The Latest Breaking News from Noel Quinn

Chief executive’s departure sounds sensible enough but successor will inherit heavy strategic workload

Bank says it has started search for a successor as it reports quarterly profits beat forecasts

HSBC announced its agreement to sell its business in Argentina for $550 million, with a $1 billion pre-tax loss in the first quarter of 2024.

When HSBC acquired the UK arm of the collapsed Silicon Valley Bank last year, boss Noel Quinn talked up the importance of preserving its operational independence. The firm would keep its own separate office across town and staff would not be ferried into Canary Wharf. “It’s a unit we purchased and we want…

Bank increases staff bonus pool by 12% despite hit from exposure to China real estate slump

Record profits at HSBC, but China worries grows

HSBC said Wednesday it achieved "record profit" in 2023 as pre-tax gains soared by nearly 80 percent, with the banking giant also announcing further share buybacks.

London-listed HSBC's profits soared, thanks to elevated interest rates. But high costs and pains in Chinese real estate continue to put pressure on it.

HSBC saw profits in the third quarter more than double to $7.7 billion thanks to higher interest rates, figures likely to lead to fresh calls for banks to boost savings rates.

The chair of the Treasury Committee said the latest figures show major lenders are not sufficiently passing on higher interest rates to savers

HSBC poured fuel on the row about bank profits today with stonking profits of nearly £17 billion in just the last six months.