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HSBC (HSBA)

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Hypster
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Re: HSBC (HSBA)

#303980

Postby Hypster » April 28th, 2020, 11:12 pm

JuanDB wrote:Rumour of HSBC $600m exposure to Singaporean oil trading company with liquidity issues


Good spot Juan. They eluded to it in today's announcement:

Reported ECL increased by $2.4bn to $3.0bn due to the impact of Covid-19 and weakening oil prices on the forward economic outlook and a significant charge related to a corporate exposure in Singapore.

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Re: HSBC (HSBA)

#303990

Postby Dod101 » April 29th, 2020, 12:15 am

That will be Hin Leong Trading. Well publicised and seems to fall into the category of 'If you owe the bank £10,000 you have a problem. If you owe the bank £1,000,000 the bank has a problem. Add a few noughts and that is the situation here I think. Amazing that HSBC should be caught by that but then a bit like the Chinese themselves, banks need to be gamblers to some extent. It really is not a problem for HSBC which is very well capitalised but still a hit it could do without.

Dod

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Re: HSBC (HSBA)

#330453

Postby idpickering » August 3rd, 2020, 6:24 am


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Re: HSBC (HSBA)

#330456

Postby idpickering » August 3rd, 2020, 7:05 am

idpickering wrote:Interim Results Highlights.

Here; https://www.hsbc.com/investors/results- ... ouncements


Further to the above;

HSBC Holdings 2Q 2020 - Audio webcast & conf call

https://www.investegate.co.uk/hsbc-hold ... 00118497U/

RNS to results here;

https://www.investegate.co.uk/hsbc-hold ... 00068496U/

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Re: HSBC (HSBA)

#341604

Postby idpickering » September 21st, 2020, 7:00 am

FinCEN Files: HSBC moved Ponzi scheme millions despite warning

Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014.

Its role in the $80m (£62m) fraud is detailed in a leak of documents - banks' "suspicious activity reports" - that have been called the FinCEN Files.

HSBC says it has always met its legal duties on reporting such activity.

The files show the investment scam, known as a Ponzi scheme, started soon after the bank was fined $1.9bn (£1.4bn) in the US over money laundering. It had promised to clamp down on these sorts of practices.

Lawyers for duped investors say the bank should have acted sooner to close the fraudsters' accounts.

The documents leak includes a series of other revelations - such as the suggestion one of the biggest banks in the US may have helped a notorious mobster to move more than $1bn.


https://www.bbc.co.uk/news/uk-54225572

HSBC down over 3% in HK market.

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Re: HSBC (HSBA)

#341627

Postby richfool » September 21st, 2020, 8:34 am

idpickering wrote:FinCEN Files: HSBC moved Ponzi scheme millions despite warning

Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014.

Its role in the $80m (£62m) fraud is detailed in a leak of documents - banks' "suspicious activity reports" - that have been called the FinCEN Files.

HSBC says it has always met its legal duties on reporting such activity.

The files show the investment scam, known as a Ponzi scheme, started soon after the bank was fined $1.9bn (£1.4bn) in the US over money laundering. It had promised to clamp down on these sorts of practices.

Lawyers for duped investors say the bank should have acted sooner to close the fraudsters' accounts.

The documents leak includes a series of other revelations - such as the suggestion one of the biggest banks in the US may have helped a notorious mobster to move more than $1bn.


https://www.bbc.co.uk/news/uk-54225572

HSBC down over 3% in HK market.

Down 3.5% in the UK so far this morning.

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Re: HSBC (HSBA)

#341632

Postby Dod101 » September 21st, 2020, 8:52 am

It has been drifting down for a long while now and after all the problems it had in the US and elsewhere some years back (and this seems to be 2013/14) I would be very surprised if they had not reported all of this. They are well aware of the likely outcome otherwise. And they are not the only UK bank anyway.

Dod

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Re: HSBC (HSBA)

#343314

Postby idpickering » September 28th, 2020, 6:28 am

HSBC Posts Biggest Intraday Jump Since 2009 After Selloff

HSBC Holdings Plc rose the most in Hong Kong trading since 2009, recovering from a 25-year low, as its biggest shareholder raised its stake in a bet the embattled lender will return to paying dividends.

Ping An Insurance Group Co., which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC’s long-term prospects, a spokesperson said. The recent slump in the share price and valuation only increases HSBC’s appeal, the spokesperson said.

“Ping An believes HSBC’s suspension of dividend payments is a short-term issue and has been actively communicating with the lender about the possibility of restoring dividends in the future,” the spokesperson said

HSBC shares on Monday rose as much as 8.5%, the biggest intraday gain since April 2009, clawing back some of last week’s 8.9% loss. They were up 7.8% to HK$30.40 as of noon in Hong Kong.


https://www.msn.com/en-us/money/news/hs ... r-BB19r8rb

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Re: HSBC (HSBA)

#343338

Postby Wizard » September 28th, 2020, 8:21 am

Up about 11% at opening, a turning point in sentiment maybe?

