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HSBC (HSBA)

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idpickering
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Re: HSBC (HSBA)

#578189

Postby idpickering » March 24th, 2023, 1:18 pm

Notice of Annual General Meeting to be held at 11.00am London time (6.00pm Hong Kong time) on Friday, 5 May 2023.

The Eastside Rooms, 2 Woodcock Street, Birmingham, B7 4BL

Facilities will be made available to allow shareholders to attend, participate and vote electronically at the Annual General Meeting and to ask questions in real time should they wish to do so.

Further information on how to join the meeting electronically can be found on pages 20 to 21.

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to any aspect of the proposals referred to in this document or as to the action you should take, you should consult a stockbroker, solicitor, accountant or other appropriate independent professional adviser.

If you have sold or transferred all of your shares in HSBC Holdings plc (the "Company" or "HSBC" and together with its subsidiary undertakings, the "Group") you should at once forward this document and all accompanying documents to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document , make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. The ordinary shares of the Company trade under stock code 5 on The Stock Exchange of Hong Kong Limited.

A Chinese translation of this Notice of Annual General Meeting is available at http://www.hsbc.com/agm . Alternatively, the Chinese translation of this and future documents may be obtained by contacting the Company's registrar (see page 21).


https://www.investegate.co.uk/hsbc-hold ... 06231540U/

Ian (I hold).

idpickering
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Re: HSBC (HSBA)

#578190

Postby idpickering » March 24th, 2023, 1:21 pm

HSBC Holdings PLC - Group Reporting Changes

HSBC Holdings plc has today published comparative financial information in connection with certain elements of the previously announced changes to its financial reporting framework, which are effective from 1 January 2023.

In advance of the publication of HSBC Holdings plc's 1Q 2023 Earnings Release, the attached data pack presents the impact on the previously reported financial information of HSBC Holdings plc and its consolidated subsidiary undertakings (the 'Group') for each quarter in the years 2021 and 2022, and the full years 2021 and 2022 of (i) the change in how we compute 'adjusted performance' to no longer exclude significant items and (ii) the reporting of performance by our main legal entities.

A copy of the data pack is also available to view and download at https://www.hsbc.com/investors/results- ... -reporting

As a consequence of the reporting changes set out in HSBC Holdings plc's Annual Report and Accounts 2022 and in the annual report for the fiscal year ended 31 December 2022 filed with the SEC on Form 20-F on 22 February 2023 (the '2022 Form 20-F'), constant currency performance will be computed by adjusting comparative reported results only for the effects of foreign currency translation differences between the relevant periods. This will enable users to understand the impact of foreign currency translation differences on the Group's performance


https://www.investegate.co.uk/hsbc-hold ... 01421730U/

Ian.

Dod101
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Re: HSBC (HSBA)

#578195

Postby Dod101 » March 24th, 2023, 1:33 pm

idpickering wrote:Notice of Annual General Meeting to be held at 11.00am London time (6.00pm Hong Kong time) on Friday, 5 May 2023.

The Eastside Rooms, 2 Woodcock Street, Birmingham, B7 4BL

Facilities will be made available to allow shareholders to attend, participate and vote electronically at the Annual General Meeting and to ask questions in real time should they wish to do so.

Further information on how to join the meeting electronically can be found on pages 20 to 21.

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.

If you are in any doubt as to any aspect of the proposals referred to in this document or as to the action you should take, you should consult a stockbroker, solicitor, accountant or other appropriate independent professional adviser.

If you have sold or transferred all of your shares in HSBC Holdings plc (the "Company" or "HSBC" and together with its subsidiary undertakings, the "Group") you should at once forward this document and all accompanying documents to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document , make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. The ordinary shares of the Company trade under stock code 5 on The Stock Exchange of Hong Kong Limited.

A Chinese translation of this Notice of Annual General Meeting is available at http://www.hsbc.com/agm . Alternatively, the Chinese translation of this and future documents may be obtained by contacting the Company's registrar (see page 21).


https://www.investegate.co.uk/hsbc-hold ... 06231540U/

Ian (I hold).


AGM to be held in Birmingham? That should test some of those planning to attend! Presumably the HQ of their ring fenced UK bank.

Dod

idpickering
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Re: HSBC (HSBA)

#578197

Postby idpickering » March 24th, 2023, 1:42 pm

Dod101 wrote:
AGM to be held in Birmingham? That should test some of those planning to attend! Presumably the HQ of their ring fenced UK bank.

Dod


It's a bit far for me tbh. But then most of the UK is, when one lives in Orkney as I do! ;) You've form for attending these events Dod, are you going to attend this one?

