Feb 20, 2018
HSBC: over the hump
The 3.5 per cent drop in the share price on Tuesday has not stopped HSBC beating most of its peers in recent years. Investors were rattled by a modest fourth-quarter earnings miss and HSBC's failure to buy back more shares. With headline capital at 14.5 per cent of risk-weighted assets that looked like an oversight. Second, interest rates must rise to lift an unimpressive net interest margin of 1.63 per cent. In 2017, 90 per cent of statutory profits before tax of £17.1bn came from Asia.
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