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