HSBC plans £2bn share buyback after profits soar

HSBC plans £2bn share buyback after profits soar
 

Europe’s biggest bank, rebuilding from a string of misconduct issues, will buy back up to $2billion (£1.5billion) of shares, increasing the amount returned to shareholders to $5.5billion since the second half of 2016.
The buyback offsets the impact of shares being paid out as dividends, but it decreases the likelihood of acquisitions.
HSBC continues to see growth opportunities in Asia, where it makes three quarters of its profits, particularly China, where it has secured regulatory approval to set up the first securities company on the mainland to be majority-owned by an investment bank.... read more

 
31 July 2017 in Business, Views: 50
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