HSBC: growth set to accelerate by 2020
(CercleFinance.com) - After a period of restructuring, HSBC plans to accelerate growth, particularly in Asia, over 2018 to 2020, the British banking giant said on Monday.
At its strategy update, HSBC said it is targeting a return on tangible equity ("RoTE") of above 11% by 2020, while investing between 15 billion and 17 billion dollars over the period.
To achieve these targets, the bank aims to deliver mid-single digit growth in revenue, while operating expenses are expected to increase in a low to mid-single digit rate.
HSBC also said it targets a CET1 ratio of above 14%, noting that its ratio has been above this level for the past five quarters.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At its strategy update, HSBC said it is targeting a return on tangible equity ("RoTE") of above 11% by 2020, while investing between 15 billion and 17 billion dollars over the period.
To achieve these targets, the bank aims to deliver mid-single digit growth in revenue, while operating expenses are expected to increase in a low to mid-single digit rate.
HSBC also said it targets a CET1 ratio of above 14%, noting that its ratio has been above this level for the past five quarters.
Copyright (c) 2018 CercleFinance.com. All rights reserved.