HSBC

Maltese Editorials’ Perspectives

Times of Malta says that an upcoming census will be an essential tool for policymakers. The Independent says that Robert Abela is not taking action against Minister Carmelo Abela, who…

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HSBC to Raise Pay for Junior Staff in key hubs as Banks Battles Burnout

HSBC Holdings Plc’s global banking unit will raise fixed pay for junior investment bankers in key hubs and hire more of them to share the workload, becoming the latest global…

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HSBC pretax profit rises 79% on recovery from pandemic damage

HSBC Holdings PLC on Tuesday 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…

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EXCLUSIVE-HSBC moves more than 1,200 UK staff to permanent home working

LONDON, April 7 (Reuters) - HSBC is moving more than 1,200 staff in Britain to permanent working from home contracts, in one of the strongest indications yet of how banks…

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HSBC plans to nearly halve office space over long term – Malta subsidiary sees 66% drop in profit

International banking giant HSBC said that it plans to nearly halve its office space globally over the long term as part of a renewed cost-cutting drive set out on Tuesday, in…

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UPDATED: HSBC reshuffles senior management roles

HSBC is set to withdraw from U.S. retail banking, a source familiar with the matter told Reuters on Monday, as Europe's biggest bank seeks to dispose of a business that…

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Malta: HSBC Malta confirms introduction of criticized €5 fee

HSBC Malta will be introducing the much-criticsed Customer Account Fee. The bank announced that following an extended consultation period, it will be proceeding with the introduction of a monthly Customer…

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Ex-Hong Kong lawmaker says some bank accounts unfrozen, no longer trusts HSBC

HONG KONG (Reuters) - Former Hong Kong democracy lawmaker and activist Ted Hui, who fled to Britain after facing criminal charges, said some of his bank accounts had been unfrozen…

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HSBC considering complete exit from US retail banking

HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business,…

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HSBC plc to accelerate plans to shrink in size and slash costs further

HSBC Holdings PLC signalled it would embark on a transformation of its business model, seeking to flip its main source of income from interest rates to fee-based businesses. It also…

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HSBC targets net zero emissions by 2050, earmarks $1 trln green financing

HSBC will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients…

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HSBC halts return to office plan in Britain

HSBC has paused its plan to return more staff to office working in Britain, in common with other financial firms after Prime Minister Boris Johnson on Tuesday urged workers to…

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UPDATED: HSBC, StanChart shares fall to 22-year lows on reports of illicit money flows

HSBC and Standard Chartered's Hong Kong shares dropped on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite…

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HSBC accelerates 35,000 job cuts amid Covid-19 profit plunge

HSBC is to accelerate plans to cut 35,000 jobs globally after the Covid-19 crisis forced the bank to put aside another $3.8bn (£2.9bn) to cover bad debts. The London-headquartered bank…

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HSBC first-half profit plunges 65%, warns loan losses could hit $13 bln

HSBC Holdings PLC warned of rising bad debt charges and a falling core capital ratio after posting a higher-than-expected 65% tumble in first-half pre-tax profit as the coronavirus pandemic hit…

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HSBC denies Chinese media reports that it ‘framed’ Huawei

HSBC on Saturday denied Chinese media reports that it had "framed" Huawei Technologies and played a role in the arrest of the chief financial officer (CFO) of the world's biggest…

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HSBC to invest further in China amid political strife over Hong Kong law

HSBC Holdings Plc said on Friday it would make new investments in its wealth management and insurance operations in mainland China. The announcement comes at a time when the UK-headquartered…

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Employee union Unite says to oppose compulsory job losses at HSBC

Employee union Unite said it will oppose any compulsory job losses within HSBC and "work vigorously to ensure staff are heard and their jobs protected", after the bank dusted off…

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HSBC to resume cutting around 35,000 jobs

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

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HSBC mulling significant restructuring, including sale or closure of Malta operations – FT

Updated with HSBC Bank Malta PLC Company Announcement International lender HSBC is looking at all possible options as it draws up the bank’s biggest restructuring process in its history. Before the…

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HSBC pauses worldwide job cuts despite pre-tax profit drop by 48%

International bank HSBC has paused a planned restructuring programme which would have included the termination of some 35,000 jobs around the world. The initiative had been announced this February, and…

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HSBC to push on with overhaul ‘wherever possible’

HSBC will press ahead with plans to shift capital from underperforming businesses, cut costs and strip out layers of management, despite problems caused by the coronavirus pandemic. Chief Executive Noel…

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HSBC is evacuates floor at Canary Wharf office tower after employee tests positive for Coronavirus

HSBC has evacuated a floor of its Canary Wharf office tower after an employee was confirmed to have caught coronavirus. The bank has sent 100 people home and ordered a…

