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HSBC said in court on Thursday that the bank acknowledges the underlying facts, which involved transactions carried out by traders in Paris between 2014 and 2019
The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, the people said, asking not to be identified because the information is private.
HSBC’s plans reflect an increasing competition to manage the growing wealth in India among both global and local firms, which has enticed the London-based bank back to a market it decided to exit in 2015.
Europe's biggest bank by assets, however, said that this would likely be the only share buyback this year, as CEO John Flint looks to deploy more capital into its businesses to tap growth opportunities.
HSBC earlier this month chose veteran John Flint as its next chief executive, with its newly arrived chairman promoting an insider to drive revenue growth. Flint will take over as CEO in February next year.
Citi, Deutsche Bank and HSBC agreed to pay $33.4 million, $80 million and $18.5 million, respectively, according to the filing in Manhattan federal court. The settlements must be approved by U.S. District Judge Naomi Reice Buchwald.
The new joint venture will combine Dhruva's tax structuring expertise and Sanghai's experience in executing complex mergers and acquisitions, it said.
Pretax profit reached $10.2 billion in the six months through June, from $9.7 billion in the same period a year earlier, HSBC said in a statement. The result compared with the $9.5 billion average estimate of analysts polled by the bank.
Europe's biggest bank joins peers including JPMorgan Chase & Co and Morgan Stanley on the deal, which is expected to raise some $100 billion and is the centrepiece of the Saudi government's ambitious strategy to diversify away from oil.
Daniels cited a lack of evidence from the plaintiff investors that the defendants' alleged wrongful conduct had a substantial connection to or was "expressly aimed" at the United States.
Furse, a member of the Bank of England's Financial Policy Committee, will oversee the British retail banking and wealth management, commercial banking and global private banking operations of the lender, Sky News said.
In a brief filed with the 2nd US Circuit Court of Appeals, the US Department of Justice sought to overturn an order issued earlier this year by US District Judge John Gleeson to make public a report by the bank's outside monitor.
In 2013, the Financial Services Committee of the US House of Representatives, led by Jeb Hensarling, a Republican of Texas, began investigating the Justice Department's November 2012 decision to enter into a USD1.92 billion settlement agreement with HSBC.
HSBC Holdings Plc, Goldman Sachs Group Inc and JPMorgan Chase & Co have joined existing Bayer advisers Bank of America Corp and Credit Suisse Group AG in the loan facility, the person said on Thursday after the German newspaper Handelsblatt first reported on the news.
The deal between Bradesco and Europe's largest bank includes the latter's Brazilian retail banking and insurance units.
HSBC Holdings Plc said it sold its Brazilian unit to Banco Bradesco SA for USD 5.2 billion, retreating from the second-largest emerging market economy after years of feeble performance.
An estimated 10,000 to 20,000 jobs will be axed, Sky News said, citing unidentified sources. The number has not yet been finalised and Gulliver will lay out the plans at an investor presentation on June 9, the broadcaster said.
HSBC said that its Swiss arm had not been fully integrated into HSBC after its purchase in 1999, allowing "significantly lower" standards of compliance and due diligence to persist.
HSBC Holdings Plc, Europe's biggest bank, said it could take a hit of up to USD 1.6 billion in a settlement with a US regulator over allegations it mis-sold mortgage-backed bonds during the housing bubble.
HSBC Holdings Plc has agreed to pay $1.92 billion to settle a multi-year U.S. criminal probe into money-laundering lapses at the British lender, the largest penalty ever paid by a bank.
UK-based global banking giant HSBC Holdings Plc today said N R Narayana Murthy, co-founder of IT giant Infosys and the only Indian on its board, would retire as its director at the end of 2012.
HSBC Holdings Plc will put itself at the mercy of the US Senate on Tuesday, acknowledging shortcomings in its anti-money laundering operations and promising to fix what a scathing report called a "pervasively polluted" culture at the bank.
HSBC Holdings plc has agreed to sell its US credit card and retail services unit to Capital One Financial Corp for a premium of about USD 2.6 billion, as Europe's top bank streamlines its mammoth operations by shedding non-core businesses.
HSBC Holdings Plc is nearing a deal to sell its USD 30 billion-plus US credit card business to Capital One Financial Corp, sources familiar with the situation said on Tuesday.
Samsonite International SA, the world's biggest luggage maker, dropped 11% in its Hong Kong trading debut on Thursday, underscoring tepid investor appetite for initial public offerings as global markets struggle.
