HSBC Holdings

HSBC Holdings Plc engages in the provision of banking and financial services. It operates through the following business segments: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, Global Private Banking, and Corporate Centre. The Retail Banking and Wealth Management segment consists of retail banking, wealth management, asset management, and insurance. The Commercial Banking segment offers banking products and services. The Global Banking and Markets segment includes transaction banking, financing, advisory, capital markets, and risk management services. The Global Private Banking offers transaction banking, financing, advisory, capital markets and risk management services to high net worth individuals and families. The Corporate Centre segment is comprises of central treasury, including balance sheet management, other legacy businesses, interests in associates and joint ventures, central stewardship costs and the UK bank levy. The company was founded on January 1, 1959 and is headquartered in London, the United Kingdom.

Earnings data Q1 2021

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Founded in 1865 to finance trade between Asia and the West, today HSBC is one of the world’s largest banking and financial services organisations serving around 46 million customers. Their aim is to be acknowledged as the world’s leading and most respected international bank.

HSBC witnesses a decline in expenses and revenues in the first quarter of 2020.

HSBC Q1 Pre-Tax Profit Declines Y/Y on Coronavirus Woes

HSBC is ramping up the amount of money it is setting aside to cover bad loans as its profits plummet because of the coronavirus pandemic. It is also suspending plans to lay off tens of thousands of staff.

HSBC hits pause on mass layoffs after profits plunge by nearly 50%

HSBC (LON: HSBA) released its Q1 earnings on Tuesday that fell short of analysts’ estimates. The bank said that the crash in oil prices and the Coronavirus pandemic is expected to fuel loan losses in 2020.

HSBC’s pre-tax profit tanks 48% in the first quarter as COVID-19 weighs on performance

Europe’s biggest bank by assets has joined other major lenders bracing themselves for a wave of bad loans because of the coronavirus pandemic.

HSBC Profits Plunge As Europe’s Biggest Bank Faces Coronavirus Hit

HSBC Holdings PLC  on Tuesday 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.

HSBC sees mounting credit losses after pandemic halves first-quarter profit

HSBC released its first financial report card since the coronavirus outbreak.

HSBC's pre-tax profit falls 48% year-over-year in the first quarter to $3.2 billion

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

HSBC to push on with overhaul 'wherever possible' despite crisis

HSBC  has reshuffled the leadership of its investment banking division, according to a memo seen by Reuters on Monday, as Chief Executive Noel Quinn presses ahead with changes at the top despite having last month paused a wider job cut programme.

HSBC reshuffles top investment bank jobs: memo

HSBC reports itself to the Australian financial regulator for potential breaches of anti-money laundering rules by its subsidiary in Australia.

HSBC Admits of Possible Anti-Money Laundering Law Breaches

Credit Suisse lowered target prices on U.K. banks and downgraded HSBC HSBC, +1.60% HSBA, +1.36% to neutral from outperform.

Credit Suisse lowers target prices on U.K. banks and downgrades HSBC

HSBC  has reported itself to Australia's financial regulator for possible breaches of anti-money laundering rules, the bank disclosed in a regulatory filing by its Australian subsidiary.

HSBC reports potential money laundering breaches in Australia

Strong capital and liquidity profile and earnings-generation capability keep HSBC well-poised to deal with the pandemic-led uncertainties.

HSBC Outlook Downgraded by Fitch on Coronavirus Concerns

HSBC  shareholders in Hong Kong are calling for an extraordinary meeting with the bank's management and considering legal action against its decision to scrap dividend payments.

HSBC Hong Kong shareholders mull legal action over dividend suspension

HSBC  shareholders in Hong Kong are considering calling for an extraordinary meeting with management and taking possible legal action against the bank's decision to scrap dividend payments.

HSBC HK shareholders mull legal action over dividend suspension

The banking giant is also halting repurchases of its ordinary shares.

HSBC Cancels Remaining 2020 Dividends

The increasing spread of global lockdowns could impact HSBC Holdings’ (NYSE: HSBC) earnings enough to mean two years of an uncovered dividend, according to BofA Securities.

BofA Downgrades HSBC, But Says There's Support For Shares

Citigroup

Deutsche Bank

Goldman Sachs

Morgan Stanley

Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back.

Big banks reassure staff about potential job cuts

HSBC has said it is delaying the "vast majority" of its planned redundancies to deal with the fallout from the coronavirus pandemic, a memo sent to staff seen by Reuters said.

HSBC delays job cuts in face of coronavirus

Barclays

First Citizens BancShares

Fifth Third Bancorp

Lloyds Banking Group

Northwest Bancshares

Royal Bank of Scotland

United Bankshares

UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.

Banks, regulators move to protect customers from wave of coronavirus scams in UK, U.S.

The BoE postpones unimportant supervisory matters and eases operational burdens for banks to better manage coronavirus outbreak-related challenges.

BoE Cancels Stress Test for Major Banks on Coronavirus Woes

One of Noel Quinn's first jobs as chief executive of HSBC  will be to review the radical revamp he unveiled last month as interim boss, a senior source at the bank said.

Exclusive: HSBC CEO Quinn faces strategy rethink as coronavirus bites - source

HSBC  said on Tuesday it has appointed Noel Quinn as its chief executive officer, effective immediately.

HSBC appoints Noel Quinn as CEO

New Zealand's Commerce Commission said on Wednesday that it has issued a warning to HSBC Holdings Plc  over its failure to comply with the information disclosure requirements.

NZ Commerce Commission issues warning to HSBC over compliance failure

HSBC's U.S. subsidiary plans to shut eight branches in South Florida to meet growing customer demand for digitalization.

HSBC to Shut Branches Amid Growing Need for Digitalization

HSBC Holdings plc (NYSE: HSBC) on Thursday emptied an entire floor in its Canary Wharf office in London after an employee tested positive for the novel coronavirus (COVID-19), the Guardian reported.

News for HSBC Holdings Stock (HSBC)