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Morningstar: HSBC Profit to Dip in 2025 Before Rebounding

Summary by finews.asia

HSBC’s ambitious cost reduction plan is forecasted to result in a profit drop in 2025 before rebounding in 2026, according to a note by Morningstar. In its latest announcement of its 2024 results, HSBC unveiled plans to reduce $1.5 billion in annual costs by 2026 with involving an 8 percent cut in staff expenses. The bank noted that this is expected to result in $1.8 billion of severance and other up-front costs to be incurred over the next two …

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Morningstar: HSBC Profit to Dip in 2025 Before Rebounding

HSBC’s ambitious cost reduction plan is forecasted to result in a profit drop in 2025 before rebounding in 2026, according to a note by Morningstar. In its latest announcement of its 2024 results, HSBC unveiled plans to reduce $1.5 billion in annual costs by 2026 with involving an 8 percent cut in staff expenses. The bank noted that this is expected to result in $1.8 billion of severance and other up-front costs to be incurred over the next two …

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finews.asia broke the news in 2 days ago on Friday, February 21, 2025.

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