|Bid||655.90 x 200000|
|Ask||656.10 x 372700|
|Day's range||652.20 - 656.60|
|52-week range||596.40 - 736.00|
|Beta (3Y monthly)||0.85|
|PE ratio (TTM)||9.51|
|Earnings date||5 Aug 2019|
|Forward dividend & yield||0.31 (4.75%)|
|1y target est||9.20|
HSBC Bank USA, N.A., (HSBC), part of the HSBC Group, one of the world’s largest banking and financial services organizations, today announced that it has launched a digital home lending experience powered by Roostify. The partnership provides customers with a digital loan transaction experience that is faster, easier and less stressful than before, while enabling HSBC to process and close loans more efficiently with fewer manual touches. “Digital plays a crucial role in supporting, enabling and driving our ambition of customer experience-led growth,” said Raman Muralidharan, Head of Mortgage, Retail Banking and Wealth Management, HSBC Bank.
Britain's next prime minister must make it their "overriding" priority to protect London's globally competitive position in finance after Brexit, financial services minister John Glen said on Tuesday. Britain is due to leave the European Union on Oct. 31 but it has yet to secure a divorce settlement with the bloc, which is the UK financial sector's single biggest customer. The selection of a new prime minister has added to the uncertainty for the British financial services industry, which has long been calling for clarity on the country's relations with the EU after it leaves.
HSBC, which makes more than 80% of its profit in Asia, last month revealed plans to boost its Asia retail wealth management staff by about 300 by end of this year. HSBC Bank USA said it would also hire more than 300 employees as part of the expansion of its national retail branch network that would add up to 50 branches in new and existing markets. "HSBC is optimising its existing network to right-size and grow its business as well as expand its footprint into new and existing markets that provide attractive opportunities to grow its customer base," the London-based bank said.
The U.S. arm of HSBC Holdings Plc announced plans on Monday to expand its branch network by around a quarter as it opened a new location in Apple Inc's home town of Cupertino, California. The move by Europe's biggest lender by assets comes as it plans a broader strategic shift to try to improve performance in the United States at a time when many lenders are retrenching. HSBC, which makes more than 80% of its profit in Asia, last month announced plans to boost its Asia retail wealth management staff by about 300 by end of this year.
HSBC Bank USA, N.A., (HSBC), part of HSBC Group, one of the world’s largest banking and financial services organizations, today announced that it has opened a new branch office in Cupertino, California, at 19900 Vallco Parkway. “Retail branches are important and will continue to maintain a prevalent role in acquiring, retaining and serving customers,” said Pablo Sanchez, HSBC’s Head of Retail Banking and Wealth Management for North America. “While our digital capabilities and self-service channels continue to grow and improve, our network of neighborhood branches still attracts most of our new customers and strengthens our relationship with existing customers in need of additional financial services.
HSBC Bank USA, N.A., (HSBC) today announced a $50,000 grant to the African American Veterans Monument, the nation’s first-ever memorial dedicated solely to honoring the military service of African-American veterans and service members. “African Americans have fought for their country in every military conflict since the Revolutionary War, and too often their contributions are underappreciated, as are the hardships they faced,” said Jennifer Stryrbel, Chief Operations Officer, HSBC USA. Construction of the African American Veterans Monument will begin this summer at a waterfront site in the Buffalo & Erie County Naval and Military Park.
European stock markets closed marginally lower on Monday with a profit warning from Germany's Lufthansa hitting airline stocks, while markets globally awaited clues from the U.S. Federal Reserve on its policy direction. The pan-European STOXX 600 index finished 0.1% lower.
London's main index inched up on Monday as rises in banking shares outweighed the impact of a profit alert from Germany's Lufthansa on airlines, while UK contractor Kier Group skidded to an all-time low. Both the FTSE 100 index and the FTSE 250 midcap index ended 0.2% higher.
The pan-European STOXX 600 index finished 0.1% lower. France's CAC 40 was led higher by luxury stocks, while IT company Indra Sistemas' 7.1% slip took Spain's IBEX 35 0.7% lower. At the U.S. Federal Reserve policy meeting starting Tuesday, investors on balance think an interest rate cut is unlikely while many back a shift towards one in July.