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Re: HSBC (HSBA)

#343348

Postby Wizard » September 28th, 2020, 8:43 am

Dod101 wrote:Ping An has only increased its stake by 0.05% before everyone gets carried away and I think the amount involved is small change for them but it is at least a positive although not exactly world shattering. I would not call HSBC a classic falling knife though. I just do not see it as too significant either way at this time. Could easily drift back again.

Dod

I suspect it is the public statement of confidence that is at least as important as the additional amount invested.

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Re: HSBC (HSBA)

#350909

Postby idpickering » October 27th, 2020, 5:56 am

3Q20 EARNINGS RELEASE

Financial performance (vs. 3Q19)
• Reported profit after tax down 46% to $2.0bn and reported profit before tax down 36% to $3.1bn, mainly from lower
revenue. Results in 3Q20 included our share of an impairment of goodwill by our associate, The Saudi British Bank ('SABB'), of $0.5bn.
Adjusted profit before tax down 21% to $4.3bn.
• Our operations in Asia continued to perform resiliently with reported profit before tax in 3Q20 of $3.2bn, despite interest
rate headwinds.
• Reported revenue down 11% to $11.9bn, reflecting the impact of interest rate reductions on our deposit franchises across all
global businesses, partly offset by favourable market impacts in life insurance manufacturing. Reported revenue was also partly offset
by a favourable movement in credit and funding valuation adjustments and higher revenue in Global Markets.
• Net interest margin ('NIM') of 1.20%, down 36 basis points ('bps') from 3Q19. NIM was down 13bps from 2Q20, reflecting
the continuing impact of interest rate reductions due to the Covid-19 outbreak.
• Reported expected credit losses and other credit impairment charges (‘ECL’) down $0.1bn to $0.8bn. The 3Q20 charge
reflected a stabilisation of the forward economic outlook from 2Q20, while wholesale stage 3 charges were in part offset by increased
releases related to historical default cases.
• Reported operating expenses down 1% and adjusted operating expenses down 3%, despite continued investment, due to
the impact of our cost-saving initiatives, reduced discretionary expenditure and a lower performance-related pay accrual.
• Common equity tier 1 capital (‘CET1’) ratio of 15.6%, up 0.6% from 15.0% at 2Q20, reflecting a decrease [/quote

Including this bit on dividends;

Based on our results for 2020 and our forecasts for 2021, the Board will consider whether to pay a conservative dividend for
2020. Any such dividend would be dependent on the economic outlook in early 2021, and be subject to regulatory consultation. A
final determination is expected to be made and communicated in February 2021 with our 2020 full-year results. We also expect to
communicate our revised policy for dividends for 2021 and beyond at the same time.
]


Item downloadable via here; https://www.hsbc.com/investors/results- ... ouncements

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Re: HSBC (HSBA)

#350910

Postby Wizard » October 27th, 2020, 6:07 am

idpickering wrote:3Q20 EARNINGS RELEASE

Financial performance (vs. 3Q19)
• Reported profit after tax down 46% to $2.0bn and reported profit before tax down 36% to $3.1bn, mainly from lower
revenue. Results in 3Q20 included our share of an impairment of goodwill by our associate, The Saudi British Bank ('SABB'), of $0.5bn.
Adjusted profit before tax down 21% to $4.3bn.
• Our operations in Asia continued to perform resiliently with reported profit before tax in 3Q20 of $3.2bn, despite interest
rate headwinds.
• Reported revenue down 11% to $11.9bn, reflecting the impact of interest rate reductions on our deposit franchises across all
global businesses, partly offset by favourable market impacts in life insurance manufacturing. Reported revenue was also partly offset
by a favourable movement in credit and funding valuation adjustments and higher revenue in Global Markets.
• Net interest margin ('NIM') of 1.20%, down 36 basis points ('bps') from 3Q19. NIM was down 13bps from 2Q20, reflecting
the continuing impact of interest rate reductions due to the Covid-19 outbreak.
• Reported expected credit losses and other credit impairment charges (‘ECL’) down $0.1bn to $0.8bn. The 3Q20 charge
reflected a stabilisation of the forward economic outlook from 2Q20, while wholesale stage 3 charges were in part offset by increased
releases related to historical default cases.
• Reported operating expenses down 1% and adjusted operating expenses down 3%, despite continued investment, due to
the impact of our cost-saving initiatives, reduced discretionary expenditure and a lower performance-related pay accrual.
• Common equity tier 1 capital (‘CET1’) ratio of 15.6%, up 0.6% from 15.0% at 2Q20, reflecting a decrease [/quote

Including this bit on dividends;

Based on our results for 2020 and our forecasts for 2021, the Board will consider whether to pay a conservative dividend for
2020. Any such dividend would be dependent on the economic outlook in early 2021, and be subject to regulatory consultation. A
final determination is expected to be made and communicated in February 2021 with our 2020 full-year results. We also expect to
communicate our revised policy for dividends for 2021 and beyond at the same time.
]


Item downloadable via here; https://www.hsbc.com/investors/results- ... ouncements

Conservative dividend, revised policy. Surprised the word rebased was not used. But I guess they are saving that one for when they make an announcement in February.

