BofA Securities issued a research report saying that HSBC HOLDINGS (00005.HK) -3.800 (-2.724%) Short selling $517.81M; Ratio 26.092% recently completed the privatization of Hang Seng Bank, and estimating a total pre-tax synergy effect of approx. US$800-900 million, including both cost and revenue synergies. The broker expected that 20% of Hang Seng's cost base will have synergy benefits, as Hang Seng's costs are already highly efficient and it will continue to operate as a separate brand while retaining its own branch network.Related NewsJPM Foresees 2025 Divergent Earnings Momentum Among HK Banks, Favors HSBC/ StanchartHSBC HOLDINGS is one of its top picks for this year, as HSBC HOLDINGS projected significant growth in Hong Kong deposit business and Asia wealth management business. HSBC HOLDINGS already has substantial competitive advantages in relevant areas, while management has committed to increasing investment in these fields. Therefore, the broker now rated HSBC HOLDINGS at Buy, with a target price of $149.6.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-02-13 16:25.)