HSBC to Sell South Africa Business to FirstRand Bank with Transfer of Clients, Assets, Liabilities & Employees, International Wholesale Clients Will Have Access to HSBC Global Network, HSBC Global Clients can Access Corporate Banking Services in South Africa via FirstRand Bank, HSBC Partners with Absa to Provide HSBC Clients Access to Global Equities & Securities Finance in South Africa, HSBC Entered Into South Africa 29 Years Ago In 1995
1st October 2024 | Hong Kong
HSBC has announced to sell HSBC South Africa business to FirstRand Bank with transfer of HSBC clients, assets, liabilities & employees. HSBC International Wholesale Clients (FirstRand Bank) in South Africa will have access to HSBC global network, and HSBC Global Clients can access corporate banking services in South Africa via FirstRand Bank. HSBC has also partnered with Absa to provide HSBC clients with access to global equities & securities finance in South Africa. In 2024 August, HSBC was reported to be exploring selling HSBC South Africa business to focus on Asia. HSBC had entered into South Africa 29 years ago in 1995. In 2024 September, HSBC has been reported to be reviewing plan to merge HSBC Commercial Bank and Investment Bank. In 2024 July, HSBC reported $17.7 billion net profit (after tax) & $37.2 billion revenue for 2024 1st half, with a total of $1.8 trillion wealth balances, $390 billion private banking invested assets, $412 billion retail invested assets, HSBC Asset Management 3rd-party distribution $469 billion, and Wealth Deposits from Premier, Jade & Private Banking of $530 Billion AUM. For 2024 1st half, HSBC reported $32 billion in Net New Invested Assets, HSBC Asset Management with $684 billion AUM, HSBC Private Banking $479 billion AUM. HSBC Revenue Breakdown – Wealth & Personal Banking with $14.3 billion, Commercial Banking $10.8 billion, Global Banking & Markets $8.7 billion & Corporate Centre $3.3 billion.
“ HSBC to Sell South Africa Business to FirstRand Bank with Transfer of Clients, Assets, Liabilities & Employees, International Wholesale Clients Will Have Access to HSBC Global Network, HSBC Global Clients can Access Corporate Banking Services in South Africa via FirstRand Bank, HSBC Partners with Absa to Provide HSBC Clients Access to Global Equities & Securities Finance in South Africa, HSBC Entered Into South Africa 29 Years Ago In 1995 “
HSBC Reviews Plan to Merge Commercial Bank & Investment Bank, Reported to Explore Selling HSBC South Africa Business to Focus on Asia in 2024 August
13th September 2024 – HSBC has been reported to be reviewing plan to merge HSBC Commercial Bank and Investment Bank. In 2024 August, HSBC was reported to be exploring selling HSBC South Africa business to focus on Asia. HSBC had entered into South Africa 29 years ago in 1995. HSBC current market value at is at $157 billion. In 2024 July, HSBC reported $17.7 billion net profit (after tax) & $37.2 billion revenue for 2024 1st half, with a total of $1.8 trillion wealth balances, $390 billion private banking invested assets, $412 billion retail invested assets, HSBC Asset Management 3rd-party distribution $469 billion, and Wealth Deposits from Premier, Jade & Private Banking of $530 Billion AUM. For 2024 1st half, HSBC reported $32 billion in Net New Invested Assets, HSBC Asset Management with $684 billion AUM, HSBC Private Banking $479 billion AUM. HSBC Revenue Breakdown – Wealth & Personal Banking with $14.3 billion, Commercial Banking $10.8 billion, Global Banking & Markets $8.7 billion & Corporate Centre $3.3 billion.
HSBC Reported to Explore Selling HSBC South Africa Business to Focus On Asia, HSBC Entered Into South Africa 29 Years Ago In 1995
21st August 2024 – HSBC has been reported to be exploring selling HSBC South Africa business to focus on Asia. HSBC had entered into South Africa 29 years ago in 1995. HSBC current market value at is at $156 billion. In 2024 July, HSBC reported $17.7 billion net profit (after tax) & $37.2 billion revenue for 2024 1st half, with a total of $1.8 trillion wealth balances, $390 billion private banking invested assets, $412 billion retail invested assets, HSBC Asset Management 3rd-party distribution $469 billion, and Wealth Deposits from Premier, Jade & Private Banking of $530 Billion AUM. For 2024 1st half, HSBC reported $32 billion in Net New Invested Assets, HSBC Asset Management with $684 billion AUM, HSBC Private Banking $479 billion AUM. HSBC Revenue Breakdown – Wealth & Personal Banking with $14.3 billion, Commercial Banking $10.8 billion, Global Banking & Markets $8.7 billion & Corporate Centre $3.3 billion.
HSBC Reports $17.7 Billion Net Profit & $37.2 Billion Revenue for 2024 1st Half, Total $1.8 Trillion Wealth Balances, $390 Billion Private Banking Invested Assets, $412 Billion Retail Invested Assets, HSBC Asset Management 3rd-Party Distribution $469 Billion, Wealth Deposits from Premier, Jade & Private Banking $530 Billion, $32 Billion Net New Invested Assets, HSBC Asset Management $684 Billion AUM, HSBC Private Banking $479 Billion AUM, Revenue Breakdown – Wealth & Personal Banking with $14.3 Billion, Commercial Banking $10.8 Billion, Global Banking & Markets $8.7 Billion & Corporate Centre $3.3 Billion
31st July 2024 – HSBC has reported $17.7 billion net profit (after tax) & $37.2 billion revenue for 2024 1st half, with a total of $1.8 trillion wealth balances, $390 billion private banking invested assets, $412 billion retail invested assets, HSBC Asset Management 3rd-party distribution $469 billion, and Wealth Deposits from Premier, Jade & Private Banking of $530 Billion AUM. For 2024 1st half, HSBC reported $32 billion in Net New Invested Assets, HSBC Asset Management with $684 billion AUM, HSBC Private Banking $479 billion AUM. HSBC Revenue Breakdown – Wealth & Personal Banking with $14.3 billion, Commercial Banking $10.8 billion, Global Banking & Markets $8.7 billion & Corporate Centre $3.3 billion.
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