The group posted a stronger-than-expected loss in the fourth quarter. The underlying profitability corresponded to a meagre 5.9% annualised ROE while management delivered a conservative message by signalling its confidence in maintaining the dividend this year. The commitment to return the rest of the equity freed up by the disposal of Brazilian operations will be of little help, confirming the lack of growth opportunities while the excess capital was already priced in.
21 Feb 2017
Defensive message
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Defensive message
HSBC Holdings Plc (HSBA:LON) | 638 28.1 0.7% | Mkt Cap: 120,473m
- Published:
21 Feb 2017 -
Author:
David Grinsztajn -
Pages:
2
The group posted a stronger-than-expected loss in the fourth quarter. The underlying profitability corresponded to a meagre 5.9% annualised ROE while management delivered a conservative message by signalling its confidence in maintaining the dividend this year. The commitment to return the rest of the equity freed up by the disposal of Brazilian operations will be of little help, confirming the lack of growth opportunities while the excess capital was already priced in.