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HSBC HOLDINGS: Decision to Restart Buybacks Subject to Quarterly Normal Buyback Considerations & Processes
Recommend 54 Positive 58 Negative 41 |
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In the outlook section of its results, HSBC HOLDINGS (00005.HK) said it maintains its medium-term CET1 capital ratio target range of 14-14.5%. The expected day one capital impact of the proposed transaction to privatize HANG SENG BANK (00011.HK) is a net reduction of around 125 bps, which would arise following the approval of the relevant resolutions by the requisite majority at each of the Hang Seng Bank Court Meeting and the Hang Seng Bank General Meeting. Having announced its intention not to initiate share buy-backs temporarily, HSBC HOLDINGS expects CET1 capital to increase prior to completion of the transaction, and while it may fall below its CET1 capital target range on incurring the expected day one capital impact, it expects to restore its CET1 capital ratio to within its target range through a combination of organic capital generation and the impact of not initiating share buy-backs. A decision to recommence buy-backs will be subject to its normal buy-back considerations and process on a quarterly basis, HSBC HOLDINGS stressed. AAStocks Financial News |
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