HSBC targets ‘mid-teens’ Asia returns amid pressureBloombergHSBC Holdings PLC said it is targeting return on tangible equity for its Asia business that is in the “mid teens,” amid pressure from its top shareholder to improve returns. It has taken specific aim at the lender’s returns for Asia, which it said stood at 10.5 percent last year, compared with 13.8 percent for its Asian peers on average. HSBC Holdings PLC’s logo is displayed on its headquarters in Hong Kong on Aug. 4, 2020. The bank, which counts Hong Kong as its biggest market, has also been diversifying its presence in other markets in the region, amid rising geopolitical tension. The lender said it would be holding a week-long seminar for investors and analysts in Hong Kong and Singapore to discuss its ambitions.

Source: Taipei Times May 16, 2023 02:05 UTC