HSBC sees $1.8 billion in revamp related costs as new CEO looks to boost returns
HSBC expects to incur $1.8 billion in expenses by the end of next year related to an overhaul initiated by its new CEO to cut long-term costs and boost profits while navigating diverging interest rate policies and geopolitical turmoil.
The London-headquartered bank plans to save $300 million this year and aims to reduce its cost base by $1.5 billion by the ...
HSBC's headcount fell 3% last year and its staff bonus pool hardly changed as a new CEO sharpened focus on costs and ...
The London-based bank, which generates much of its profit in Asia, said underlying profit before tax declined 0.9% to $1.05 ...
Europe's largest lender HSBC on Wednesday announced a share buyback of up to $2 billion as its annual pre-tax profit rose 6.5 ...
HSBC’s pre-tax profit nearly doubled to $2.3 billion, recovering from a $3 billion impairment charge in the same period last ...
Another major bank is walking back climate commitments made when ESG was all the rage. HSBC on Wednesday delayed by two decades a goal announced during the pandemic to eliminate greenhouse-gas ...
Banking giant HSBC said Wednesday that CEO Georges Elhedery's plan since October to simplify the company's structure and geographic setup will yield $1.5 billion in annual cost savings by the end of ...
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