Proactiveinvestors United Kingdom HSBC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom HSBC RSS feed en Mon, 27 May 2019 08:06:14 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190524070009_14086079/ Fri, 24 May 2019 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190524070009_14086079/ <![CDATA[RNS press release - First interim dividend 2019 - scrip alternative ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190523100005_14085152/ Thu, 23 May 2019 10:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190523100005_14085152/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190522164518_14084072/ Wed, 22 May 2019 16:45:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190522164518_14084072/ <![CDATA[RNS press release - Issuance of Senior Unsecured Notes ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190522154003_14084007/ Wed, 22 May 2019 15:40:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190522154003_14084007/ <![CDATA[RNS press release - Pre Stabilisation Notice ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190521100112_14081740/ Tue, 21 May 2019 10:01:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190521100112_14081740/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190520070022_14079331/ Mon, 20 May 2019 07:00:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190520070022_14079331/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190517122610_14078721/ Fri, 17 May 2019 12:26:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190517122610_14078721/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190517095934_14078331/ Fri, 17 May 2019 09:59:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190517095934_14078331/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190516104001_14076705/ Thu, 16 May 2019 10:40:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190516104001_14076705/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190515164001_14075504/ Wed, 15 May 2019 16:40:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190515164001_14075504/ <![CDATA[RNS press release - HSBC Holdings plc Base Prospectus Supplement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190514160001_14073804/ Tue, 14 May 2019 16:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190514160001_14073804/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190513163001_14072096/ Mon, 13 May 2019 16:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190513163001_14072096/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190509174921_14068868/ Thu, 09 May 2019 17:49:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190509174921_14068868/ <![CDATA[News - HSBC profits beat market forecasts on lower costs and strong Asia performance ]]> https://www.proactiveinvestors.co.uk/companies/news/219638/hsbc-profits-beat-market-forecasts-on-lower-costs-and-strong-asia-performance-219638.html HSBC Holdings PLC (LON:HSBA) reported a 31% increase in first-quarter profit, boosted by a strong performance in its core Asian business and lower costs.

Pre-tax profit rose to US$6.21bn in the three months to the end of March from US$4.97bn a year ago, beating analysts’ expectations of US$5.58bn.

Revenue increased to US$14.4bn from US$13.7bn, led by growth in the retail banking and wealth management division (RBWN) and commercial banking unit (CMB) in Asia.

READ: HSBC tells shareholders to vote against resolution to change controversial pension clawback policy

RBWN revenue increased 10% and CMB gained 11%. 

The global banking and markets business saw revenue edge up 3% but the global private banking division dropped 4%, mainly due to a poor performance in the US.

Absence of legal and regulatory expenses boost numbers

Operating expenses fell 12%, supported by one-off sales in the retail and commercial businesses as well as the absence of legal and regulatory costs that the bank booked a year ago.

“We are proactively managing costs and investment in line with this more uncertain outlook, and will continue to do so,” said chief executive John Flint.

The bank’s core capital ratio, a key measure of financial strength, climbed to 14.3% at the end of March from 14.0% at the end of 2018.

The Asia operations delivered a 5% increase in pre-tax profit to US$5bn, accounting for 81% of the group’s total.

The North American business swung to a pre-tax profit of US$379mln in the quarter from a loss of US$596mln last year as retail customer numbers increased and the lender continued to capitalise on its international network.

HSBC said it planned to make further investments in Asia to aid growth while the turnaround plan for its US business was on track but remained its “most challenging strategic priority”.

Shares gained 2.2% to 683p in morning trading.

"Undoubtedly positive numbers", says Hargreaves Lansdown

"HSBC results are never straightforward, and we could point to the presence of exceptionals boosting numbers and challenges in the investment bank as potential spoilers," said Nicholas Hyett, equity analyst at Hargreaves Lansdown.

"But when you employ 238,000+ staff across the globe, it’s never going to be the case that everything’s shining at the same time.

"These are, in our view, undoubtedly positive numbers and if HSBC can continue delivering its current returns and growing capital we see little reason returns to shareholders won’t follow suit.”

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Fri, 03 May 2019 07:51:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219638/hsbc-profits-beat-market-forecasts-on-lower-costs-and-strong-asia-performance-219638.html
<![CDATA[RNS press release - 1Q19 Earnings Release - Audio Webcast & Conf Call ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190503070005_14061798/ Fri, 03 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190503070005_14061798/ <![CDATA[RNS press release - HSBC Holdings plc 1Q19 Earnings Release ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190503070002_14061752/ Fri, 03 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190503070002_14061752/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190430163001_14057964/ Tue, 30 Apr 2019 16:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190430163001_14057964/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190424131844_14050451/ Wed, 24 Apr 2019 13:18:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190424131844_14050451/ <![CDATA[RNS press release - Overseas Regulatory Announcement- Secretary change ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190418093502_14046220/ Thu, 18 Apr 2019 09:35:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190418093502_14046220/ <![CDATA[RNS press release - Overseas Regulatory Announcement - Board Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190416095834_14042878/ Tue, 16 Apr 2019 09:58:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190416095834_14042878/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412170931_14040076/ Fri, 12 Apr 2019 17:09:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412170931_14040076/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412150003_14039894/ Fri, 12 Apr 2019 15:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412150003_14039894/ <![CDATA[News - HSBC tells shareholders to vote against resolution to change controversial pension clawback policy ]]> https://www.proactiveinvestors.co.uk/companies/news/218503/hsbc-tells-shareholders-to-vote-against-resolution-to-change-controversial-pension-clawback-policy-218503.html HSBC Holdings PLC (LON:HSBA) has urged shareholders to vote against a proposal to change a practice that involves reducing an employee’s pension payments when they receive the state pension.

