HSBC Holdings plcs (HSBC – Free Report) strong capital position, initiatives to strengthen digital capabilities, an extensive network and improvement in operating efficiency through business restructuring will likely keep aiding growth. Exiting the U.S. and French retail banking operations is expected to help the company focus more on Asia.
The Zacks Consensus Estimate for HSBCs current-year earnings has been unchanged over the past 30 days. Its 2023 earnings estimates have been revised marginally upward. The company currently carries a Zacks Rank #2 (Buy).
Over the past year, shares of HSBC have gained 3.5% against a 5.4% decline recorded by the industry.
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HSBCs transformation plan…
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