In the first quarter, Hong Kong, China, Hong Kong, contributing to HSBC (adjusted) 3992 billion US dollars, accounting for 31% of total revenue; contributing to taxation profit of 1886 million US dollars, accounting for pre-tax profit 49%; China’s mainland contributing to HSBC contributing to $ 880 million, accounting for 7%; contributing to paying more than 973 million US dollars, accounting for 25%; 74%.
\”Know Which side of one’s bow is buttered\”, this is a well-known proverb in English. It is understood from the literal meaning, \”I know which side of the bread is painted.\” In the context, but the butter refers to the interests, \”If a person knows where his biggest interest is\”. \”
After the \”Hong Kong Version Guoxuan Law\”, Hong Kong, the first Shou Shouji, used this sentence to remind the HSBC, who refused to express his delay. When the epidemic was crazy last year, the company’s net profit almost returned. After the storm, HSBC also expressed the understanding of Liang Zhenying with the media shouting and practical actions.
On August 3, HSBC Holdings disclosed in the 1930s of 2021: After 4,000 people in the first half of last year, 3,500 people were layoffs this year. In the context of global low interest rates, the company will further withdraw from Europe and America lack of competitive areas. With the retail banking of the two places being sold, Europe and the United States will have a significant layoff amplitude at the end of the year.
Let Hong Kong Media are fortunately, as the current profit strategy of HSBC Holdings, Hong Kong may not be in HSBC layoffs. However, in Beijing, Shanghai, Shenzhen, Chongqing and Guangzhou last year’s GDP exceeded Hong Kong, HSBC obviously optimistic about the growth potential of China’s mainland.
On the occasion of major layoffs, HSBC Holdings disclosed in the earnings report, will further expand the digital wealth management business in the mainland China, increasing more than 350 wealth management personnel, and expand its business to Beijing, Shanghai, Guangzhou , Shenzhen and Hangzhou five cities.
Financial report, in the first half of 2021, HSBC Holdings increased by 4% in revenue, net profit increased by nearly 3 times, but still did not returned to the level before the epidemic. In particular, the \”bad debt preparation\” during the epidemic last year has paid back in the first half of this year and constitutes the main driving force for this earnings.
This is also in line with the general situation of global foreign banks. Bloomberg reported on August 3, pointed out that in the past four quarters, the \”bad debt preparation\” during the dialogging of the epidemic, the total net profit of more than 10 largest banks in the world more than 170 billion US dollars, set \”the most profitable year in history.\”
HSBC Holding Executive President, Praying Years
The performance has not returned to the epidemic
March 1865, incenseAfter being cut by the Qing government by the Qing government to the UK, HSBC opened in Hong Kong. After a month, he also opened in Shanghai.
HSBC Bank English is \”The Hongkong and Shanghai Banking Corporation Limited\”, the first letter is translated into HSBC, Chinese translation as \”Hong Kong and Shanghai Bank Co., Ltd.\”, take the meaning of \”Hui Fu\”, Chinese name For \”HSBC\”.
Currently, HSBC is one of the three major Hong Kong-Hong Kong-Hong Kong-Hong Kong-Hong Kong-Rights rights, and the other two is Bank of China and Standard.
HSBC Holdings, established in 1991, were all Napida of HSBC, headquartered in London, England, with nearly 3 trillion US dollars at the end of 2020 (approximately 19.4 trillion yuan). As a comparison, ICBC, is called \”universe line\”, and the total assets at the end of 2020 were RMB 33.3 trillion.
In 1965, Hong Kong HSBC Source: HSBC
In the past 2020, the new crown epidemics were raging globally, the world economy was heavy, and the financial market violently fluctuated. As one of the largest banks and financial services organizations around the world, HSBC is obviously unique.
In the second quarter of the 2020, HSBC holding net profit has plunged 96% year-on-year, and the company’s market value is also approaching 70% in more than a year. At the end of 2019, HSBC Holding Executive President prayed that the year has undergone the goal of \”rewarding investors in 2020, but under the influence of the factors such as epidemic, promised to bubble.
In 2021, with the increase in global vaccination, the economic situation has recovered, HSBC Holdings financial report has begun to improve.
Financial report, in the first half of 2021, HSBC holding revenue was 25.5551 billion US dollars, down 4% year-on-year; pre-tax profit was 10.839 billion US dollars, a year-on-year increase of 151%; net profit (parent company ordinary shareholder The profit should be 7.276 billion US dollars, an increase of 268% year-on-year; the cost-effective ratio is 66.9%, and the same period last year is 61.8%.
