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HSBC SEES $1.8 BILLION IN REVAMP RELATED COSTS AS NEW CEO LOOKS TO BOOST RETURNS

  • NEWS Desk Global
  • Feb 19
  • 1 min read


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HSBC expects to incur $1.8 billion in expenses by the end of next year related to an overhaul initiated by its new CEO to cut long-term costs and boost profits while navigating diverging interest rate policies and geopolitical turmoil.

The Asia-focused lender booked earnings for 2024 that beat market expectations, announced a new $2 billion share buyback which it plans to complete before earnings filing in April, and retained forecast for a key performance target for three years.

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