HSBC Bank is working hard to convince its largest shareholder, Ping An, that it is better to be a sole proprietorship. Other investors are unlikely to object to its convincing means, including higher cash returns.
Anglo-Asian Bank pushed back on Monday’s hardship against Recommended by Ping An that it should be divided into East and West sections. It has a useful background better than expected second quarter results. Profit after tax of $5.8 billion, up year-on-year thanks to higher revenue, lower expenses, and a deferred profit margin of $1.8 billion, although its core capital ratio was slightly disappointed. The bank’s shares were up about 7% in morning trading.
