HSBC Holdings PLC (HSBC) is considering retrenching its retail operations outside the U.K. and Hong Kong, particularly in Mexico, to mitigate costs further and focus on wealthier “premier” clients. This was revealed by people familiar with the discussions to the Financial Times.Rationale Behind HSBC’s Operation Scale DownHSBC is reviewing the regions excluding its core markets to reduce its consumer presence. The company plans to focus on wealthier “premier clients.”HSBC entered Mexico by acquiring Grupo Fi ...

Banking giant HSBC is facing a lawsuit in Australia over alleged fraud-prevention failures.The Australian Securities and Investments Commission (ASIC) announced Monday (Dec. 16) that it was suing HSBC Australia, accusing the bank of failing to have proper controls to identify and stop unauthorized payments. “We allege HSBC Australia’s failings were widespread and systemic, and the bank failed to protect its customers,” ASIC Deputy Chair Sarah Court said in a news release.“We allege that from at least Januar ...

HSBC is reportedly considering scaling back its retail banking operations in Mexico, Malaysia, Indonesia and some other countries.The bank is considering focusing only on wealthier clients in these markets as it looks to cut costs and focus on its core markets, which are the United Kingdom and Hong Kong, the Financial Times (FT) reported Thursday (Dec. 12), citing unnamed sources.No decision has been made on these changes, according to the report.HSBC did not immediately reply to PYMNTS’ request for comment ...

HSBC Holdings PLC (HSBC) plans to close its credit card operations in China as it faces challenges to achieve growth and profitability in the region. This was reported by sources with knowledge of the matter to Reuters.Details of HSBC’s Credit Card Operations ClosureHSBC has ceased the issuance of new cards and is aiming to wind down the service offered to a major chunk of China's onshore customers. The closure is taking place following unsuccessful attempts to divest the business.The bank is still finalizi ...

Advertisement HSBC has reportedly asked some managers to reapply for their jobs as part of a cost-cutting restructure.Bloomberg reported Monday that hundreds of senior staff will likely lose their jobs.HSBC declined to comment when contacted by Business Insider.HSBC has asked some managers to reapply for their jobs in its newly created corporate and institutional banking division as part of a cost-cutting drive, Bloomberg reported.Citing people familiar with the matter, Bloomberg said that the interview pr ...

HSBC reportedly wants hundreds of managers to reapply for jobs at the bank’s new division.Interviews for positions at HSBC’s corporate and institutional banking (CIB) arm have already begun, Bloomberg News reported Monday (Nov. 18), citing sources familiar with the matter.These interviews — part of new CEO Georges Elhedery’s push for greater efficiency — have essentially pitted senior staff from HSBC’s commercial banking unit against those from the global banking and markets business in competition for CIB ...

LONDON, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Aercap Sukuk Limited  Post Stabilisation Notice HSBC (contact: syndexecution@noexternalmail.hsbc.com) hereby gives notice that no stabilisation was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities. Issuer:Aercap Sukuk LimitedObligor (if any):International Lease Finance CorporationInitial Guarantors (if any):AerCap Holdings N.V., AerCap Global Aviation Trust, AerCap Aviation Solutions B.V., AerCap Ireland L ...

Shares of British-Asian banking giant HSBC Holdings plc (NYSE: HSBC ) have had a solid enough year so far, matching European financials, iShares MSCI Europe Financials ETF ( EUFN ) with a ~20% return. That run looks set to continue following recently released I like to take a long term, buy-and-hold approach to investing, with a bias toward stocks that can sustainably post high quality earnings. Mostly found in the dividend and income section. Blog about various US/Canadian stocks at 'The Compound Investor' ...

HSBC Holdings (HSBC) reported a third-quarter 2024 pre-tax profit of $8.5 billion, up 9.9% from the prior-year quarter. The reported quarter included a loss on the early redemption of legacy securities and disposal losses tied to treasury repositioning and risk management. This was partly offset by a gain on foreign exchange hedges relating to the disposal of banking business in Canada.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results were aided by a decline in expected credit ...

HSBC Holdings plc 3Q24 Results Presentation to Investors and Analysts Simplified organisational structure to accelerate strategic execution 1 Four connected businesses Hong Kong UK Corporate and Institutional Banking, covering clients globally International Wealth and Premier Banking, covering clients globally An 18-person ExCo streamlined to a 12-person Operating Committee Focus on increasing leadership and market share where we have a competitive advantage and the greatest opportunities to grow Deliver be ...