Tag: HSBC

Following a weekend auction, HSBC has emerged as the buyer of Silicon Valley Bank’s UK arm. HSBC’s ring-fenced subsidiary, HSBC UK Bank, has acquired Silicon Valley Bank (SVB) UK for 1 British pound ($1.2), according to a statement. SVB UK had loans and deposits of around 5.5 billion pounds and 6.7 billion pounds, respectively. For […]

Lender HSBC has raised its 2022 growth forecast for Vietnam from 7.6% to 8.1%, a prediction that if manifested would make the country the second fastest growing economy in ASEAN behind Malaysia. For Vietnam, 2022 was a year of booming recovery as the Southeast Asian nation appeared set to remain one of Asia’s outperformers thanks […]

HSBC continues to explore ways to improve profitability via market exits, this time with the potential sale of its Canada business. HSBC is reviewing strategic options for its Canada business, according to a statement from the bank. A review of the business is in its early stages, and one of the options would be the […]

HSBC is reportedly prepared to defend against Ping An’s proposal to break up the bank, with plans to announce a further acceleration of its strategy to shift resources to Asia. HSBC will defend against Ping An’s proposal to explore strategic options like a spinoff of the Asia business, according to a report citing unnamed sources. […]

Lender HSBC has raised its growth forecast for Vietnam from 6.6 percent to 6.9 percent thanks to the country’s broad-based recovery from two years of Covid-19 impacts. Fading Omicron risks and easing of restrictions have set the basis for Vietnam’s return to normalcy, with GDP growth in the second quarter hitting 7.7 percent year-on-year, a […]

The bank will support companies tapping opportunities within Asean’s growing digital economy in sectors such as e-commerce, AI and robotics, fintech, and payments platforms. HSBC Singapore has announced a S$200 million ($147.5 million) lending fund to support high-growth technology companies in Singapore that are looking to expand across Southeast Asia and further afield. The fund […]

HSBC wealth and personal banking chief Nunos Matos reportedly shared that the British lender was eyeing a reentry into private banking in India, noting that the market demands a strategic decision this year. After exiting the Indian private banking business in 2015 as part of the group’s strategic rejig, HSBC is considering a re-entry into […]