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Top related persons:
Noel Quinn - 1 Quinn - 1 Selena Li - 1 Lawrence White - 1 Himani Sarkar - 1
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HSBC - 1 Hong - 1 HSBC Holdings - 1 HK - 1 Nationwide - 1 Sohar International Bank - 1 Thomson - 1

Search resuls for: "Sohar International Bank"


2 mentions found


☆ HSBC lifts outlook, launches $2 bln buyback as rising rates boost income
  + stars: | 2023-08-01 | by ( Selena Li Lawrence White | Selena Li | Lawrence White | ) www.reuters.com   time to read: +4 min
HSBC (0005.HK) raised its near-term return on tangible equity goal to at least mid-teens for 2023 and 2024, from a previous target of at least 12% from 2023 onwards. It reported return on tangible equity of 9.9% for 2022. That reflected an environment where rising interest rates around the world are boosting lending income, while a global deal drought and volatile markets suppress revenues from investment banking and trading. The lender lifted its forecast for net interest income this year to be above $35 billion instead of $34 billion, although some analysts had looked for an upgrade nearer to $36 billion. ($1 = 7.7969 Hong Kong dollars)Reporting by Selena Li and Lawrence White; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.
Persons: Noel Quinn, Quinn, Selena Li, Lawrence White, Himani Sarkar Organizations: HSBC, Hong, HSBC Holdings, HK, Nationwide, Reuters, Sohar International Bank, Thomson Locations: Hong Kong, HONG KONG, London, Britain, China, Asia, Oman, Russia, New Zealand
☆ HSBC Oman, Sohar International Bank ink merger pact
  + stars: | 2022-11-16 | by ( Hadeel Al Sayegh | ) www.reuters.com   time to read: +1 min
DUBAI, Nov 16 (Reuters) - HSBC Bank Oman and local rival Sohar International Bank have entered into a binding merger agreement, the two lenders said on Wednesday. All assets and liabilities of HSBC Oman will be transferred to Sohar International, the banks said in two separate regulatory announcements, without disclosing the deal value. On completion of a merger, HSBC Oman will cease to exist as a legal entity and its shares will be cancelled, the banks said. The shares that form a part of consideration to HSBC Oman shareholders will value Sohar International at 1 times book value, they said. With this decision, HSBC Oman and Sohar International will join other lenders of neighbouring Gulf countries in consolidating their operations.
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