hsbc holdings plc-spons adr (HSBC) Key Developments
HSBC Holdings Names Douglas Rozman as Head of Communications
Jul 29 14
HSBC Holdings has announced that it has named a new communications lead in the US. Douglas Rozman was named by the bank as US head of communications. He would be responsible for communications counsel for the bank's US organization, covering corporate issues, as well as internal and external communications.
HSBC Shuts its Office in Nairobi
Jul 29 14
HSBC has shut its office in Nairobi after three years of operating in the Kenyan capital. The bank's decision to leave Kenya is said to be part of the restructuring of the group that has occasioned a scale-down of operations in all the markets where it operates. HSBC had made its global restructuring plans known last year and in this context has 'decided to scale down its presence in Africa, including the Representative Office in Nairobi.
HSBC Holdings plc Reports Consolidated and Standalone Earnings Results for the First Half of 2014
Jul 28 14
HSBC Holdings plc reported consolidated and standalone earnings results for the first half of 2014. For the period on consolidated basis, the company reported interest income of MXN 14,690 million against MXN 15,146 million a year ago. Net interest income was MXN 10,983 million against MXN 11,365 million a year ago. Total operating income was MXN 13,367 million against MXN 13,606 million a year ago. Net income before taxes was MXN 2,365 million against MXN 2,997 million a year ago. Net income was MXN 2,140 million against MXN 2,060 million a year ago. Funds used in operating activities were MXN 15,555 million. Acquisition of property, furniture and equipment were MXN 295 million.
For the period on standalone basis, the company reported interest income of MXN 14,267 million against MXN 14,720 million a year ago. Net interest income was MXN 10,294 million against MXN 10,320 million a year ago. Total operating income was MXN 12,428 million against MXN 12,500 million a year ago. Net income before taxes was MXN 1,485 million against MXN 1,959 million a year ago. Net income was MXN 1,645 million against MXN 1,079 million a year ago. Funds used in operating activities were MXN 17,219 million. Acquisition of property, furniture and equipment were MXN 295 million.
HSBC Holdings Plans to Close Chessington, UK Branch
Jul 22 14
HSBC Holdings announced a plan to close its branch in Hook Parade, Chessington, UK. The bank is closing the branch because too few people are using it. Footfall in branches has fallen dramatically and is accelerating. On occasions this has meant have needed to close a branch and Chessington branch is a case in point. The company worked with the small number of customers who use the branch to help them reorganize their finances ahead of the closure. The members of staff who man the branch will transfer to other the company branches in the area.
Lone Star Funds Reportedly Hires Rothschild And Merrill Lynch For Sale Of IKB
Jul 19 14
Lone Star Funds has hired Rothschild Inc. and Merrill Lynch & Co., Inc. as advisors for the planned sale of IKB Deutsche Industriebank Aktiengesellschaft (DB:IKB), reported Global Data Point citing two people familiar with the transaction. The sale is likely to begin shortly, as upcoming IKB's health tests put pressure on Lone Star to find a financially robust home for the lender. It is likely to spark the interest of banks hoping to expand business with medium-sized German companies. The people said that potential suitors include BNP Paribas SA (ENXTPA:BNP), Societe Generale Group (ENXTPA:GLE), Banco Santander, S.A. (CATS:SAN) or HSBC Holdings plc (LSE:HSBA). One of the person close to the sale said, "Lone Star has shown that it is ready to exit German banking assets now." Lone Star, IKB, Rothschild, Merrill Lynch, BNP Paribas, Societe Generale, Santander and HSBC declined to comment to Global Data Point.