Household HSBC Watch

Independencia, a specialist lender to low income Mexican families with more than 1 million clients — read as Subprime — is on their own. HSBC Holdings Plc said on Thursday it is selling its entire 18.68 percent stake in Mexican consumer lender Financiera Independencia to JPMorgan for 1.568 billion pesos (USD$145 million). If […]

HSBC Holdings PLC isn’t interested in buying Morgan Stanley, a person familiar with the bank said Friday. “HSBC has made clear in the past that buying an investment bank is not on its agenda,” the person added. “HSBC feels Morgan Stanley is not worth pursuing.” It appears as though HSBC is not interested […]

We saw this on September 16th: “Investment banks must move quickly to strengthen their balance sheets and address their lack of funding if they are to come out of the current financial crisis unscathed, a senior banker at HSBC has warned.” A warning from HSBC? Acting like a global authority HSBC fails […]

Lehman Brothers Holdings Inc. sold its entire 2.09% stake in Amtek Auto Ltd. to HSBC Holdings PLC, the chairman and managing director of the Indian auto parts maker said Monday. For your viewing enjoyment here is a traffic webcam in India. I can see where an Indian auto parts maker would be making […]

No doubt HSBC is interested in buying Lehman Brothers. Remember the iPhone mis-information? While the Australian MIS officer said HSBC could replace Blackberrys with iPhones, London said the opposite. Regarding the Lehman deal the opposite strategy is perhaps true. No word from London, while the HSBC Asia chief executive officer speaks […]

HSBC Holdings and an unidentified Chinese bank are among potential buyers of Lehman Brothers, South Korea’s Chosun Ilbo newspaper reported on Wednesday, citing a financial industry source. State-owned KDB confirmed on Tuesday it was in talks with Lehman. Lehman prefers KDB over other contenders as KDB plans to keep its current management after […]

In the US Banker section of American Banker, we spotted an interesting line: “The concern was, ‘How much subprime do you do? What is your risk of having what Household (International) had?’” It was a question asked of Richard Davis, CEO of U.S. Bancorp, in February 2007. HSBC bought Household in […]

HSBC PLC leads the list of top losers so far today and is now at $76.87, down $2.44 (-3.08%) on volume of 1,013,233 shares traded. Part of the problem for HSBC comes from the IMF, which said subprime issues will continue and may actually get worse. HSBC became of of the leading subprime […]

HSBC Holdings in the UAE reported the highest profit growth of 77 percent to $522 million in the first half this year compared to $295 million last year. In Saudi Arabia the bank’s joint venture Saudi British Bank posted a net profit of $440 million. HSBCs’ share in the profit $175 million was up by […]

On August 18, 2008: “If you don’t have a sustainable environment to do business in, you’re not going to be profitable,” said Donna Funk, senior vice-president of community and philanthropic services for HSBC-North America, which had assets of $557 billion last year. “If you’re not profitable, that’s the end.” HSBC’s own fact sheet, […]