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Neobank Revolut is on the rise, showcasing impressive advances in customer acquisition and transaction volume while expanding its presence in Switzerland. British fintech giant Revolut continues its upward trajectory, demonstrating strong performance with a…
The British-Asian bank HSBC, which is also active in Switzerland, delivered a good operating result in the first quarter. Investment banking, asset management and International Wealth and Premier Banking performed particularly well. However, net profit was…
London-headquartered HSBC is actively exploring various opportunities to convert real-world assets into digital form. One such area is tokenized gold, which it will introduce tomorrow to its retail segment. HSBC will launch tokenized gold to its retail…
HSBC’s Swiss private banking unit is hiring a whole range of new staff from major banks and Geneva-based competitors like Lombard Odier. HSBC Private Bank (Switzerland) has been busy recruiting and strengthening its offshore business from Switzerland in the…
Next week, Credit Suisse shares will be delisted, bringing a 167-year history to an end. Two firms are lined up to fill the void. On June 12, Credit Suisse shares are to be delisted from the Swiss stock exchange. The following day its shares will drop out of…
Following a weekend auction, HSBC has emerged as the buyer of Silicon Valley Bank’s UK arm. HSBC’s ring-fenced subsidiary, HSBC UK Bank, has acquired Silicon Valley Bank (SVB) UK for 1 British pound ($1.2), according to a statement. SVB UK had loans and…
Lender HSBC has raised its 2022 growth forecast for Vietnam from 7.6% to 8.1%, a prediction that if manifested would make the country the second fastest growing economy in ASEAN behind Malaysia. For Vietnam, 2022 was a year of booming recovery as the…
Taiwan is becoming a key market for HSBC in Asia as the bank set up a wealth management center in Taipei. Two more outlets are planned for 2023. British-based financial institution HSBC has opened a new wealth management center in the capital of Taiwan,…
HSBC continues to explore ways to improve profitability via market exits, this time with the potential sale of its Canada business. HSBC is reviewing strategic options for its Canada business, according to a statement from the bank. A review of the business…
HSBC is reportedly prepared to defend against Ping An’s proposal to break up the bank, with plans to announce a further acceleration of its strategy to shift resources to Asia. HSBC will defend against Ping An’s proposal to explore strategic options like a…
Lender HSBC has raised its growth forecast for Vietnam from 6.6 percent to 6.9 percent thanks to the country’s broad-based recovery from two years of Covid-19 impacts. Fading Omicron risks and easing of restrictions have set the basis for Vietnam’s return to…
A former executive vice-chairman of global wealth management of UBS Switzerland joins HSBC as head of Switzerland and EMEA private banking. Gabriel Castello is joining HSBC in Zurich and Geneva in July and taking on a wide range of responsibilities at the…
HSBC has cut its inflation forecast for Vietnam from 3.7 percent to 3.5 percent, thanks to stable food supply and weaker than expected impacts of fuel costs. Food and gasoline prices are two main drivers of inflation in ASEAN, but are likely to hit Vietnam…
A change of leadership is underway at Luxembourg-based private bank Quintet after the previous CEO’s surprise exit. Luxembourg-based Quintet Private Bank is appointing Briton Chris Allen as CEO effective July 1, the firm said in a statement released by the…
HSBC has lowered its GDP growth forecast for Vietnam from 6.5 percent to 6.2 percent due to inflationary pressures amid rising global energy prices. “Vietnam is facing multiple challenges given elevated global energy prices. It will increase its energy bills,…
HSBC more than doubled its profit in 2021, despite flat revenues and costs, driven by a significant improvement in expected credit losses. HSBC reported $14.7 billion in profit after tax for 2021, according to its latest results, marking a 141 percent…