HSBC four major business sections: wealth management and personal banking ex-tax profit is 3864 billion US dollars, a year-on-year increase of 132%; the industrial and commercial financial business is 3.376 billion US dollars, and last year is 118 million last year. Dollar; Global Bank and Capital Market Profit is $ 330.7 billion, an increase of 29% year-on-year; the company’s central tax is 1403 million US dollars, an increase of 7% year-on-year.
HSBC Holdings In the 2021, the report
In the financial report, HSBC Holdings also explained the reasons for performance changes:
The economy of our many major marketsRestoration growth, the group has a positive impact on the financial performance of the Group in the first half of the year; the improvement in economic prospects allows us to start paying back expected credit losses, and become the main driving force of the Group’s profitability; we have recorded profit in all regions in all regions in the first half.
The decline in revenue reflects the influence of 2020 interest rates, and the capital market and securities service revenue have decreased in the first half of the 2020; the above reduction is expected to be credit loss and other credit impairment preparations ( It is expected that the credit losses will be charged.
Observer Net notes that HSBC Holdings have repeatedly mentioned the expertise of expected credit losses, ecl.
For example, banks borrow a money to enterprises, seeing enterprises into crisis, estimating a loss as a \”bad debt reserve\”. When the actual bad debt occurs, it will not be able to use the \”bad debt reserve\” to partially lose.
In the first half of 2020, the outbreak of the epidemic caused economic prospects, and HSBC Holdings expected credit losses increased by $ 5.7 billion. However, in the first half of this year, HSBC Holding Account Reference Expected credit losses recorded a net amount of 700 million US dollars and became the main driving force for the company’s profitability.
HSBC Holdings revealed that net net in the first half of 2021, mainly reflecting economic prospects to improve since 2020, and in the first half of 2020, a large amount of a large amount transferred by a corporate loan in Singapore in the first half of the year.
For HSBC mentioned Singapore companies, Reuters have reported that this company is very likely that Singapore Petroleum Trade Commercial Trading Company (HLT), HSBC is its main creditor. Affected by oil prices, Xinglong has undergone debt restructuring under the court designated department supervision last year.
In addition, the observer net noted that in the first half of 2021, HSBC Holdings should account for $ 1656 million in Share of Profit In Associates and Joint Ventures (adjusted) It increased significantly from 83% from the same period last year.
HSBC holding 2021 wealth patent screenshot
Although the \”bad debt preparation\” that is remembered, HSBC holding net profit returns, but has not returned to the 2019 level. Financial report shows that HSBC Holdings revenue in the first half of 2021, net profit declined by 13%, 14% from 2019. Among them, revenue and net profit in the second quarter of 2021 declined 16% and 17% from 2019.
HSBC Holdings Different Period Source: Observer Net
Withdrawurization of Europe and America, acceleration to China
On China Hong Kong and the United StatesThe city’s HSBC, although there is an office in Europe, Asia, North America, Latin America, and the Middle East and North Africa, and the Financial will find that Asia (mainly China) is achieved. The importance is very obvious.
Financial report show that in the first half of 2021, the pre-tax profit contributed to HSBC Holdings was $ 6.936 billion, an increase of 64% year-on-year. It is the fastest growing area of \u200b\u200bHSBC holding profit growth, in front of its pre-tax profit The proportion of ratios is 64%; Europe, the Middle East and North Africa, North America, Latin America, etc. The proportion of forerunage profit in front of Huifeng tax is 18%, 6.7%, 7.4%, 3.8% respectively.
HSBC Holdings In the first half of the year
In the half-year report, HSBC Holdings did not disclose the ratio of Asian camps, and did not disclose mainland, Hong Kong, etc. Regional performance.
However, the observer network found in HSBC Holdings 2020 quarterly newspaper, China Hong Kong contributed to the company (adjusted) 3992 billion US dollars, accounting for 31% of total revenue; contribution Profit (adjusted) is $ 1886 billion, accounting for 49% before the total tax; China’s mainland is HSBC contribution revenue (adjusted) 880 million US dollars, accounting for 7%; contributing to pay before tax Adjustment) is $ 973 million, accounting for 25%.
China’s mainland and Hong Kong two areas, accounting for 38% of HSBC revenue, 74% of pre-tax profits.
China Hong Kong performance
In the past few years, it has contributed a lot of profits for HSBC in Asia (mostly from mainland China in China. Hong Kong) Form a stark contrast, the performance of Europe and the US bank market lowered the company’s return, and the foreign low interest rate under the epidemic has a downturn in its banking industry.
