Quote | Super Quote
13292 JP-HSI @EC2006I (CALL)
RT Nominal unchange0.010 0.000 (0.000%)

18/02/2020 15:57

{I-bank focus}Goldman says HSBC pursuing right strategy

[ET Net News Agency, 18 February 2020] Goldman Sachs sees HSBC's (00005) updated
strategy as better in terms of RWA cuts (US$100bn versus US$70bn), but worse in terms of
capital return, which appears to be more back end loaded, with no buybacks planned for
2020 and 2021.
The group expects to run at a higher level of CET1 (towards 15%) throughout the
restructuring period, with the plan being to redeploy freed up capital in Retail Banking
and Wealth Management (RBWM) and Asia.
All-in, the research house believes HSBC is pursuing the right strategy, reallocating
capital to higher return segments. In terms of share price reaction, Goldman believes the
slightly better guidance in terms of 2022 profitability is likely to be offset by the
group having to run at higher capital levels in the interim and concerns regarding the
pending CEO appointment.
Goldman maintained its "buy" call and HK$75 target price. (KL)

Remark: Real time quote last updated: 03/04/2020 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.