Household HSBC Watch

Although the credit quality problems at HSBC Finance appear to have tempered management’s enthusiasm for cheap acquisitions of distressed assets, HSBC wasted no time in complaining about wording in the US government $700 Billion bailout. The issue was the wording of “Headquarters in the United States.” As lawmakers and Financial chiefs worked on […]

The FTSE fell to its lowest point since 2005, following a horrific day on Wall Street which saw the DJIA drop 449. On the FTSE for September 18, 2008, Lloyds TSB was flat, while HBOS sank. HSBC and Royal Bank of Scotland lost 4.6 and 10.4 per cent respectively. British bank […]

HSBC is interested in HBOS but does not want to pay for it. Perhaps HBOS should pay HSBC for the “high honor” of HSBC’s interest? According to a report on website www.Telegraph.co.uk, Lloyds TSB Group is in talks to acquire HBOS, Britain’s biggest mortgage lender. The article says the prime minister has […]

Here is breaking news from Saudi Arabia involving HSBC and the Bin Laden family. The Saudi Binladin Group successfully completed the issuance of a privately placed SAR Sukuk of finance raising more than SR1bn from the capital markets in Saudi Arabia. This is the Saudi Binladin Group’s first go at the Saudi debt […]

The Manchester Evening News (see) reported something we already knew. BARCLAYS, HSBC, Lloyds TSB and NatWest all offer below average customer service, according to the latest Which? Money current account survey. They also continue to offer paltry amounts of interest on credit balances. Just look at our own survey, located to […]

Kudos to The Guardian for this article. As bad as finances are in the U.K. we found out that executive perks at HSBC remain untouched. The TUC PensionWatch report identifies a senior HSBC finance director who ‘receives an executive allowance of 55 per cent of annual basic salary to fund personal pension arrangements’. […]

there was no warning and HSBC will contact existing customers. This is just in, thanks to a report that called our attention to the matter. “HFC Bank Ltd has closed its operation to new customers in the Republic of Ireland with effect from August 28th 2008. Existing customers can contact Customer Services on […]

A reader in Kentucky said: “I did a Google search using the term “History of HSBC Computer Problems” and found several entries. It appears that HSBC has had at least 1 major computer crash every year since 1999. Not all crashes included all customers or departments, but all were major and took […]

Seen in the Telegraph: “An update on the race to become the first head of a major UK bank to get the chop. Earlier this week Diary discovered that Paddy Power was running odds on which of RBS, HBOS, HSBC and Barclays would be first to lose their chief exec. The hot money was […]

The mortgage market and the number of repossessions — their term for foreclosures — in the United Kingdom are bad and getting worse. For motnhs we wrote that the UK is a bellweather for the United States, where the situation is also getting worse. There is one common denominator, however, and that common […]