HSBC GBM to double down in Asia, Middle East

HSBC_Adobe_575x375_26June2020
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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