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HSBC today posted a pretax profit of $3.15 billion for the three months ended September 30

HSBC's third quarter profits fall by 42%

HSBC has today named Georges Elhedery, a former chief of its investment bank, as its new chief financial officer in a surprise move.

Business • 25 Oct 22

HSBC to review Canary Wharf tower headquarters

HSBC is reviewing whether to keep its global headquarters in London's Canary Wharf, a staff memo seen by Reuters today showed, a decision which could see the bank swap the financial hub for a new home after more than 20 years.

Business • 29 Sep 22

HSBC suspends senior banker over climate claims

Lending giant HSBC has reportedly suspended a senior banker after he dismissed climate change warnings as "unsubstantiated" and claimed central bankers have exaggerated global warming risks.

Business • 23 May 22

HSBC is Europe's largest bank with a market value of $130 billion

HSBC's Q1 profit drops on credit charges

HSBC Holdings has today posted a 27% drop in quarterly profit and ruled out the possibility of more buybacks this year, while it blamed rising inflation and economic uncertainty due to the Russia-Ukraine conflict for denting its prospects.

Business • 26 Apr 22

Global bank HSBC has joined a growing list of companies looking to exit Russia

Western firms head for the exit in Russia

Energy giant BP, global bank HSBC and the world's biggest aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia today, as Western sanctions tightened the screws on Moscow over its invasion of Ukraine.

Business • 28 Feb 22

HSBC has reported pretax profits of $18.9 billion for last year, up from the previous year's $8.8 billion

HSBC brings forward key target as profits double

HSBC has brought forward its key profitability target by a year and more than doubled its annual profits as expected bad loans from the Covid-19 pandemic failed to materialise.

Business • 22 Feb 22

The FCA said HSBC had made a string of failings, including inadequate monitoring of money laundering and terrorist financing scenarios until 2014

HSBC fined £64m for UK anti-money laundering failings

Britain's financial regulator has fined HSBC £63.95m for failings in its anti-money laundering processes.

Business • 17 Dec 21

HSBC is aiming to cut its exposure to thermal coal financing by at least 25% by 2025 and 50% by 2030.

HSBC says clients must have plan to exit coal by 2023

HSBC, Europe's leading banker to corporate Asia, has today laid out its long-awaited policy on financing thermal coal, and said it expected all its clients to have a plan in place to exit the fossil fuel by the end of 2023.

Business • 14 Dec 21

HSBC Holdings is planning to make Asia and wealth key pillars of growth

HSBC explores re-entry into India private banking

HSBC Holdings is ahead of its hiring targets for its Chinese retail wealth management business and is exploring re-entering India's private banking business, senior executives said.

Business • 09 Nov 21

Companies expect their workforces to increase by an average of 13% in the next 12 months

Businesses face a battle for talent

Businesses planning to expand their workforce over the next 12 months face a battle for talent.

Business • 05 Oct 21

HSBC Holdings has initiated legal proceedings against El Salvador for what it called a breach of the nation's investment treaty with the UK

HSBC initiates legal proceedings against El Salvador

HSBC Holdings said the banking group has initiated legal proceedings against El Salvador for what the company called a breach of the nation's investment treaty with the UK.

Business • 19 Aug 21

HSBC is to sell its French retail bank to Cerberus-backed My Money Group

HSBC takes $2.3 bn hit with sale of French retail bank

HSBC has agreed to sell its French retail bank to Cerberus-backed My Money Group in a deal which will mean a loss of around $2.3 billion for the British bank but end its long struggle to dispose of the business as it focuses on Asia.

Business • 18 Jun 21

HSBC's US wealth and personal banking business made a loss of $547m in 2020

HSBC exits loss-making US retail banking as part of Asi

HSBC said it is withdrawing from US mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.

Business • 27 May 21

HSBC said it has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers

HSBC chief executive says Bitcoin 'not for us'

HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its chief executive Noel Quinn told Reuters.

Business • 24 May 21

HSBC, Europe's biggest bank by assets, posted profit before tax of $5.78 billion for the three months ended March 30

HSBC pretax profit rises 79% on recovery from pandemic

HSBC Holdings has reported a significantly better-than-expected 79% rise in first quarter profit, as an improved economic outlook allowed the bank to release cash set aside against bad loans because of the coronavirus pandemic.

Business • 27 Apr 21

Europe's biggest bank by assets has reported profit before tax of $8.78 billion for 2020, down from $13.35 billion a year earlier

HSBC's 2020 profits tumble due to Covid-19 hit

HSBC Holdings has today abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management in Asia after the Covid-19 shock saw its annual profits drop sharply.

Business • 23 Feb 21

HSBC, Europe's biggest bank, is seeking to dispose of a business that has long underperformed

HSBC set to announce exit from US retail banking

HSBC is set to withdraw from US retail banking, a source familiar with the matter told Reuters today, as Europe's biggest bank seeks to dispose of a business that has long underperformed.

Business • 22 Feb 21

HSBC has reported a 35% slump in its quarterly profits

Lower interest rates hit HSBC's quarterly profits

HSBC Holdings has today signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rates to fee-based businesses.

Business • 27 Oct 20

Investors are fretting over HSBC's ability to continue doing business in China and Hong Kong, which make up a crucial portion of its growth

HSBC shares at 25-year low after China list report

Shares in banking giant HSBC plunged to a 25-year low today on fears it could be added to a Chinese list of firms deemed a threat to national security and following news it had been accused of allowing fraudulent activity to go unpunished.

Business • 21 Sep 20

The Covid-19 pandemic has prompted HSBC to set aside $3 billion in bad loan provisions in its first quarter earnings

HSBC revives plan for 35,000 jobs cuts delayed by Covid

HSBC is resuming a redundancy plan it put on ice after the coronavirus outbreak, and will cut around 35,000 jobs over the medium term, a memo seen by Reuters today showed.

Business • 17 Jun 20

HSBC said today that increased fraudulent activity could lead to 'potentially significant' credit losses

HSBC sees mounting losses as Covid-19 hits Q1 profits

HSBC Holdings has today warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.

Business • 28 Apr 20

The Bank of England is piling pressure on UK banks by requesting all major lenders scrap cash bonus payments to executives

British bank bosses take pay cuts amid virus fallout

Top executives at British lenders HSBC, Standard Chartered and NatWest have said they would take salary cuts after pressure on bankers to show solidarity with customers struggling to make ends meet during the coronavirus crisis.

Business • 09 Apr 20

HSBC's HK shareholders mull legal action over dividend

HSBC shareholders in Hong Kong are considering calling for an extraordinary meeting with management and taking possible legal action against the bank's decision to scrap dividend payments.

Business • 06 Apr 20

Noel Quinn, who joined HSBC in 1987, took interim charge of HSBC last August after the shock ousting of John Flint

HSBC names insider Quinn as CEO amid growth headwinds

HSBC Holdings has appointed Noel Quinn as chief executive officer, handing the insider and interim boss the reins of Europe's biggest bank and ending months of speculation an external candidate could get the role.

Business • 18 Mar 20

Deutsche Bank is splitting some of its trading operations across locations in Frankfurt after an employee tested positive

European banks broaden measures to combat virus spread

European banks expanded their emergency measures to combat the spread of the coronavirus, with Deutsche Bank splitting some of its trading operations across locations in Frankfurt after an employee tested positive.

Business • 10 Mar 20

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