Foreign media said that HSBC became the biggest loser, why do you say that?

On August 3, local time in London, HSBC, Europe's largest bank, announced that due to the reduction in interest rates and the economic downturn caused by the impact of the new crown epidemic, HSBC's net profit in the second quarter of this year was **96%. From April to June this year, HSBC's net profit attributable to ordinary shareholders was only 100 million US dollars, compared with 100 million US dollars in the same period last year. The British "Guardian" pointed out that in the never-ending game of global power between China and the United States, HSBC is the biggest loser.

The Associated Press reported that HSBC's near-zero interest rate is intended to help business owners stay afloat with cheap credit. But this rate is squeezing banks' profit margins. As a result, credit losses in 2020 will be between $8 billion and $13 billion.

HSBC's loans fell 3 percent to $29 billion last quarter, while deposits rose 6 percent to $85 billion, as customer savings rose and consumption declined. Revenue fell 12% to $5.6 billion as spreads narrowed and wealth management activity continued to weaken. The area of growth was mobile payments, which more than doubled to $71.4 billion compared to the same period last year.

In addition, HSBC also said earlier that it would cut about 10,000 jobs to focus on the faster-growing Asian market, while trying to deal with a series of global uncertainties such as Brexit, the Sino-US war, and the new crown epidemic. In the first quarter of this year, HSBC paused its restructuring efforts in an effort to focus on supporting customers, according to HSBC CEO Noel Quinn's online report. He said:

Our first-half results were impacted by the pandemic, lower interest rates, heightened geopolitical risks and heightened market volatility. ”

There are reports that HSBC's predicament reflects a problem that belongs to the banking sector as a whole. In addition to low interest rates, many banks in Europe are still grappling with the legacy of the financial crisis. HSBC is no different from any other bank.

The sudden decline in economic activity indicates a reduction in lending, with more and more funds being stored for backup to cover losses, while profit margins are severely squeezed. However, there is a crucial difference between HSBC, Europe's largest bank, and its competitors, as more than half of the bank's profits come from Hong Kong. HSBC's share price** has reached pre-1997 levels, partly due to the downturn in global economic conditions, but also to global political dynamics.

In the second quarter, the net profit increased by 96%, which can be imagined how serious the loss was.

And at that time, HSBC also provoked the report on Huawei's Meng Wanzhou, so I am happy about this situation now.

HSBC's net profit in the second quarter of this year was 96% due to lower interest rates and the economic downturn caused by the impact of the pandemic. The Associated Press reported that HSBC's near-zero interest rate, which is intended to help business owners stay afloat with cheap credit, is squeezing banks' profit margins.

This is mainly due to the impact of the epidemic and the reduction of interest rates, resulting in HSBC's net profit of **96%.

HSBC's crisis.

Data shows that in the first half of last year, HSBC's profit was only $4.3 billion, which is an astronomical figure, but compared to HSBC, which used to have a booming business, this figure is unbelievably worse. Compared to 2019, HSBC's profit fell by 65% year-on-year, and the profit after tax was only $3.1 billion.

From prosperity to profit**, the period of time experienced was only half a year, and the sudden blow put HSBC in a dilemma. Since last year, HSBC, which has been shy in its pockets, has begun large-scale layoffs, from ordinary employees to middle and senior leaders, laying off nearly 4,000 employees in the first half of 2020 alone, while HSBC announced the closure of more than 80 stores in the United States.

Now that HSBC's business is down 60 percent from its peak, economists are pessimistic about the bank's prospects. Because the scale is greatly reduced, it is often the beginning of the end of large enterprises, and there are very few who can turn defeat into victory. Not to mention, HSBC did not launch an effective plan to recover losses after laying off employees and closing stores, but allowed the funding gap to widen, according to the report issued by HSBC this year, due to poor performance, they will probably lay off about 10,000 employees this year.

A large part of the reason why HSBC is in such a bad situation is that it has lost the Chinese market. Just last year, China selected more than a dozen banks to serve as underwriters for the issuance of $6 billion in US Treasury bonds. As you can see from the list, HSBC is not among them.

This is a dangerous sign for HSBC, which, as usual would have been the case for such big projects, has been kicked out of the shortlist by China, with its old rival Citibank taking its place.

This makes the meaning very clear, China has chosen a similar alternative to HSBC, HSBC is no longer needed, who made it choose to sell Meng Wanzhou? As soon as this signal was issued, the market dealt a blow to HSBC head-on. HSBC used to have a lot of money coming in from China, but since last year, there has been a huge outflow of money from HSBC.

HSBC's customers are very realistic, there are thousands of banks in the world, and there is no need to trust a bank that has betrayed its teammates.

HSBC's recent "misconduct" includes a $1.5 billion fine for acting as a conduit for Mexican drug lords in the United States, as well as a huge tax evasion business through its Geneva branch. HSBC also clashed with regulators on several occasions during the investigation. The bank has been around for 155 years and has a wealth of expertise.

But its raison d'être is international, and it has been challenged like never before, including protectionism in the White House, Brexit and the pandemic. HSBC is like a microcosm of the struggles of all banks during this period of the pandemic.

HSBC leaked customer secrets and set up a bureau to frame customers, without integrity, and lost the qualification to open a bank, China should forever ban HSBC from handling deposit and loan business in China!

Summary. HSBC FX is a foreign exchange trading service provided by HSBC, which allows customers to conduct foreign exchange transactions through the HSBC foreign exchange platform, including buying and selling currency pairs, conducting foreign exchange arbitrage and other operations. HSBC forex offers a wide range of trading tools and services, such as foreign exchange trading accounts, trading platforms, market analysis and research reports, to help customers trade foreign exchange and manage risk.