The Midland Clawback Campaign Group has been battling against the company’s so-called “clawback” policy, which allows employers to deduct from company pension payments some or all of the basic state pension amount.

READ: HSBC weak as 2018 results miss forecasts following a drop in fourth-quarter profit

In an AGM statement on Friday, HSBC said: “While we appreciate the Midland Clawback Campaign Group for their constructive engagement with Ian Stuart, chief executive of HSBC UK, we cannot support this resolution and we recommend that shareholders vote against it.”

The bank added: “We have given it a significant amount of time and consideration and have listened carefully to the points raised by the campaign group as well as those made by MPs on behalf of their constituents.

“But we must be fair and equitable to all remaining 140,000 members of the UK pension scheme, more than half of whom are defined contribution members, and not just to those final salary members who would benefit if the state deduction ceased.”

HSBC confirmed that three executive board members have agreed to a reduction in their pension allowance following pressure from investors and other stakeholders over executive pay.

The directors will see their pension allowance cut to 10% from 30% of base salary.

The banks said new directors on the board will also see a reduction of cash in lieu of pension to 10% of salary.

The move follows a backlash over group chief executive John Flint’s pay package, which was this year due to include a cash payment of £372,000 in lieu of a pension contribution, equivalent to 30% of his fixed salary.

Under the revised remuneration policy, the amount will be reduced by £248,000 to £124,000.  

HSBC has been criticised for breaking new executive pay guidelines under the UK corporate governance code, which were released last July. The guidelines say executive pension contributions should be in line with those of a company’s workforce or explain why they are not.

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Fri, 12 Apr 2019 12:31:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218503/hsbc-tells-shareholders-to-vote-against-resolution-to-change-controversial-pension-clawback-policy-218503.html
<![CDATA[RNS press release - AGM Statements ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412110515_14039536/ Fri, 12 Apr 2019 11:05:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190412110515_14039536/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190410170003_14036628/ Wed, 10 Apr 2019 17:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190410170003_14036628/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190409163001_14034865/ Tue, 09 Apr 2019 16:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190409163001_14034865/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190409112248_14034431/ Tue, 09 Apr 2019 11:22:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190409112248_14034431/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190403070006_14026423/ Wed, 03 Apr 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190403070006_14026423/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190402174355_14026227/ Tue, 02 Apr 2019 17:43:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190402174355_14026227/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190402123015_14025770/ Tue, 02 Apr 2019 12:30:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190402123015_14025770/ <![CDATA[RNS press release - TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190401161556_14024162/ Mon, 01 Apr 2019 16:15:56 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190401161556_14024162/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190329163005_14022103/ Fri, 29 Mar 2019 16:30:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190329163005_14022103/ <![CDATA[RNS press release - PUBLICATION OF BASE PROSPECTUS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190329131502_14021774/ Fri, 29 Mar 2019 13:15:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190329131502_14021774/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327132221_14018072/ Wed, 27 Mar 2019 13:22:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327132221_14018072/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327131721_14018063/ Wed, 27 Mar 2019 13:17:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327131721_14018063/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327130448_14018054/ Wed, 27 Mar 2019 13:04:48 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327130448_14018054/ <![CDATA[RNS press release - Amendment - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327125005_14018043/ Wed, 27 Mar 2019 12:50:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327125005_14018043/ <![CDATA[RNS press release - Scrip Dividend - Issue Announcement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327093001_14017576/ Wed, 27 Mar 2019 09:30:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190327093001_14017576/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325172646_14014971/ Mon, 25 Mar 2019 17:26:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325172646_14014971/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325160643_14014849/ Mon, 25 Mar 2019 16:06:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325160643_14014849/ <![CDATA[RNS press release - Scrip Dividend - Exchange Rate ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325131003_14014573/ Mon, 25 Mar 2019 13:10:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325131003_14014573/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070025_14013466/ Mon, 25 Mar 2019 07:00:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070025_14013466/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070021_14013465/ Mon, 25 Mar 2019 07:00:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070021_14013465/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070018_14013458/ Mon, 25 Mar 2019 07:00:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070018_14013458/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070013_14013430/ Mon, 25 Mar 2019 07:00:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190325070013_14013430/ <![CDATA[RNS press release - Holding(s) in Company - Amendment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190322142718_14012922/ Fri, 22 Mar 2019 14:27:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190322142718_14012922/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190322115503_14012698/ Fri, 22 Mar 2019 11:55:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190322115503_14012698/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190321155912_14011387/ Thu, 21 Mar 2019 15:59:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190321155912_14011387/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190320170005_14009742/ Wed, 20 Mar 2019 17:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190320170005_14009742/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190320070010_14008324/ Wed, 20 Mar 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3429/LSE20190320070010_14008324/