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HSBC Holdings PLC (0005.HK)

0005.HK on Hong Kong Stock

23 May 2017
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Latest Key Developments (Source: Significant Developments)

HSBC Holdings updates on sale of additional portfolio of US consumer mortgage loans
Wednesday, 8 Mar 2017 07:21pm EST 

HSBC Holdings Plc : On 8 March, HSBC Finance Corp & HSBC Bank USA, N.A. completed sale of portfolio of US first lien residential mortgage loans . "sellers have received cash consideration of us$3.396bn" . "proceeds will be used to pay down long-term debt and for general corporate purposes" .Disposal of loan portfolio is expected to generate a pre-tax gain on sale, after associated costs, of approximately us$150m..  Full Article

Hsbc to start share buy-back of ordinary shares
Wednesday, 22 Feb 2017 02:12am EST 

Hsbc Holdings Plc : HSBC announces that, as outlined in its announcement on 21 february 2017, it will commence a share buy-back of HSBC's ordinary shares of $0.50 each for up to a maximum consideration of $1,000,000,000 . The purpose of the buy-back is to reduce HSBC's outstanding Ordinary Shares .HSBC has entered into an irrevocable, non-discretionary agreement with Credit Suisse Securities to enable the purchase of ordinary shares by Credit Suisse, acting as principal, during the period running from 22 February 2017 and ending no later than 30 June 2017.  Full Article

HSBC enters into agreement with Credit Suisse Securities to enable purchase of ordinary shares
Tuesday, 21 Feb 2017 11:04pm EST 

Hsbc Holdings Plc : Entered into agreement with Credit Suisse Securities (Europe) to enable purchase of ordinary shares by Credit Suisse, acting as principal .Deal for aggregate purchase price of no greater than US$1 billion and simultaneous on-sale of such ordinary shares by Credit Suisse to HSBC.  Full Article

HSBC says no shortlist yet for candidates to replace Chairman
Tuesday, 21 Feb 2017 04:24am EST 

Hsbc Holdings Plc : HSBC CEO says bank not in a situation where it has a shortlist of candidates for chairman's successor .HSBC CEO says expects to identify successor to chairman Douglas Flint in calendar year 2017.  Full Article

HSBC says $3.2 bln private banking impairment won't impact capital ratio
Tuesday, 21 Feb 2017 12:40am EST 

HSBC <0005.HK> -- : CEO says no intention to sell private banking business despite impairment, restructuring over . HSBC CFO says $3.2 billion private banking impairment to have no impact on bank's capital ratio or cash position Further company coverage: [HSBA.L] (Reporting by Sumeet Chatterjee and Lawrence White) ((sumeet.chatterjee@thomsonreuters.com;)).  Full Article

HSBC Holdings FY pre-tax profit $7.11 bln
Tuesday, 21 Feb 2017 12:12am EST 

HSBC Holdings Plc: FY adjusted operating expenses fell by $1.2bln or 4 pct . "We are investing over $2 billion in digital transformation initiatives" . FY adjusted profit before tax $19.3 billion, down 1.2 pct . FY adjusted revenue of $50.2 billion was broadly unchanged . Co instigating a further $1 billion buy-back programme . Maintained FY dividend at $0.51 per ordinary share; total dividends in respect of year of $10.1 bln; confident of maintaining at this level . As at 31 Dec 2016 common equity tier 1 ratio 13.6 pct . FY reported PBT $7.11 billion, down 62.3 percent . FY reported revenue of $48.0 billion was 20% lower . Board has determined to return to shareholders up to a further $1 bln by way of a share buy-back which is expected to complete in first half of 2017 . Gulliver says "The strength of our network gives us an unrivalled ability to help clients navigate complexity and uncover new opportunities" . "Encouraging to see the significant improvement in performance across all business units in Mexico" . "Expect to deliver increased annualised cost savings of c. $6.0bn" . "May need to relocate 1000 roles from London to Paris over next two years due to Brexit" . On chairman succession "Process remains on track and an announcement will be made in due course" . Targeted reduction of risk-weighted assets is 97 pct complete; now expect to exceed co's cost reduction target.  Full Article

UK's FCA says HSBC voluntarily pays 4 mln stg redress
Friday, 20 Jan 2017 05:06am EST 

FCA : Fca- hsbc voluntarily agrees to provide approximately £4 million redress for historical debt collection . Fca - redress scheme for customers who may have suffered detriment by paying an unreasonable debt collection charge imposed by hfc bank ltd, john lewis financial services ltd . Fca - in total, it is estimated that approximately £4 million will be paid by hsbc in redress to affected customers . Uk's fca - has conducted a thorough review of allegations in respect of hfc and jlfs and has been able to establish that approximately 6,700 customer accounts .Uk's fca - vast majority of accounts belong to hfc customers, who paid debt collection charge prior to 2010, either in full, or in part, and are potentially entitled to redress.  Full Article

HSBC Bank USA raises prime and reference rate to 3.75 pct effective tomorrow
Wednesday, 14 Dec 2016 04:58pm EST 

Hsbc Holdings Plc :HSBC BANK USA, N.A announced that raised prime and reference rate to 3.75 pct from 3.50 pct effective Thursday, December 15, 2016.  Full Article

HSBC Germany raises additional tier 1 capital
Monday, 5 Dec 2016 05:55am EST 

HSBC says : HSBC Trinkaus & Burkhardt AG (‘HSBC Germany’) raises additional tier 1 capital to ensure that the Bank's growth complies with regulatory requirements . To raise additional tier 1 capital (AT1) in the form of a bearer bond with an unlimited term for the total amount of 235 mln euros . The bond can be terminated by the issuer for the first time after five years and will have a fixed coupon that will be reset every five years . The initial coupon rate amounts to 5.65 pct . HSBC Bank plc, which holds 80.7% of HSBC Germany's share capital, will fully subscribe for and acquire the securities in the course of a private placement . After the issue, the total capital ratio (calculated on the basis of figures as at 30 September 2016) is expected to increase to 13.7 pct Further company coverage: [HSBA.L] ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

HSBC comments on 2016 BoE stress test
Wednesday, 30 Nov 2016 03:20am EST 

Hsbc Holdings Plc : Under hypothetical stress scenario, HSBC ratio would fall to a low point of 9.1 pct, well above HSBC's CET1 hurdle rate and systemic reference point ratios of 6.1 pct and 7.3 pct, respectively . Results demonstrate impact of our strategic actions and group's continued capital strength .Results incorporate management actions that have been accepted by BoE for purposes of this exercise and CRD IV restrictions in year of low point CET1 ratio.  Full Article

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May 22 The following financial services industry appointments were announced on Monday. To inform us of other job changes, email moves@thomsonreuters.com.