HSBC Reports a $1.1B Decline in Profit in Q1 2022 on Credit Charges
(HSBC) HSBC reported an after-tax profit of $3.4 billion in the first quarter of 2022, down by $1.1 billion from the previous year. The lower profit reflected credit losses and…
HSBC Onboards Wealthy Asian Clients Into the Metaverse With a New Fund
(Bloomberg) Banking giant HSBC has created a fund that seeks to catapult wealthy private banking clients in Hong Kong and Singapore into the $800 billion world of virtual realities. HSBC…
HSBC Enters the Metaverse in Partnership With The Sandbox
(The Sandbox) Banking giant HSBC has partnered with The Sandbox to make forays into the booming metaverse space. The partnership saw HSBC acquire a plot of land and virtual real…
HSBC Posts a $1.1 Billion YoY Jump in Profit in Q4 2021, Boosts Bonuses by 31%
(HSBC) HSBC posted a profit after tax of $2.0 billion in the fourth quarter of 2021, an increase of $1.1 billion from the prior year. The bank’s profit was earned…
Blackrock and HSBC Kept Evergrande Afloat in the Wake of Its Debt Crisis
(Financial Times) BlackRock and HSBC increased their holdings in Evergrande bonds a few months before the liquidity crisis hit the Chinese developer. Fig: Evergrande Bond Prices BlackRock, through its high-yield fund,…
HSBC Reports $8.4 Billion Half –Year Profits Despite a $1.2 Billion Decline in Revenue
(HSBC) HSBC’s net revenue for the half-year 2021 was $25.6 million, a reduction compared to $26.7 million reported in the same period last year. The company reported diluted earnings per…
HSBC to Cut its U.S Branches by More than Half as it Eyes Wealthy Clients
HSBC Holdings Plc seeks to cut its retail footprint in the U.S by selling 90 of its 148 branches, according to Wall Street Journal. The bank also seeks to exit…
HSBC Releases Q1 Results. Profit after Tax Jumps 82%
HSBC reported a profit after tax of $4.6 billion in the first quarter, up 82% from the same quarter last year, according to the company’s press release. The company released…
HSBC Bans MicroStrategy’s Stock Buys on its Platform over Risk Concerns
HSBC has barred customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc. stock, according to Reuters. The bank referred to MicroStrategy stock as a…
HSBC will Delist from Euronext Paris Next Month
HSBC Holdings plc (HSBC) will delist its shares from Euronext Paris on December 22, 2020, following approval by the Euronext Paris S.A., according to the company’s press release. HSBC's decision…