HSBC Holdings plc (NYSE:HSBC) is expected to report relatively weak earnings in Q2 2024 at the end of the month. Potential rate cuts ahead are negative for its revenue and earnings growth ahead, but its dividend yield is quite high and sustainable over the long term. HSBC is a bank that I've covered several times in the past, and Í was positive about its business prospects and share price from 2022 to mid-2023. However, in my last article on HSBC, I downgraded my recommendation to "Hold," as interest rates ...

The Zing app allows members to hold funds in up to 10 different currencies, send more than 30 currencies, and transact in more than 200 countries and territories, the companies said in a Tuesday press release. Zing leverages Visa technology to provide U.K. consumers with low-cost and transparent currency exchange, financial management, instant collections, real-time exchange rates and person-to-person payments — all of which is linked to a Visa card, according to the release. Currencycloud and Tink provided ...

PARIS, July 09, 2024 (GLOBE NEWSWIRE) -- Pre Stabilisation Notice | --- | --- | |---------------------------------------------------------------------------|------------------------------------| | | | | The securities: | | | Issuer: | Iberdrola Finanzas, S.A.U. | | Guarantor (if any): | Iberdrola, S.A. | | Aggregate nominal amount: | EUR Benchmark | | Description: | Fixed rate due 18th July 2034 | | Offer price: | TBC | | Other offer terms: | | | Stabilisation: | | | | | | Stabilising Manager(s): | Wells Fa ...

PARIS, June 25, 2024 (GLOBE NEWSWIRE) -- Post Stabilisation Notice | --- | --- | |---------------------------|----------------------------| | | | | Issuer: | COVIVIO HOTELS SCA | | Guarantor (if any): | na | | Aggregate nominal amount: | EUR 500,000,000 | | Description: | 4.125% due 23rd May 2033 | | Offer price: | 99.455 | | Stabilising Manager: | HSBC Continental Europe | This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority ...

Group 1 - HSBC is restructuring its operations in Germany to focus on growth in Asia, putting its fund administration unit INKA and custody business up for sale [1][2] - INKA has around €400 billion in assets under administration and a 22% market share, making it an attractive target for major financial institutions [2] - The sale process for HSBC's German assets is expected to begin soon and could generate over €700 million ($751.17 million) for the bank [5] Group 2 - HSBC's strategic focus on Asia is driven by impressive growth in the region, leveraging synergies across various financial services to meet comprehensive wealth management needs [3] - The bank is ramping up its presence in Asia, particularly in China, by acquiring Citigroup's retail wealth management portfolio, which adds over 300 employees to its workforce [6] - HSBC has exited retail banking in several countries, including the United States, Canada, and Argentina, as part of its strategy to consolidate operations in less profitable regions [9] Group 3 - ABN Amro is nearing a deal to acquire HSBC's private banking division in Germany, which will increase ABN Amro's assets under management by €26 billion [8] - HSBC's shares have gained 7.3% this year, outperforming the industry's growth of 3.4% [7] - The bank's dual approach involves consolidating operations in less profitable regions while aggressively expanding in Asia to optimize its global footprint [4]

HSBC Holdings PLC (HSBC) remains well-positioned for growth on the back of restructuring initiatives, higher interest rates and an extensive network. However, rising costs and a tough operating backdrop are headwinds. Additionally, in 2022, HSBC acquired 100% of the issued share capital of AXA Insurance in Singapore and L&T Investment Management Limited. Moreover, HSBC increased its ownership stake in its China securities JV – HSBC Qianhai Securities Limited, while in 2021, the company got a regulatory nod ...

FINMA stated, "HSBC Private Bank (Suisse) SA operated two high-risk business relationships where it failed to carry out an adequate check of either the origins, purpose or background of the assets involved. In addition, a number of high-risk transactions were insufficiently clarified and documented, making it impossible to establish the legitimate nature of these transactions." Recently, as part of an industry-wide investigation into lenders' exposure to the private equity industry, Britain's Prudential Reg ...

Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. "HSBC Private Bank (Suisse) SA operated two high-risk business relationships where it failed to carry out an adequate check of either the origins, purpose or background of the assets involved," FINMA said in the release. "In addition, a number of high-risk transactions were insufficiently clarified and documented, making it impossible to establish the legitimate nature of th ...

After almost two years of negotiations, HSBC Holdings plc (HSBC) has finally completed the sale of its Russia Unit to Expobank. The lender confirmed that it transferred the ownership of its Russia unit, HSBC Bank (RR) LLC, to Expobank for an undisclosed fee. HSBC stated, "Economic ownership of HSBC Russia has been transferred to Expobank. The transaction will formally complete once the legal title transfer has been registered in the State Corporate Register." HSBC first announced its intention to sell 100% ...

Group 1: HSBC Hybrid Checking Account - HSBC Bank USA has launched a new checking account for business clients that combines an earnings credit rate (ECR) with credit interest, named the HSBC Hybrid Checking Account [1] - The account allows businesses to earn interest on every dollar deposited, offset service fees, and grow account balances simultaneously, providing a flexible interest-bearing solution [2] - Unused credits in this account are not forfeited, unlike traditional ECR accounts, allowing businesses to benefit from both earnings credit and credit interest on remaining balances [2] Group 2: Client Features and Benefits - Clients can target their balance for the earning credit calculation by setting a threshold amount, with excess earnings credits credited back to the account [3] - Cash balances above the ECR threshold earn traditional credit interest, enhancing the account's utility for businesses [3] Group 3: Industry Developments - Pocketbook has partnered with Grasshopper to offer white-labeled, FDIC-insured commercial checking accounts to small- to medium-sized business (SMB) customers, indicating a trend towards embedded finance solutions in the commercial banking sector [4] - The launch of the HSBC Hybrid Checking Account follows HSBC's plans to expand its U.S. commercial banking operations, particularly in startup lending, with a focus on tech and healthcare sectors [5][6] - HSBC aims to recruit around 50 additional bankers to support its lending initiatives for startups, reflecting a strategic move to bolster its presence in the commercial banking landscape [6]