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<Research>Citi: HSBC (HSBA.L) Quarterly Performance Weak; Rating Buy Kept
Citi issued a research report stating that HSBC HOLDINGS (00005.HK)'s wealth management business recorded slower revenue growth than peers, heavier cost spend and larger impair...
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<Research>Citi: HSBC (HSBA.L) Quarterly Performance Weak; Rating Buy Kept
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Citi issued a research report stating that HSBC HOLDINGS (00005.HK)  -0.200 (-0.138%)    Short selling $301.78M; Ratio 16.013%   's wealth management business recorded slower revenue growth than peers, heavier cost spend and larger impairment charges.

Addressing these issues, management explained that this was due to the accounting treatment of CSM, growth figures for the wealth management distorted compared with peers; the rise in costs driven by FX fluctuations, reflecting timing issues on cost save recognition; and UK provision seen to be idiosyncratic.

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Citi expressed understanding of the above explanations and welcomed HSBC HOLDINGS' additional disclosures regarding private credit. The broker set a TP of GBP14.7 on HSBC (HSBA.L) and maintained a Buy rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)

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