HSBC Sets out Mid-Term Growth Ambitions for Asia Business
15 Maggio 2023 - 08:48AM
Dow Jones News
By Elena Vardon
HSBC Holdings on Monday issued a medium-term growth outlook for
its Asian business.
The lender--which is listed both in London and Hong Kong--sees
high-single digit percentage wealth revenue growth in the region
over the next three to four years. It also targets mid-single digit
percentage lending growth over the medium-to-long-term but is more
cautious in the short-term, it said.
A return on tangible equity in the mid-teens is targeted, the
bank said. For 2023, it still sees a return on tangible equity of
at least 12%, it added.
"Today's ambitions show the strategy is working, we are
generating strong returns for our shareholders and we are confident
there is more to come," Chief Executive Noel Quinn said ahead of a
presentation on HSBC's operations and ambitions in mainland China
and Hong Kong.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
May 15, 2023 02:33 ET (06:33 GMT)
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