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Malta needs to provide evidence that it is addressing its shortcomings – HSBC CEO – The Headlines – MaltaToday

Maltatoday’s midweek edition quotes HSBC Malta’s CEO Andrew Beane, who yesterday insisted that it was crucial that Malta to start providing evidence and clear outcomes in its efforts to address…

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HSBC to shrink operations, cut 35,000 jobs in radical overhaul

HSBC has revealed it will cut 35,000 jobs over the next three years as part of a widespread overhaul, HSBC has announced its most radical overhaul in years, unveiling plans…

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HSBC UK staff morale low in view of job cuts

Morale of the staff working at HSBC (in the UK) is low after its boss was ousted and staff prepare for a wave of job cuts, according to an internal…

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HSBC kicks off year with Hong Kong branches closed, vandalized

HSBC is being drawn into Hong Kong’s political turmoil with protesters attacking some of its branches and graffiti daubed on the famous pair of lions that guard its city-center headquarters.…

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HSBC Swiss unit to pay $192 million in US tax fine

The Swiss branch of HSBC's private bank has been fined almost CHF200 million by the US Department of Justice (DoJ) for having helped American clients evade tax between 2000 and 2010.…

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HSBC to bring in single overdraft rate of 40% for UK customers

HSBC is to bring in a single overdraft rate of 39.9% for UK customers from March 2020, as much as quadrupling the rate it charges some customers. However, the bank…

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HSBC set to replace investment banking chief

HSBC is planning to replace the long-serving head of its investment bank ahead of a big restructuring that will result in large-scale job losses at the unit he has…

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HSBC cut jobs in UAE as bank look to reduce costs

HSBC Holdings has laid off about 40 bankers in the United Arab Emirates (UAE) and Emirates NBD is cutting around 100 jobs, as banks in the Arab world’s second-biggest economy…

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HSBC restructuring plans fuel fears of job cuts

HSBC is planning to restructure its business after the banking giant said its performance in parts of Europe and the US was "not acceptable". Interim chief executive Noel Quinn said…

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HSBC warns of ‘challenging’ outlook as profit falls

HSBC saw an 18% drop in pre-tax profit during the third quarter, as the bank warned of challenges ahead. Europe's largest bank said profit before tax hit $4.8bn (£3.8bn) in…

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HSBC to close down seven branches in Malta

HSBC announced on Thursday it would be closing seven branches in Malta and combine another two into a new Qormi flagship it will be open. It also said it would…

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HSBC cost-cutting drive threatens 10,000 jobs – FT

HSBC has embarked on a cost-cutting drive that threatens up to 10,000 jobs, as its new interim chief executive Noel Quinn seeks to make his mark on the bank. The…

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HSBC plans sale of French retail banking business

HSBC is planning to exit its French retail banking business under interim chief executive Noel Quinn, the Wall Street Journal reported, citing people familiar with the matter. The likeliest buyer…

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HSBC Global Asset Management names Nicolas Moreau as CEO

HSBC Global Asset Management has appointed Nicolas Moreau as its new chief executive, the firm said in a statement, adding that he will join in September. Moreau, former head of…

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HSBC chief executive resigns in top level reshuffle

John Flint, the chief executive of HSBC has stepped down after the bank said it needed a change in leadership to address a "challenging global environment". Flint is giving up…

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EU antitrust fines in the pipeline for seven banks

Reuters reports that Barclays, Citigroup, HSBC, JPMorgan, Royal Bank of Scotland, UBS and a small Japanese bank and three other banks are set to be fined by EU antitrust regulators…

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HSBC appoints new CEO for Middle East, North Africa and Turkey

HSBC has appointed Martin Tricaud as new regional chief executive officer for the Middle East, North Africa and Turkey (MENAT) region, with effect from June, 1. He succeeds Georges Elhedery…

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HSBC pulls out investment from Israeli arms firm Elbit Systems

HSBC has pulled out its investments in Israeli arms firm, Elbit Systems, after a campaign by pro-Palestinian activists. Sources within HSBC confirmed the move to Al Jazeera on Thursday, but…

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Geigold’s threat about HSBC’s position in Malta, irks Maltese politicians across all shades of the spectrum

German MEP Sven Geigold has found no backing from the Maltese Greens on his self-declared crusade to force HSBC out of Malta. All Maltese media report a number of reactions…

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MEP Giegold to campaign for HSBC to quit Malta

HSBC must close its business in Malta if the tiny European Union state with a reputation for a lax approach to financial regulation does not do more to confront the…

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HSBC and ING complete first transaction using Blockchain technology

HSBC Holdings Plc announced that it had performed the world’s first trade finance transaction using blockchain technology, a major step in boosting efficiency and reducing errors in the multi-trillion-dollar funding of international…

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