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Re: HSBC (HSBA)

#350915

Postby Dod101 » October 27th, 2020, 6:47 am

Thanks Ian. Quick on the draw this morning.

These look OK to me. Good to see the CET ratio now at 15.6%. I also think that even mention of a possible dividend bodes well for a Final for 2020. Given the sensitivity in the relationship with the PRA I doubt they would have said what they did without their agreement.

Like a number of other companies they were paying a dividend which was too high for their earnings and having suffered a drought in the last three quarters, I would prefer that they make a modest payment and start to grow it from there.

So the all important announcement is going to be in February, not just with respect to the dividend but also their restructuring plans.

I wonder what the market will make of these results?

Dod

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Re: HSBC (HSBA)

#350917

Postby idpickering » October 27th, 2020, 7:01 am

Dod101 wrote:Thanks Ian. Quick on the draw this morning.

These look OK to me. Good to see the CET ratio now at 15.6%. I also think that even mention of a possible dividend bodes well for a Final for 2020. Given the sensitivity in the relationship with the PRA I doubt they would have said what they did without their agreement.

Like a number of other companies they were paying a dividend which was too high for their earnings and having suffered a drought in the last three quarters, I would prefer that they make a modest payment and start to grow it from there.

So the all important announcement is going to be in February, not just with respect to the dividend but also their restructuring plans.

I wonder what the market will make of these results?

Dod


You're welcome Dod. I've always been an early bird. I guess that goes back to my long service in The Army. As for HSBC, it'll take more than this announcement to tempt me back into holding their shares in my HYP. We'll see how HSBC dividend policy pans out going forward as I watch with interest.

Ian.

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Re: HSBC (HSBA)

#350919

Postby Dod101 » October 27th, 2020, 7:07 am

idpickering wrote:
Dod101 wrote:Thanks Ian. Quick on the draw this morning.

These look OK to me. Good to see the CET ratio now at 15.6%. I also think that even mention of a possible dividend bodes well for a Final for 2020. Given the sensitivity in the relationship with the PRA I doubt they would have said what they did without their agreement.

Like a number of other companies they were paying a dividend which was too high for their earnings and having suffered a drought in the last three quarters, I would prefer that they make a modest payment and start to grow it from there.

So the all important announcement is going to be in February, not just with respect to the dividend but also their restructuring plans.

I wonder what the market will make of these results?

Dod


You're welcome Dod. I've always been an early bird. I guess that goes back to my long service in The Army. As for HSBC, it'll take more than this announcement to tempt me back into holding their shares in my HYP. We'll see how HSBC dividend policy pans out going forward as I watch with interest.

Ian.


I suspect that you are right to be cautious. I continued holding them so will just need to wait and see what happens now. I do not think the comments were entirely unexpected and they are very welcome to me.

Dod

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Re: HSBC (HSBA)

#350926

Postby idpickering » October 27th, 2020, 7:19 am

Dod101 wrote:
I suspect that you are right to be cautious. I continued holding them so will just need to wait and see what happens now. I do not think the comments were entirely unexpected and they are very welcome to me.

Dod


Cheers for your reply Dod. I'm not saying never, but I'll maintain a cautious view of their shares going forward. For me, one doesn't have to have a finger in every pie.

Ian.

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Re: HSBC (HSBA)

#384954

Postby monabri » February 9th, 2021, 8:42 am

https://www.investegate.co.uk/hsbc-hold ... 30023766O/

"Pursuant to Rule 13.43 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, notice is given that a meeting of a committee of the Board of Directors of HSBC Holdings plc will be held on 23 February 2021 (the 'Board Meeting') to consider the announcement of the final results for the year ended 31 December 2020 and to consider the payment of any dividend for the year ended 31 December 2020".

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Re: HSBC (HSBA)

#388996

Postby idpickering » February 23rd, 2021, 5:02 am

Annual Results 2020 downloadable via here;

https://www.hsbc.com/investors/results- ... ouncements

Also posted on HYP Practical board.

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Re: HSBC (HSBA)

#404424

Postby Steveam » April 15th, 2021, 10:09 am

HSBC have now moved their senior management (back) to HK and are increasing efforts in mainland China as part of their pivot to Asia. There are clearly risks with this strategy but it shows a degree of focus or desperation which has been lacking in recent years.

https://www.bbc.co.uk/news/business-56519310

Best wishes,

Steve

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Re: HSBC (HSBA)

#404593

Postby csearle » April 15th, 2021, 7:27 pm

Steveam wrote:HSBC have now moved their senior management (back) to HK and are increasing efforts in mainland China as part of their pivot to Asia. There are clearly risks with this strategy but it shows a degree of focus or desperation which has been lacking in recent years.

https://www.bbc.co.uk/news/business-56519310
Seems quite risky to me to be physically moving in the opposite direction to those regarding freedom as paramount. When HSBC becomes a Chinese government institution will I really be comfortable holding shares in, and receiving dividends from, it?

Chris


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