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HSBC will announce its full-year earnings on 22 February, and traders are expecting revenue of $60.39 billion with an adjusted net income of $15.8 billion. These figures will equate to a 1.3% fall in revenue and a 4% drop in adjusted net income.
The bank will also reveal its second-half figures on the same date, and investors are anticipating revenue of $27.5 billion with an adjusted net income of $6.1 billion, which compares with the first-half revenue and adjusted net income of $32.94 and $9.64 billion respectively.
HSBC has had a rough ride along with the rest of the banking sector, as fears of a global recession are mounting. The bank has a large exposure to Asia and the slowdown in China has been particularly painful for HSBC’s share price. Despite good profit growth in its Asian division in the first-half, investors are getting out of HSBC for fear that China’s cooling off will be a hard landing. The finance house is headquartered in London, but according to Bloomberg the bank is to review this at a meeting in mid-February.
The UK’s membership of the EU is one of the factors that is prompting the relocation debate, and if the bank remains in the UK, the so-called ‘Brexit’ risk will be added to HSBC’s woes.