November 14, 2024
HSBC

China’s largest insurer has told HSBC it should break itself up and separate out its Asian operations.

Shenzhen headquartered insurer Ping An has told HSBC’s board it believes the London and Hong Kong listed bank should split itself up, in order to free up its Asian business.

The Chinese insurance giant, which owns a 9.2 per cent stake in HSBC, is currently HSBC’s largest shareholder.

The insurer has argued that separating out HSBC’s Asian business would allow it achieve greater profitability and allow local management greater autonomy.

The calls come after HSBC, which traces its origins to colonial era Hong Kong, rejected plans to move its headquarters to the city-state, in deciding it would keep retaining its HQ in London – despite making most of its money in Asia.

Last year, HSBC earned 52 per cent of its total $49.6bn revenues and 65 per cent of its pre-tax profits from its Asian operations.

Ping An’s plan comes as HSBC continues to navigate mounting geopolitical tensions between China and the West. Ping An believes these tensions are weighing down HSBC’s share price, according to reports.

Critics have also claimed HSBC’s global operations add unecessary costs to the bank’s business without delivering sufficient benefits.

On the other hand, analysts have argued that HSBC benefits from having footholds in both Asia and the West.

40 thoughts on “HSBC’s biggest shareholder tells bank to spin off Asian business”

  31. Do you have a spam issue on this blog; I also am a blogger, and I was wanting to know your situation; we have developed some nice procedures and we are looking to swap methods with others, why not shoot me an email if interested.

    Reply

  32. I wanted to compose you one very little word so as to give thanks again over the marvelous ideas you’ve provided on this page. It has been particularly open-handed with people like you to provide openly all that a few people would’ve offered for an ebook to earn some money on their own, precisely considering that you might have tried it if you ever desired. The tricks also acted as a easy way to realize that most people have similar dreams similar to my personal own to learn a good deal more concerning this issue. I think there are numerous more pleasurable opportunities in the future for those who look over your blog post.

    Reply

  36. I?¦ve learn several just right stuff here. Definitely worth bookmarking for revisiting. I wonder how much attempt you set to create this kind of wonderful informative website.

    Reply

  37. You could definitely see your skills within the work you write. The world hopes for more passionate writers such as you who are not afraid to mention how they believe. At all times follow your heart. “Everyone has his day and some days last longer than others.” by Sir Winston Leonard Spenser Churchill.

    Reply

  38. of course like your web-site but you need to check the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth nevertheless I’ll surely come back again.

    Reply

  40. This design is wicked! You certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Excellent job. I really loved what you had to say, and more than that, how you presented it. Too cool!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

IMG-20241112-WA0003

UBA Announces Appointment of Henrietta Ugboh as an Independent Non-Executive Director

November 12, 2024 10
IMG-20241111-WA0001

Coal City University confers Honorary Doctorate degree on Arab Contractors’ Director, Khalid Mohammed Seifaldeen

November 11, 2024 17