chief sustainability officer, and...
...“We don’t want to turn into an ordinary neo bank,” he said, adding that the new products were meant as ancillary services to keep its brokerage clients on side....
...“Animal spirits need to be there, we need to innovate,” said Afolami, who earlier in his career worked at HSBC....
...US regulators have pointed to the failure this year of midsized lenders Silicon Valley Bank, Signature Bank and First Republic — three of the largest bank failures in US history — as proof that a review...
...He said investors had been “reassured” by signs of continuity at the central bank....
...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,...
...So HSBC owns 19 per cent of this bank, and they are now saying they’ve had to rethink how much that might be worth....
...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....
...Shares of HSBC in Hong Kong gained 1 per cent while the broader Hang Seng index rose 3 per cent on Wednesday....
...“They’re a big bureaucratic bank,” the company’s CFO said of HSBC. “It’s hard for them to reinvent themselves.”...
...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....
...The Inter-American Development Bank on Sunday won board approval for the moves at its annual meeting in the Dominican Republic, including sweeping changes under which it will focus on fewer, bigger loans...
...The fintech said on Tuesday that Bhatia, who previously led HSBC’s digital bank in the UK and Europe, would take over from interim chief executive John Mountain in early summer, subject to regulatory approval...
...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....
...HSBC declined to comment. The bank’s shares have gained about 18 per cent so far this year. The FCA declined to comment....
...The changes follow rate cuts announced last week by HSBC, Halifax and Leeds Building Society across their residential ranges....
...HSBC, on the other hand, is already offering fee-free transfers to existing customers though its Global Money account....
...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....
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