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Fitch: HSBC HOLDINGS' Planned Privatization of HANG SENG BANK Enhances Strategic Synergy
Recommend 15 Positive 23 Negative 19 |
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HSBC HOLDINGS (00005.HK)'s plan to privatize HANG SENG BANK (00011.HK) should enhance the strategic synergy and operational integration of HANG SENG BANK, Fitch Ratings stated, reaffirming HSBC HOLDINGS' A+ rating with a Stable outlook. Privatizing HANG SENG BANK should eliminate structural constraints on integration, making capital and resource allocation in HSBC HOLDINGS' Hong Kong operations more efficient, Fitch noted. Given HSBC HOLDINGS' strong execution record, Fitch believed such synergies are achievable in the medium to long term. Fitch mentioned that HSBC HOLDINGS' robust and prudent capital management will allow the bank's Tier 1 capital ratio to return to the target level of 14-14.5% in a relatively short time. AASTOCKS Financial News Website: www.aastocks.com |
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