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HSBC confident can maintain dividend, exceed cost targets - CEO
April 24, 2017 / 9:34 AM / 7 months ago

HSBC confident can maintain dividend, exceed cost targets - CEO

HONG KONG (Reuters) - HSBC Holdings Plc (HSBA.L) is confident it can maintain dividend payouts in the foreseeable future and expects to exceed risk-weighted asset and cost-saving targets, the bank’s chief executive Stuart Gulliver said on Monday.

FILE PHOTO: Logos of HSBC are displayed at a major branch at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip/File Photo

Despite earnings pressure, HSBC has retained its dividend payout ratio at a higher level in the last few years, at a time when some of its peers including Standard Chartered (STAN.L) withheld dividend payment for 2016.

The bank may have to move “some thousand roles” from Britain to Paris depending on how the country’s Brexit negotiations with the European Union unfold, chairman Douglas Flint added. The bank had previously said it expected to move around 1,000 roles.

Both executives were speaking during a meeting of shareholders in Hong Kong.

Reporting by Michelle Price; Editing by Muralikumar Anantharaman

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