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If RBC or TDominion Bank buy HSBC’s Canadian subsidiary, Canada will become a country with two dominant domestic lenders and a handful of much smaller rivals, rather than six big banks

Canada''s main stock index slipped at the open on Monday, dragged down by utilities and communication services stocks, while investors were cautious ahead of the U.S. Federal Reserve''s policy decision later this week. The TSX Composite deleted 22.51 points to open Monday at 19,448.68. The Canadian dollar moved back 0.29 cents to 73.19 cents U.S. National Bank of Canada and Canadian Imperial Bank of Commerce have dropped out as bidders for HSBC Holdings PLC''s business in Canada, while Bank of Montreal is still pursuing it. National shares began Monday up 40 cents to $92.60. CIBC shares gained 18 cents to $61.79. BMO, for its part, fell back $1.78, or 1.4%, to $126.02. ON BAYSTREET The TSX Venture Exchange dipped 1.13 points first thing Monday to 595.80. All but of the 12 TSX subgroups stubbed their toes at the outset, with real-estate blundering 1.3%, utilities capsizing 1.2%, and gold fell back 0.8%. The three gainers proved to be energy, up 1.9%, information technology, better by 0.4%, and materials, nicking up 0.1%.

India''s central bank is set to launch a pilot for a wholesale central bank digital currency ("CBDC") on November 1 followed by a retail version within a month, it said Monday in…

Nine banks including State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC have been identified for participation in the pilot.

At least two major Canadian banks have dropped out of the bidding for HSBC''s (HSBC) Canadian franchise, The Globe and Mail reported, citing people familiar with the process.National Bank…

/PRNewswire/ -- Oracle CloudWorld -- Oracle and HSBC, one of the world''s largest financial services organizations, today announced a strategic collaboration to…

The geopolitical fallout between western nations and Russia continues to impact the financial sector, this time with HSBC suspending certain services for Russian customers in Hong Kong.

To curb soaring inflation, the central banks are pushing interest rates globally: which is good news for banks. British-listed banking giants NatWest Group (GB:NWG) and HSBC Holdings (GB:HSBA) are right in the centre of this wave. These stocks have a wide coverage from analysts, and Barclays analyst Aman Rakkar is highly bullish on these stocks. Rakkar is a Director at Barclays’ banks equity research team and covers the UK and Irish banks. He also has experience in rating European banks’ stocks. Rakkar was also part of the top UK analysts of 2020, ranked by TipRanks.

“There is a more certainty of earning in India. You can take a case that ICICI Bank will grow at 15% or 25% but it will certainly grow. Can you make the same case with HSBC Bank? You do not know where the provision will hit, where the bond yield will hit but you can make a certain case for the largest bank in India that whether you grow 15% or 25%, growth will be there. ”

All necessary approvals to consummate the Proposed Transaction have been received and all necessary actions are being taken to ensure completion of the Proposed Transaction in light of the approvals received from SEBI vide letters dated 11 October 2022 and 14 October 2022.

The bank, once a herald of globalisation, is struggling to placate investors amid US-China trade wars and crisis in Hong Kong When Mark Tucker arrived as HSBC’s new chairman on a cloudy London day in October 2017, he was prepared for a challenge. The former insurance boss was the first outsider to lead the now 157-year-old bank, which was in the middle of a period of intense upheaval. HSBC was slimming down its investment bank, selling poorly performing businesses and slashing thousands of jobs as it tried to adapt to the post-financial-crisis era. While Tucker was well equipped to guide the lender through that period of turmoil, he must now wrestle with a far bigger existential question – should the bank be broken up? Continue reading…

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Ping An, HSBC’s biggest shareholder, is making a push for change at the lender in the latest investor call to reshape and possibly break-up the London-based bank, which traces its roots to Hong Kong and Shanghai.

As relations between China and Western democracies have deteriorated, HSBC increasingly has found itself in the crossfire

HSBC has named Vivek Ramachandran as its new global head of global trade and receivables finance (GTRF), effective immediately. He takes over from Vinay Mendonca, global head of product, propositions and structuring, and Ajay Sharma, regional head of GTRF. Mendonca and Sharma have been serving as GTRF co-heads since Natalie Blyth left the position in … The post Ramachandran returns to HSBC as global GTRF head appeared first on Global Trade Review (GTR) .