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HSBC's buyback and dividend fail to lift the mood

The Asia-UK bank needs some new ideas after a disappointing end to the year
February 21, 2024
  • Accounting gains boost the bottom line
  • Uncertainty in China is a major problem

It was difficult to characterise the results for HSBC (HSBA) as anything other than disappointing, with earnings growth generated by a mixed bag of one-off accounting benefits that were the by-product of acquisitions and asset sales. In fact, even the announcement of a further $2bn (£1.6bn) share buyback, along with a possible special dividend in the second half of this year, were not enough to lift the mood and the shares fell notably on results day.

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