Ian.

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Re: HSBC (HSBA)

#578293

Postby Dod101 » March 24th, 2023, 10:19 pm

idpickering wrote:
Dod101 wrote:
AGM to be held in Birmingham? That should test some of those planning to attend! Presumably the HQ of their ring fenced UK bank.

Dod


It's a bit far for me tbh. But then most of the UK is, when one lives in Orkney as I do! ;) You've form for attending these events Dod, are you going to attend this one?

Ian.


I would like to but I doubt it to Birmingham! I usually like to combine it with a visit to old friends but I do not think I know anyone there.

Dod

idpickering
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Re: HSBC (HSBA)

#578307

Postby idpickering » March 25th, 2023, 3:10 am

Dod101 wrote:
I would like to but I doubt it to Birmingham! I usually like to combine it with a visit to old friends but I do not think I know anyone there.

Dod


Thanks for your reply Dod. Me neither. Maybe someone hereabouts can make it and update us here after the event?

Ian.

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Re: HSBC (HSBA)

#578309

Postby IanTHughes » March 25th, 2023, 4:52 am

https://www.hsbc.com/investors/sharehol ... r-meetings

Webcast

The AGM will be webcast live and a recording will be available for viewing for approximately two months after the AGM.

Enjoy!


Ian

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Re: HSBC (HSBA)

#582283

Postby Steveam » April 11th, 2023, 10:17 pm

This from an article in today’s FT:

HSBC has hired more than 40 investment bankers who used to work at Silicon Valley Bank, the latest move by the British lender to scoop up parts of the failed tech-focused bank.

A month after HSBC acquired SVB’s UK subsidiary for £1, the bank is now hiring several dozen of its US bankers from First Citizens, which recently bought much of SVB in an auction handled by the Federal Deposit Insurance Corporation.

The group of ex-SVB bankers will establish a new banking practice targeting tech and healthcare companies as well as venture capital funds, HSBC said in a statement on Tuesday.

Best wishes, Steve

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Re: HSBC (HSBA)

#583684

Postby Steveam » April 18th, 2023, 11:16 pm

From an article in today’s FT:

“HSBC has “exaggerated” the “costs and risks” of spinning off its Asian operations, according to Chinese insurer Ping An, as the bank’s largest shareholder used a rare public statement to lay out how it should separate the business.

Michael Huang, chair of Ping An Asset Management, said in a statement on Tuesday that although a split would involve initial costs, these should be “open-mindedly weighed against the benefits”.

He added that over the past two years Ping An had suggested a range of ideas for a split, from listing HSBC’s Asia business in Hong Kong to consolidating its operations across the region. …”

Ping An argue that HSBC would have great influence over a spun off Asia entity but that value would be enhanced. The board are being pressed to increase dividends to pre-Covid levels.

Best wishes, Steve

idpickering
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Re: HSBC (HSBA)

#586487

Postby idpickering » May 2nd, 2023, 5:19 am

1Q23 results update

Highlights

2 $0.4bn ECL charge (18bps of gross loans & advances), reflecting improved economic assumptions
1 Reported PBT of $12.9bn. PBT up $9.0bn vs. 1Q22 on a constant currency basis, driven by an $8.6bn
increase in revenue. 1Q23 included $3.6bn of revenue notable items*
Dividend of $0.10 per share; the first quarterly dividend since 2019. Share buyback of up to $2bn planned
post AGM with an intention to complete this in around 3 months 5 4
The remainder of the presentation unless otherwise stated, is presented on a constant currency basis
Figures throughout this presentation may be subject to rounding adjustments and therefore may not sum precisely to totals given in charts, tables or commentary
3 On a FY23 cost target basis (constant currency, excluding notable items, hyperinflation2 and additional costs
relating to SVB UK and related international investments), costs up $0.2bn (2%)
4 RoTE of 27.4%3; 19.3% if the provisional gain on acquisition of SVB UK and the part-reversal of France
impairment are excluded
* $2.1bn part-reversal of an impairment due to the accounting driven reclassification of the French retail business from held-for-sale and a $1.5bn provisional gain on the acquisition of SVB U

And later;

Strong capital distributions: returned to a quarterly dividend of $0.10 per share; up to $2bn share
buyback planned post AGM, intention to complete in around 3 months4. Outlook positive for future
distributions, including Canada proceeds


Downloadable here; https://www.hsbc.com/investors/results- ... ouncements

nb, RNS likely to follow at 0700hrs (UK) today.

The HSBC CEO was interviewed on Bloomberg TV about 0520hrs (UK) today, and chatted positively regarding the share buy backs and a special dividend payment too.

