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HSBC's new $3 billion share buyback followed a $5 billion buyback announced earlier this year

HSBC offers $3 billion buyback, upgrades income outlook

HSBC Holdings has today announced a $3 billion share buyback and upgraded its income outlook, as the bank showed progress in its efforts to shield its business from global interest rate cuts that may hit lending revenue.

Business • 31 Jul 24

HSBC, the 160-year-old lender, has traditionally appointed its CEO from within

HSBC appoints insider Georges Elhedery as CEO

HSBC Holdings said today that its chief financial officer Georges Elhedery will become group CEO - a choice that highlights the global lender's preference for continuity as it looks to kickstart growth.

Business • 17 Jul 24

Noel Quinn joined HSBC in 1987 and was named the chief executive of the bank in March 2020

HSBC chief executive Quinn announces surprise retirement

HSBC said today that its chief executive Noel Quinn will retire - a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.

Business • 30 Apr 24

HSBC's Hong Kong shares fell after its cautious outlook left investors pondering whether the rates boost may already have peaked

HSBC's quarterly profits soar by 92%

HSBC's quarterly profit surged 92% as rising interest rates swelled net interest income, but its Hong Kong shares fell 2% as a cautious outlook left investors pondering whether the rates boost may already have peaked.

Business • 21 Feb 23

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 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

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

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

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

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

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

HSBC has reported pre-tax profit of $4.8 billion for the third quarter

HSBC warns of restructuring pain as outlook darkens

HSBC Holdings has dropped its 2020 profit target, reported a sharp fall in earnings and warned of a costly restructuring, as interim CEO Noel Quinn seeks to tackle its problems head-on in his bid for the role.

Business • 29 Oct 19

HSBC had 237,685 full-time employees at the end of June 2019

HSBC to cut up to 10,000 jobs in drive to cut costs: FT

HSBC Holdings is planning to cut up to 10,000 jobs, more than 4% of its workforce, as interim chief executive Noel Quinn seeks to reduce costs across the banking group, the Financial Times has reported.

Business • 07 Oct 19

Noel Quinn