After the net profit in 2019, after 33%, HSBC Holding Administration announced in February last year, in the next three years, the company plans to cut 35,000 employees worldwide, and the proportion of layoffs reached 15%. Thus achieving $ 4.5 billion in cost reduction plan. Since the US market has a poor performance in the US market, in order to improve the return, HSBC Holdings will close about one-third of its 224 branches, and reduce European stocks.
Although the results of the year in 2021 have improved, HSBC Holdings did not stop the transformation plan. The company revealed in the earnings report that after 4,000 people in the first half of last year, layoff 3,500 people again in the first half of this year, and this year’s employee will be further reduced by the end of June. HSBC Holdings Financial Officers, Shaowei, revealed that the company will not set the goal of all-year layoffs, but Hong Kong is expected to be laid offers to support the continued development of wealth management business needs in Asia, and the United States and other UK OutsideThe European region will have a significant layoff amplitude.
Not only that, HSBC disclosed in the earnings report, the company will further withdraw the business lack of competitive regions. \”In the United States, we have signed an agreement to sell the country’s mass market retail banking. In Europe, we have also signed a memorandum of understanding with My Money Group in the European continent. Both decisions have been extensive after a period of time. The strategic review is also an important mileage of the Group’s transformation. \”
Shi Feng Holdings Tips
Different from\” Retreat from Europe and America \”,\” Hong Kong is expected to be unfained \”, when HSBC When I said China, I immediately changed another painting.
\”We continue to prepare for future business development, including further expanding the digital wealth management business’ HSBC LII\” in China’s mainland, increasing more than 350 wealth management personnel, and expanding business to Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou five cities. \”Financial report.
Obviously, HSBC is to see the future market growth potential in the Chinese mainland. On August 3, Hong Kong Media \”Dongwang\” reported that in China’s top ten richest city rankings, Shanghai 2020 is ranked in the country in GDP in GDP, Beijing (564 billion US dollars), Shenzhen ($ 43.2 billion) ), Chongqing (386 billion US dollars) and Guangzhou ($ 370 billion) were ranked 2-5 digits, Hong Kong only ranked sixth ($ 365 billion).
In February this year, HSBC Holdings Chairman Du Jiazhen said:
In the first half of the year, the global economy has deteriorated seriously due to new crown viruses, but there are signs of recovery in the second half of the year, especially in Asia. China is still the greatest power source of global growth, and its economic recovery is significant, including the most strong rebound in international trade. The signing of the \”Regional Comprehensive Economic Partnership Agreement\” (RCEP) will push the Asian regional economic and trade activities more flourishing. At the same time, the EU and China recently reached a political agreement on an investment agreement. After the European Union passed, it will promote huge bilateral investment traffic.
Mangine Media Report Screenshot
HSBC Holdings frank in the financial report, investing in Asian wealth management business benefits. 6 months ago 2021, the company has a good performance in absorbing customers, and the expense benefits have increased, while the scale of wealth management business has increased significantly. Next, the company will also expand Hong Kong, Malaysia and Singapore’s digital wealth management banking services, hoping to further meet the needs of wealth management of Asian customers and Asian overseas Chinese. In addition, the company is transferring all three of the Global Administrative President to Asia to allow them to closer to customers and core business.
However, HSBC Holdings also suggests that the risk of the company’s strategies due to the company’s strategies in the Asian region (especially Hong Kong), in the prospects of the company, and the geopolitanity in the districtThe financial impact on the company will exacerbate.
On May 28, 2020, \”National People’s Congress on the establishment of a legal system and implementation mechanism for maintaining national security in Hong Kong (Draft)\” (referred to as \”Hong Kong Version Guoxian Law) in the country The Congress is vote and gets a high pass.
After the \”Hong Kong Version Guoxian Law\”, people from all walks of life in Hong Kong have expressed support. As a financial giants in Hong Kong, HSBC has never publicly evolved, and a number of patriots including the Vice Chairman of the National People’s Political Consultative Conference.
Liang Zhenying issued a document in personal social media:
HSBC’s profit is mainly from China, but the board of directors and high-level management are almost all British, in political issues, this claim Britary banks must not earn China’s money, while the Western countries have harmed Chinese sovereignty, dignity and people’s feelings. China and Hong Kong have not owe Huifeng, HSBC’s business in China, banks in China and other countries can be fully replaced overnight. We must let British government, politicians, and HSBC this type of British agencies know which side of the break is buttered (which side of the cake smeared butter).
No matter from the business history or financial data, HSBC, \”smeared butter\” is obviously in China.
\” Global Bank’s most profitable year \”
\” Don’t worry about what bankers are exhausted, in order to return to the office and worry A new wave of epidemic. For the world’s largest investment bank, a simple and prominent fact is: they are creating unprecedented profits. \”On August 3, Bloomberg wrote in a report.
