HSBC GBM to double down in Asia, Middle East

By Jasper Cox
23 Feb 2021

HSBC's global banking and markets division (GBM) plans to invest in Asia and plug more than half its risk-weighted assets (RWAs) in the Apac region and the Middle East by 2022, the bank outlined when reporting its full-year results on Tuesday. Meanwhile, in the final three months of last year, global banking revenues fell year-on-year, but proceeds from equities more than doubled.

Across the group, HSBC is targeting around $6bn of investment in strategic business growth, including front line staff, in Asia. For GBM specifically — the division housing global markets, global banking, securities services, global liquidity and cash management and global trade and receivables finance — the figure ...

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