HSBC Aims Mid-teens Return on Avg. Tangible Equity in 2025, Div. Payout Target of 50% for 2024

　　HSBC HOLDINGS (00005.HK) +1.000 (+1.496%) Short selling $129.38M; Ratio 20.480% has just announced the interim results for 2024. Noel Quinn, Group Chief Executive, said that after delivering record profits in 2023, the bank had another strong profit performance in the first half of 2024, which is further evidence that its strategy is working. It can still grow revenue even in a lower interest rate environment, and it is therefore providing new guidance of a mid-teens return on average tangible equity in 2025. A dividend payout ratio target basis of 50% for 2024 was reiterated, which excludes material notable items and related impacts.

　　HSBC will now target a return on average tangible equity (RoTE), excluding the impact of notable items, in the mid-teens for both 2024 and 2025. Based upon its current forecasts, it expected banking NII of around US$43 billion in 2024. This guidance remains dependent on the path of interest rates globally. HSBC intended to manage its CET1 capital ratio within its medium-term target range of 14% to 14.5%.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-31 12:25.)

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