Obviously, more than HSBC has grown sharply.
Bloomberg reported that with the dust in the financial season, more than ten large banks have more than 170 billion US dollars in the past four quarters, show A significant change has occurred compared to the early downturn in the industry. Among them, Morgan Datong’s performance is particularly excellent, and the profit is equivalent to earning $ 131 million daily.
The report believes that in the early epidemic, a series of successful transactions will undoubtedly help the banking industry. With the beginning of the world economy, with the help of an unprecedented government economic stimulus plan, banks with wealth and asset management departments have enjoyed the stock market, mainly to assist assets and their families increase, manage and save wealth. .
For example, HSBC Holdings mentioned in 2021, it is mentioned that the company’s investment in Asian wealth management business is remarkable, and 6 months ago 2021, the company’s wealth management andPersonal banking is 3864 billion US dollars, a year-on-year increase of 132%.
However, it is worth noting that due to the US and other countries have taken a quantitative loose monetary policy, in the context of the physical economic depression, a large amount of funds flow into the field of virtual economic economics, although the wealth and asset management department Bank profit is full, but it also caused the resolution of the Virtual Economic Society and the phenomenon of \”K-type recovery\” in the entity economy.
\”K-type recovery\” The \”V-type\” \”U-Type\” recovery rebounded after the previous economic crisis is significantly different, and is a typical manifestation of the current US economic recovery. K ‘s two arms represent the extent and status quo of recovery, and the upper arm represents a scientific and technological enterprise, large enterprises, virtual economic sectors and their practitioners, and lower arms represent non-technology-based enterprises, small enterprises and their Blue collar worker.
Therefore, the most obvious characteristic of K-type recovery is differentiated, that is, different regions, different industries, different departments, different enterprises, and different people from the crisis to recovery exhibited significant imbalance. There is a view that if the United States continues to implement quantitative easing policies, the inflation caused by the inflation will inevitably output to other countries; if the United States will take the raising policy, it will inevitably cause capital reflux, seriously damaging the global stock market. This will bring more difficulties to economic recovery in developing countries.
The global bank became the biggest beneficiary of \”K-type recovery\”. In this regard, Huifeng is in it, but it is far from the first echelon.
Bloomberg report pointed out that due to the beginning of cutting the expected credit loss, the retail banking business that is considered to be dragging results has also begun to recover. Affected by this, Goldman Sachs Group and Morgan Stanley have broken their own profit records. European Peer Ruiyin Group and Barclays have also announced the highest over-profit level in 10 years, and companies such as German Bank and French Industrial Bank said: Business benefits from Global economic improvement.
At the same time, the performance of bank stocks reflects the impact of this wave of strong performance. The Dow Jones US Bank Index rose by 59% in the past year, and the European Stoke Bank Index rose 56%. Marketing activities will benefit from the Deutsche Banks and Barclays traders, while Morgan Tatong’s investment banks have benefited from trading match and consultation fees, and record the best quarter results in history.
In the past year, the high situation of different banks
Bloomberg believes that after the month of epidemic prevention measures, the warming of corporate activities reflects the optimism of many of the global economy. mood. On the other hand, the banking industry also has sufficient confidence to cut \”bad debts preparations\” to deal with the economic recession. Only in Europe, the \”bad debt preparation\” of the former nine banks has decreased by 88% in recent weeks.
\”In Britain and Europe, all banks we rated are still in the expected credit loss, because of the provision of substantive quantities.In order to still have uncertainty \”, Moody Investor Services General Manager Laurie Meyers said,\” However, main economies include the prospects of housing prices more positive, pushing bank cutting Provision.
However, reports also pointed out that due to the ravage of many regions in many parts of the world, the ultimate interest rate makes bank loan income, whether the banking industry can continue to break the profit record remains to be observed. Jefferi Analysis Master Joseph Dickson said that investors may have skeptical attitude towards the provision of the expiration of the results in the performance of the performance in recent quarters.
Bloomberg quoted the people, like HSBC, European Bank The industry giant Deich also has a lot of people’s loss. In the past year, German silver lost at least 10 senior bankers and a large number of primary employees, and closed Chicago’s wealth management business. The person said that some employees are excavated by competitors Walking, while others were dismissal due to cutting costs.
At the same time, Delin also increased the recruitment, recently added 7 private bankers in Latin America and the US East and West. And for wealth In the management industry, private addition to customers is critical to attracting assets, so employee losing is not a small thing. Analyzers pointed out that Dehui Bankhen wants to expand a financial business that makes money, and wants to control spending, it is in two difficulties.
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