Category: FINANCE

Hang Seng in Hong Kong drop by 41%. Hong Kong (AsiaNews) - The 2016 HSBC (Hong Kong and Shanghai Bank) profits have plummeted by 62% in one year according to President Douglas Flint. Announcing the drop today he insisted it was "quite satisfactory" given ... ( read original story ...)

HONG KONG/LONDON (Reuters) - HSBC Holdings reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. ( read original story ...)

HONG KONG -- Pressing ahead with a policy of weeding out risk, Hong Kong-based Hang Seng Bank on Tuesday reported financial results that were broadly in line with market expectations. Net profit attributable to shareholders fell 41% in 2016 to 16.21 ... ( read original story ...)

Feb 21 Hang Seng Bank Ltd: * FY attributable profit down 41% to HK$16.21 billion * Fourth interim dividend of HK$2.80 per share * FY net interest income grew by 5% to HK$22.25 billion * At 31 December 2016, our common equity tier 1 capital ratio was 16.6% ... ( read original story ...)

Agarwal said the downside risk for Hang Seng Bank would be a sharp increase in bad loans in Hong Kong and China. “Also, a very high interest rate increase would be likely to cause a sharp property price correction in Hong Kong, thereby taking up risk ... ( read original story ...)

In addition, Wu said Hang Seng Bank has nearly 80 per cent of its loans concentrated in Hong Kong’s local market, the highest among peers so it would be less affected by mainland bad debt than peers such as Bank of East Asia and Bank of China (Hong Kong ... ( read original story ...)

HONG KONG/LONDON HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. ( read original story ...)

HONG KONG--Hang Seng Bank Ltd. (>> Hang Seng Bank) Tuesday reported a 41% drop in its 2016 net profit partly due to the absence of disposal gain a year earlier, as well as weaker net fee income. The Hong Kong-listed lender, which is controlled by HSBC ... ( read original story ...)

Hong Kong stocks crept higher in cautious trade on Tuesday morning, with investors preparing for a batch of highly-anticipated corporate earnings due later in the day, including results from top lender HSBC and its subsidiary Hang Seng Bank. The Hang Seng ... ( read original story ...)

HSBC also pointed out it managed to increase market share in Hong Kong and Singapore. The bank confirmed last year it would keep its European headquarters in London, despite Britain's vote to leave the European Union. But announcing the results on Tuesday ... ( read original story ...)

HONG KONG HSBC Holdings (HSBA.L) reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates due to one-time charges related to some businesses, and announced a new $1 billion share buy-back. Europe's biggest bank by ... ( read original story ...)

HONG KONG Feb 21 Shares in HSBC Holdings Plc were down 3.5 percent in afternoon trading in Hong Kong on Tuesday after the bank posted a bigger-than-expected drop in its 2016 pre-tax profit. HSBC reported a 62 percent slump in annual pre-tax profit that ... ( read original story ...)

Hong Kong: Global banking giant HSBC said Tuesday that net profit for 2016 fell 82 percent from the previous year, calling it a period remembered for its "largely unexpected economic and political events". The net profit of $2.48 billion compared with $13 ... ( read original story ...)

HONG KONG HSBC Holdings' (HSBA.L) 2016 pre-tax profit fell 62 percent, below analysts' estimates, as it grappled with slowing economic growth in its core markets of Hong Kong and Britain and took one-time charges related to some of its businesses. ( read original story ...)