HSBC Raised to Buy by Citi on Asia Wealth Potential

Bloomberg2021-06-16

Citi says HSBC’s Asia wealth could be valued at $96 billion HSBC’s regional wealth business is ‘underappreciated’ HSBC Holdings Plc was raised to buy by Citigroup Inc.because of the European bank’s “...

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精彩评论

imsoohow
2021-06-17
imsoohow
In a time where HSBC is closing branches. Bankers promote bankers.
ASH21
2021-06-16
ASH21
Lol
aLex
2021-06-16
aLex
Cool
Jeenhow
2021-06-16
Jeenhow
Swee
humansharkk
2021-06-16
humansharkk
Great
Deonc
2021-06-16
Deonc
good

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It’s also exiting or paring back operations in Europe and the U.S.\nWhile HSBC’s shares in Hong Kong have risen 17% this year, it’s trading at close to historical wide 40% discount to price-to-book valuation versus peers, Citi said. The shares rose 1.2% to HK$47.90 as of 10:29 a.m. in Hong Kong.\nHSBC is well positioned to grow its wealth revenue, benefiting from a plan to link southern Chinese cities with Hong Kong called Wealth Connect, scaling up its private banking and expanding its insurance offerings, Citi said.\nCiti said HSBC, which counts Hong Kong as its biggest market, had the highest revenue from wealth in Asia than of any bank. In private banking, it ranked third last year in terms of assets, excluding mainland China, according to Asian Private Banker.\nHSBC Chief Executive Officer Noel Quinn is targeting making the bank a market leader in wealth management, a steadier source of revenue than lending and trading. To boost its push into Asia, the bank is in the process of moving Nuno Matos, chief executive officer of wealth and personal banking, to Hong Kong from London.\nHSBC also has potential to grow its business in China through partnerships, including with its largest shareholder, Ping An Group Co., according to Citi.\n“If the two can reach partnership, they could greatly increase each other’s wealth market share across the border,” Citi said.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":163120502,"gmtCreate":1623863312406,"gmtModify":1631889360905,"author":{"id":"3583497799130184","authorId":"3583497799130184","name":"imsoohow","avatar":"https://static.tigerbbs.com/783bba5275bb788de8821a8e6d62e04c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583497799130184","authorIdStr":"3583497799130184"},"htmlText":"In a time where HSBC is closing branches. Bankers promote bankers.&nbsp;","listText":"In a time where HSBC is closing branches. Bankers promote bankers.&nbsp;","text":"In a time where HSBC is closing branches. Bankers promote bankers.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163120502","repostId":1199891920,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169426826,"gmtCreate":1623848308465,"gmtModify":1631893912766,"author":{"id":"3577357058539261","authorId":"3577357058539261","name":"ASH21","avatar":"https://static.tigerbbs.com/5cd8cba4c931b1a465e4bc427759178a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577357058539261","authorIdStr":"3577357058539261"},"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169426826","repostId":1199891920,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169855180,"gmtCreate":1623829691940,"gmtModify":1634027448779,"author":{"id":"3560045644071234","authorId":"3560045644071234","name":"aLex","avatar":"https://static.tigerbbs.com/8436340e7c4693497944aef98e239d71","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3560045644071234","authorIdStr":"3560045644071234"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169855180","repostId":1199891920,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169812751,"gmtCreate":1623827159173,"gmtModify":1631892425204,"author":{"id":"3585473275821557","authorId":"3585473275821557","name":"Jeenhow","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3585473275821557","authorIdStr":"3585473275821557"},"htmlText":"Swee","listText":"Swee","text":"Swee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169812751","repostId":1199891920,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169807047,"gmtCreate":1623825437189,"gmtModify":1634027500766,"author":{"id":"3575075648382709","authorId":"3575075648382709","name":"humansharkk","avatar":"https://static.tigerbbs.com/0c78c492b5dbbc667632dc44456f118d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575075648382709","authorIdStr":"3575075648382709"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169807047","repostId":1199891920,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169158577,"gmtCreate":1623823325299,"gmtModify":1634027526188,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3569316529855154","authorIdStr":"3569316529855154"},"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169158577","repostId":1199891920,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":117,"commentSize":44,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1199891920"}