Update: Platform for growth
HSBC has reported H114 PBT broadly in line with consensus expectations, after taking account of underlying adjustments and significant items, with higher costs offset by a better performance in loan impairment charges and income from associates. The bank expects to benefit from higher interest rates and the results of the considerable restructuring and refocusing it has undertaken over the last three years. It has a strong balance sheet with a CET1 ratio of 11.3% and maintains its progressive dividend policy. The H114 dividend was $0.2 per share, the same as for the equivalent period in 2013.HSBC Holdings is a financial services holding company. Through its subsidiaries, Co. operates four businesses: Retail Banking and Wealth Management, which serves customers through four businesses: Retail Banking, Wealth Management, Asset Management, and Insurance; Commercial Banking, which provides working capital, term loans, payment services, and international trade facilitation; Global Banking and Markets, which delivers a range of transaction banking, financing, advisory, capital markets, and risk management services; and Global Private Banking, which provides a range of private banking services. At Dec 31 2017, Co. had total assets of US$2.52 trillion and deposits of US$69.92 trillion.
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