Ian (I hold)

idpickering
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Re: HSBC (HSBA)

#586495

Postby idpickering » May 2nd, 2023, 6:10 am

Further to the above, the HSBC CEO also mentioned a return to dividends being paid quarterly in the future.

nb HSBC are up 3% on HK market as I type.

Ian.

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Re: HSBC (HSBA)

#586523

Postby Dod101 » May 2nd, 2023, 8:05 am

idpickering wrote:Further to the above, the HSBC CEO also mentioned a return to dividends being paid quarterly in the future.

nb HSBC are up 3% on HK market as I type.

Ian.


Thanks Ian. That all sounds very positive, of course it would be to help impress those who want to split up the Bank but the numbers look good.

Revenue up costs down makes a great combination.

Dod

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Re: HSBC (HSBA)

#586524

Postby idpickering » May 2nd, 2023, 8:16 am

Dod101 wrote:
idpickering wrote:Further to the above, the HSBC CEO also mentioned a return to dividends being paid quarterly in the future.

nb HSBC are up 3% on HK market as I type.

Ian.


Thanks Ian. That all sounds very positive, of course it would be to help impress those who want to split up the Bank but the numbers look good.

Dod


You're welcome Dod. I agree with your comments. HSBC up 3.5% on UK market opening as I type.

Ian.

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Re: HSBC (HSBA)

#586576

Postby monabri » May 2nd, 2023, 10:58 am

Looks like a 25% increase on last year with a special on top ;)

If I'm reading it correctly, there will be 4 x 10c dividends this financial year. The total ordinary dividend will be just below that paid in FY 2011 :(

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Re: HSBC (HSBA)

#586594

Postby Dod101 » May 2nd, 2023, 11:36 am

monabri wrote:Looks like a 25% increase on last year with a special on top ;)

If I'm reading it correctly, there will be 4 x 10c dividends this financial year. The total ordinary dividend will be just below that paid in FY 2011 :(


Not necessarily. It looks to me like three at 10c and the fourth to comply with their distribution policy of paying out 50% of profit as dividends. They also mention that the 'outlook is positive' for distributions. So their may well be more with the fourth dividend for the year. meanwhile quarterly dividends means that we are getting our hands on the cash a little bit earlier. Can't be bad!

Dod

idpickering
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Re: HSBC (HSBA)

#587241

Postby idpickering » May 5th, 2023, 5:45 am

FYI for those that are not aware, the HSBC AGM takes place today. It'll be very interesting I'm sure, and I'd like to be a 'fly on the wall' there. Maybe even a HSBC break up chat? Watch this space....

Ian.

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Re: HSBC (HSBA)

#587258

Postby Dod101 » May 5th, 2023, 7:54 am

idpickering wrote:FYI for those that are not aware, the HSBC AGM takes place today. It'll be very interesting I'm sure, and I'd like to be a 'fly on the wall' there. Maybe even a HSBC break up chat? Watch this space....

Ian.



Indeed. Of course the interest will be centred on the break up resolution by Ping An. Although I do not think it will get very far it will be interesting to see what sort of support it gets.

Dod

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Re: HSBC (HSBA)

#587264

Postby idpickering » May 5th, 2023, 8:26 am

Dod101 wrote:

Indeed. Of course the interest will be centred on the break up resolution by Ping An. Although I do not think it will get very far it will be interesting to see what sort of support it gets.

Dod


Agreed Dod. Ta for your input. I’ve noticed that the results of AGM voting are readily available once complete, so we may hear something about that matter and the other HSBC results too later today hopefully.

Ian.

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Re: HSBC (HSBA)

#587337

Postby idpickering » May 5th, 2023, 1:57 pm

HSBC HOLDINGS PLC - AGM STATEMENTS.

At the Annual General Meeting of HSBC Holdings plc, held at The Eastside Rooms, Birmingham, UK today, the following statements were issued by Group Chairman, Mark Tucker and Group Chief Executive, Noel Quinn.


Full item here; https://www.investegate.co.uk/announcement/7515548

Ian (I hold).

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Re: HSBC (HSBA)

#587340

Postby monabri » May 5th, 2023, 2:14 pm

This might not be attractive to a HYPer, it's certainly a consideration.

"On Resolution 18, I do not believe that fixing the dividend at an absolute level is financially sensible, prudent or workable, particularly for a bank such as HSBC which is systemically important for the UK, Hong Kong and the global financial system

A dividend payout ratio is a much more balanced approach that aligns dividends to the level of profit generated. This model is widely used across the financial services industry and other industries for good reason."

( edit..I should have posted on the HYP board...my mistake)


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