Oct 27, 2020
HSBC: deposit slip
In markets like Japan, that strategy has helped offset costs for local banks. In HSBC's main markets including Hong Kong, low-cost digital banking services are expanding aggressively. The Hong Kong-listed shares gained 5 per cent, on a lower than expected profit decline. Shares are down 45 per cent this year at an over two-decade low, underperforming local peer Bank of China Hong Kong. Falling net interest margins, down 36 basis points from the third quarter of 2019 to 1.2 per cent in the third quarter, should continue to weigh on its operating income in the coming year.
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