Aug 1, 2022
HSBC: Ping An break-up call creates dividend dilemma
HSBC beat forecasts with first-half profits on Monday. HSBC raised its near-term return on tangible equity goal to at least 12 per cent from next year. Some retail investors in Hong Kong may feel a demerger of HSBC's Asia business via a Hong Kong listing would serve their interests better. Private shareholders still resent HSBC's dividend cancellation following pressure from the Bank of England during the pandemic. The bank may have to escalate dividend promises if Ping An escalates its demands.
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