Many of Britain's fast-growing fledgeling banks have little experience of downturns and could underestimate potential loan losses if markets turned sour, a Bank of England review of 20 lenders showed. Britain has encouraged many new lenders to compete in a market dominated by HSBC, Barclays, RBS and Lloyds, known as the Big Four. Over the past year the central bank has been reviewing the business models and activities of 20 "fast-growing" smaller lenders that have balance sheets of at least 750 million pounds ($945.5 million).
China's Huatai Securities has priced its London stock market listing at the bottom of its indicated price range in a deal that will help it to raise at least $1.5 billion. Huatai, one of China's largest brokerages, is expected to make its London market debut on June 17, becoming the first company to trade via the long-awaited London-Shanghai stock connect project. Its listing on the London Stock Exchange will coincide with Britain and China holding the next round of their Economic and Financial Dialogue (EFD), with Chinese Vice Premier Hu Chunhua leading a Chinese delegation to London on Monday.
London's FTSE 100 weakened on Friday as Asia-focused banks took a hit from underwhelming Chinese industrial growth data, while Kier shed more than a third of its value after it was reported to be planning to sell its housebuilding unit at a discount. The FTSE 100 slipped by 0.3%, with exporter stocks also weighing on the index. The FTSE 250 fell by the same amount, tugged lower by Kier's 35.5% plunge.
The Swiss bank and its chief economist, Paul Donovan, had previously apologized for the comment, saying it was “innocently intended.” Donovan, in a discussion of the rise in Chinese consumer prices that was mainly due to sick pigs, had asked whether that mattered. “It matters if you are a Chinese pig. It matters if you like eating pork in China,” he said in the UBS Morning Audio Comment.
Foreign investment in sub-Saharan Africa rose 13% last year to $32 billion, bucking a global downward trend and reversing two years of decline, according to a United Nations report. Development of new mining and oil projects, a new U.S. development-finance institution and the ratification of an agreement to create a continent-wide free-trade area could further boost foreign direct investment (FDI) in 2019, it said. Africa stands in sharp contrast to developed economies, which saw FDI inflows plunge 27% to their lowest level since 2004, the United Nations Conference on Trade and Development wrote in its "World Investment Report".
Weakness in oil companies and banks halted a week long rally in European shares on Wednesday, as soft Chinese factory activity data and Washington's tough stance on trade talks with Beijing prompted investors to cash in some of June's gains. Defensive sectors such as media, healthcare and telecoms helped Europe's pan-regional STOXX 600 bounce off early lows. Expectations of looser monetary policy from the major central banks to counter a global growth slowdown have supported risk assets.
Hong Kong braced for mass strikes on Wednesday after thousands braved thunderstorms overnight to stage fresh protests against a proposed extradition bill that would allow people to be sent to mainland China for trial. Hong Kong Chief Executive Carrie Lam said she would press ahead with the legislation despite deep concerns across large swathes of the Asian financial hub that on Sunday triggered its biggest political demonstration since its handover from British to Chinese rule in 1997.
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“We are still optimistic,” Alexandre Guiao, HSBC’s chief executive officer for Brazil, said in an interview at the bank’s Sao Paulo office. A non-compete period tied to the sale of the unit to Banco Bradesco SA ended in December, and HSBC’s strategy is to become “relevant” again in Brazil corporate and investment banking, Guiao said.
Britain's banks and building societies will have to charge the same amount for all overdrafts from April 2020, the Financial Conduct Authority (FCA) said on Friday, in a radical change that will raise questions about the future of free in-credit banking. It said the changes would make overdrafts simpler, fairer and easier to manage, protecting the millions of consumers, and particularly the more vulnerable ones, who use overdrafts. "The overdraft market is dysfunctional, causing significant consumer harm," FCA Chief Executive Andrew Bailey said in a statement.
Holders of almost all of Chase's popular credit cards — including the Sapphire Preferred and Reserve — will be subject to the new agreement, unless you opt out.
Europe's biggest lender is calling time on its corporate broking relationship with Goldman Sachs a decade after the Wall Street bank orchestrated one of the biggest capital-raisings undertaken by a financial institution during the financial crisis. Sky News has learnt that HSBC Holdings has informed Goldman that it will not be part of its future broking line-up, following a review led by Ewen Stevenson, the FTSE-100 bank's new finance chief. The development will be seen as a significant one among the coterie of senior City bankers who dominate the tight-knit practise of corporate broking - a peculiarly UK-specific tradition that aims to ensure major listed companies are kept abreast of key shareholders' views.