HSBC Foreign Exchange is a foreign exchange trading service provided by Huiyu Lufeng Bank, which allows customers to conduct foreign exchange transactions through the HSBC foreign exchange platform, including buying and selling currency pairs, foreign exchange arbitrage and other operations. Huifeng Shengfeng FX provides a variety of trading tools and services, such as foreign exchange trading accounts, trading platforms, market analysis and research reports, etc., to help customers conduct foreign exchange trading and manage risks.

The trading toolkits provided by HSBC's forex platform include MetaTrader 4 and MetaTrader 5, so customers can choose the trading platform that suits their needs. In addition, HSBC FX also offers a variety of trading account types, such as standard accounts, ECN accounts, VIP accounts, etc., to meet the needs of different customers. HSBC FX also provides a wealth of market analysis and research reports, including technical analysis, fundamental analysis, market news, etc., to help customers understand market dynamics and trends and make more informed trading decisions.

In short, HSBC Forex is a professional foreign exchange trading service provider, providing customers with a comprehensive range of foreign exchange trading tools and services to help customers achieve their investment goals.

Can I buy HSBC Forex?

HSBC foreign exchange refers to the foreign exchange trading services provided by HSBC, which provides financial products and services including foreign exchange trading, *** trading, CFD trading, etc. On the HSBC foreign exchange platform, you can conduct *** trading, including **, **, etc., and you can also conduct ** CFD trading (CFD trading), but you need to note that these transactions are risky, and you need to understand the investment risks of the market and your own investment ability cracks, and make scientific and rational investment. It should be noted that investing in financial products such as ** and ** requires corresponding financial products and market knowledge and ability, and do not blindly follow market speculation or listen to rumors, so as not to cause unnecessary economic losses.

It is recommended that you learn relevant knowledge, understand the market and risks, and formulate a scientific and reasonable investment plan to reduce investment risks before making any balancing investment.

Is it illegal for someone to give me and buy him **** on HSBC foreign exchange?

If someone offers you a bank and asks you to use this to buy **** on HSBC Forex, you need to be very vigilant. This behavior may be suspected of fraud, and the travel chain should refuse to conduct the transaction and report it to the relevant departments in a timely manner. When trading forex, it is important to be cautious and vigilant, and you need to pay attention to all kinds of fraud.

It is recommended that you fully understand and learn before trading foreign exchange to reduce the risk of investment as much as possible. If you encounter suspected fraud in hail, you can report it to the local public security authority or relevant financial regulator in a timely manner.

HSBC's current situation in China is not promising.

HSBC Holdings**** is the holding company of the HSBC Group, headquartered in London, UK, and was established in 1991, but its subsidiary Wang Si has a long history. HSBC is one of the world's largest banking and financial services organisations.

HSBC has a strong international presence in six territories, with around 7,500 offices in 87 countries and territories in Europe, Hong Kong, the rest of Asia Pacific, the Middle East, North America and Latin America.

Redundancy news

As of August 2011, HSBC Holdings has reservations about the prospects of Europe and the United States, and has laid off 5,000 employees worldwide, and HSBC chief executive Au Zhihua said that another 25,000 people will be laid off by the end of 2013.

On June 17, 2020, according to foreign media reports, an internal memorandum from HSBC Holdings showed that the bank is resuming the large-scale layoff plan of 10,000 people that was previously suspended, and will continue to freeze almost all external hiring.

The above content reference: Encyclopedia - HSBC Holdings.

Summary. HSBC's current situation in China: HSBC is a global bank headquartered in London, England, with a relatively extensive presence in China.

At present, HSBC's business in China is mainly concentrated in the fields of retail banking, commercial banking and investment banking. At the same time, HSBC also has a series of joint ventures, including HSBC Hang Seng Bank and HSBC GCL Trust. In 2023, HSBC announced that it will add more than 2,000 employees in China to invest more resources in its retail banking and wealth management businesses.

In addition, HSBC recently launched an initiative called "Resist Plan", which aims to enhance the bank's competitiveness in China by optimizing its business structure and improving efficiency.

Does HSBC have a ** platform?

Dear, I'm still typing you about the current situation of HSBC in China. Sent to you right away. HSBC has a ** platform. <>

HSBC's current situation in China: HSBC is a global bank headquartered in London, England, with a relatively extensive presence in China. At present, HSBC's business in China is mainly concentrated in the fields of retail banking, commercial banking and investment banking.

At the same time, HSBC also has a series of joint ventures, including HSBC Hang Seng Bank and HSBC GCL Trust Chain Player. In 2023, HSBC announced that it will add more than 2,000 employees in China to invest more resources in its retail banking and wealth management businesses. In addition, Huihe Songfeng recently launched an initiative called "Resist Plan", which aims to enhance the bank's competitiveness in China by optimizing its business structure and improving efficiency.

As one of the world's leading financial institutions, HSBC has a wide range of businesses and customers in China. Here's what HSBC is doing in China:1

Business Scope: HSBC's business scope in China includes retail banking, commercial banking, investment and asset management, providing customers with comprehensive financial services. 2.

Network coverage: HSBC has about 170 branches in China, covering large and medium-sized cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chongqing, Chengdu, Hangzhou and Nanjing. 3.

Human Resources: With around 10,000 employees in China, more than half of whom are local, HSBC is committed to nurturing and recruiting local financial talent. 4.

Performance: HSBC's performance in the Chinese market has been good for a long time, with net profit reaching RMB100 million in 2019. 5.

Future development: HSBC actively responds to China's policy of reform and opening up of the financial market, continuously increases investment, strengthens cooperation with local enterprises and customers, and is committed to becoming a long-term partner of China's financial market.