Page 2 - Hsbc

HSBC's Jan-June pretax profits from India jump 22% to $644 million

Foreign lender HSBC on Monday reported a 22 per cent jump in its pre-tax profit from Indian operations at USD 644 million for the January-June period of 2022. HSBC India had a profit before tax of USD 529 million in the year-ago period, the bank said in a statement. The global banking and markets business, which helps the credit needs of Indian corporates having a worldwide footprint and also includes the debt and equity capital markets team, reported a profit of USD 324 million in January-June 2022 as against USD 317 million in the year-ago period. The commercial banking PBT came at USD 156 million in the period against USD 146 million and the wealth and personal banking swung to black with a USD 33 million PBT as against a loss of USD 11 million. The corporate centre, which includes balance sheet and treasury management, saw an increase in the PBT at USD 131 million from USD 77 million in the year-ago period. In a statement, the bank said it has aggressive growth plans and is ..

Rs 14,820 crore tax demand raised under black money law, says govt

On questions on money deposited in Swiss banks by Indians, Sitharaman said: "There is no official estimate of amount of money deposited by Indian citizens and companies in Swiss banks".

HSBC to relaunch private banking business within a year, says CEO

The lucrative but very competitive Indian market has few foreign players in a segment catering to high-net-worth individuals

We are a global bridge for India Inc: CEO JPMorgan Chase Bank (India)

'As India emerges from the pandemic, and with the robust rebound in gross domestic product, we are seeing Corporate India using this period to deleverage'

HSBC sees slower rate hikes by RBI towards year-end on growth worries

HSBC is expecting the RBI to take repo rate to 6% by the middle of the next year, from 4.9% now

Climate adaption sounds easy; it's not for most people in the world

The now-notorious speech by HSBC's Stuart Kirk last month argued 'we can solve this through adaption,' claiming that climate change fears were overblown

Key lessons for investors from stock market's bear phase in 2010-2011

With the end of easy money, market's risk tolerance is low, and this seems unlikely to change in the near term

HSBC suspends senior executive who said climate change is being exaggerated

Kirk, who is global head of responsible investing at the bank's asset management division, was suspended pending an investigation into a speech he made at an event last week

HSBC and Ping An executives plan to discuss breakup proposal

HSBC earned 52% of last year's total revenue of $49.6 billion from Asia and 65% of its reported profit before tax came from the region

Small-caps steal a march over Sensex, Nifty; index zooms 35% in FY22

Most analysts expect the markets to remain choppy in FY23 amid multiple headwinds. The ongoing geopolitical crisis, they feel, will keep commodity prices elevated and market gains in check

Ukraine conflict: HSBC orders staff to drop Russian banks VTB, VEB

HSBC has little direct exposure in Russia, with its CFO telling reporters last Tuesday it has around 200 employees and annual revenues of $15 mn there, a fraction of its global income of $50 bn

HSBC sees coronavirus surge slowing India's economic growth this year

Economic cost will be there, but hopefully it will just be about a third or lower than the economic cost of previous waves, HSBC economist Pranjul Bhandari said

HSBC wins regulatory nod to take over insurance business in China

HSBC will buy the remaining 50% stake in HSBC Life China from The National Trust Ltd

IT services, telecom, financials: Sectors analysts are betting on for 2022

With the withdrawal of easy and cheap money globally, fundamentals would come to fore, analysts suggest. Therefore, one needs to stay invested in the right quality of stocks, analysts suggest

HSBC Mutual Fund jumps 11 spots on assets tally after L&T AMC buy

The Rs 3,188-crore purchase validates 'our view on India', says fund house

Asian clients must have plan to exit coal by end-2023, says HSBC

Coal is contentious for governments across Asia as they look to move away from the cheap and widely used, but carbon-intensive energy source

Forex cartel: EU antitrust regulators fine Barclays, HSBC, Credit Suisse

The latest investigation focused on foreign exchange (forex) spot trading of G10 currencies

More investors turning sour on emerging markets, says HSBC survey

More than one in four investors feel 'bearish' about emerging markets, an HSBC survey showed, as slowing economic growth and the spectre of tighter monetary policy in US clouds the outlook

Bosses of HSBC, Tata, Macquarie urge govts to do more for green transition

The leaders of Indian conglomerate Tata Sons, HSBC Holdings and Macquarie Group urged governments to get more involved in the green transition by providing incentives to develop new technology

CLSA, Goldman Sachs join growing chorus of India's 'expensive' valuations

CLSA, Goldman Sachs latest to highlight concerns