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HBC.N

ISIN: US4042804066
SEDOL: 2400341

Rating:

HOLD

Target Price:

56.57 USD

Investment Horizon:

6 to 24 months
11th May 2009 View Report   Download

Company News Alert

On 11 May 2009, HSBC Holdings PLC (HSBC) issued its 1Q 09 trading update, noting y-o-y growth in pre-tax profit, as fair-value gains on the company's own debt were complemented by strong results from the Global Banking and Markets business. However, impairment charges rose y-o-y in 1Q 09. Looking ahead, we remain concerned about the likely impact of the worldwide economic downturn, as well as the prospects for further writedowns as a result of rising unemployment…

2nd Mar 2009 View Report   Download

FY 2008 News Alert

HSBC Holdings PLC (HSBC) reported a marginal y-o-y decline in its top-line, but the bottom-line fell sharply as a result of higher provisions. Meanwhile, the bank has announced that it plans to raise approximately US$18 bn through a rights issue in order to shore up its balance sheet and allow it room for further acquisitions. However, considering the…

16th Jan 2009 View Report   Download

Company News Alert

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On 15 December 2008, HSBC Holdings PLC (HSBC) confirmed earlier media reports that it has around US$1 bn in exposure to Bernard L. Madoff Investment Securities LLC’s (Madoff) investment funds. Considering this, as well as our ongoing concerns about the impact of the slowing global economy on impairment charges, we maintain our…

15th Dec 2008 View Report   Download

Company News Alert

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On 15 December 2008, HSBC Holdings PLC (HSBC) confirmed earlier media reports that it has around US$1 bn in exposure to Bernard L. Madoff Investment Securities LLC’s (Madoff) investment funds. Considering this, as well as our ongoing concerns about the impact of the slowing global economy on impairment charges, we maintain our HOLD rating for the ADR. The Hong Kong dollar is pegged to the US dollar....

8th Dec 2008 View Report   Download

1H 08 Update Report

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HSBC reported marginal growth in total operating income in 1H 08, driven by rising Net Interest Income (NII) and net fee income. The bank’s Personal Financial Services (PFS) segment reported weak results, due to higher impairment charges (particularly in North America)....