Financial Performance - HSBC's revenue excluding notable items increased by $0.5 billion year-over-year, a 3% increase[4,7] - Profit Before Tax (PBT) excluding notable items increased by $0.3 billion year-over-year, also a 3% increase[7] - Customer deposits grew by $86 billion year-over-year, reaching $1,737 billion, which includes $19 billion held-for-sale balances for 3Q25 and $6 billion for 3Q24[4,7] - The Return on Tangible Equity (RoTE) increased by 0.9 percentage points year-over-year to 17.6%[7] Business Segments - Banking Net Interest Income (NII) guidance for FY25 was upgraded to $43 billion or better[12,14] - Wealth fee and other income grew by 29% year-over-year[4] - Securities Services fee and other income increased by 15% due to higher asset balances[16,17] Costs and Credit - Costs increased by $1.9 billion year-over-year, a 23% increase, including $1.4 billion of legal provisions related to historical matters[7] - The Expected Credit Losses (ECL) charge was $(1.0) billion, representing ~(40)bps of gross loans and advances[7,24,25] Capital and Strategy - The CET1 ratio was 14.5%[7] - The company is on track for ~3% target basis cost growth in FY25[5,28] - HSBC announced 11 exits Year-To-Date (YTD), including HSBC Malta and Sri Lanka retail banking during Q3[5,29]

Hang Seng Bank has appointed Hong Kong-based Somerley Capital as a financial adviser to its committee evaluating HSBC Holdings' proposal to buy out the bank's minority shares. Somerley would provide its opinion to assist the independent board committee in assessing the proposal, Hang Seng Bank said in an exchange filing on Wednesday. Somerley's advice and the recommendations of the committee would be included in a forthcoming scheme document to be sent to Hang Seng Bank's shareholders, the filing said, w ...

Core Viewpoint - Shenyang Shengjing Financial Holding has increased its privatization offer for Shengjing Bank to HK$1.60 per share from an initial offer of HK$1.32, valuing the bank at approximately HK$11.61 billion ($1.49 billion) [1][2]. Group 1: Offer Details - The revised offer for Shengjing Bank's Hong Kong-listed shares is now HK$1.60 per share, up from HK$1.32 [1]. - The bid for Shengjing Bank's domestic shares has been raised to 1.45 yuan, up from the earlier 1.2 yuan [2]. - Shenyang Shengjing Financial has stated that this offer is final with no plans for further revisions [2]. Group 2: Ownership and Stake - Shenyang Shengjing is primarily owned by the Shenyang Municipal Government's Assets Supervision and Administration Commission, holding approximately 37.23% of Shengjing Bank along with its affiliates [2]. - State-owned entities from Liaoning province have intervened to acquire Evergrande's stake in Shengjing Bank through court-ordered auctions [3]. Group 3: Financial Challenges - Shengjing Bank has faced challenges due to its previous association with Evergrande Group, which is set to delist from the Hong Kong stock market [3]. - The bank's financial health has declined since its peak in 2019, with significant drops in revenues and net profits projected for 2024 [5]. - As of the end of 2024, Shengjing Bank reported assets totaling 1.12 trillion yuan [5]. Group 4: Historical Context - In 2021, Evergrande announced the sale of a $1.5 billion stake in Shengjing Bank to alleviate its debt crisis, with Shenyang Shengjing Finance Investment Group purchasing 1.75 billion domestic shares [4]. - By September 2022, government-backed entities had secured Evergrande's stake in the bank via an auction [4]. - In 2023, Shengjing Bank agreed to a significant sale of credit assets to the province's asset management company [4].

Industry Perspective - The British water industry's overhaul is viewed by some as missing the point, with privatization considered the original issue [1] - Many on the left and fed-up customers share the view that privatization was the "original sin" [1]

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/JNkMSQj99f ...

Industry Perspective - The British water industry overhaul is viewed by some as missing the point, with privatization considered the original sin by many on the left and fed-up customers [1]

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/6kZ1ADU5Wm ...

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/voxNUeCyXu ...