HSBC restarts plan for 35,000 job cuts after three month delay

HSBC has lifted the three-month pause on its restructuring plan which will see the bank cut up to 35,000 jobs.  

Published 18 June 2020

HSBC profits plummet by 48%

HSBC has announced that its profits before tax have dropped by 48% to $3.2 billion as the coronavirus pandemic wreaks havoc on the global economy.

Published 28 April 2020

Bank shares drop after regulator orders dividend suspension

Banks across the UK have seen their share prices drop as they were forced to freeze dividend payments and share buybacks after the Bank of England's Prudential Regulation Authority (PRA) called for the dividends to be suspended.

Published 2 April 2020

Banks backtrack on personal guarantees after public backlash

Following growing criticism, high street banks have backtracked on loan requirements which insisted that business owners provide personal guarantees for government-backed loans.

Published 27 March 2020

Mounting pressure on banks to block £7.5bn dividends

Sir John Vickers, former chairman of the Independent Commission on Banking, has called upon the Bank of England to block more than £7.5 billion of dividends to be paid out by banks.

Published 27 March 2020

COVID-19 to delay HSBC restructuring

The impact of the COVID-19 outbreak has forced HSBC to delay its restructuring plans announced earlier this year.

Published 27 March 2020

HSBC to close 27 more branches in UK this year

HSBC will close a further 27 branches this year due to an increase in customers moving to online and digital banking.

Published 26 February 2020

HSBC to cut 35,00 jobs as pre-tax profits plummet by a third

HSBC has revealed a new radical restructuring plan which will see the bank cut 35,000 jobs as the company saw pre-tax profits drop by 33%.

Published 18 February 2020

HSBC appoints former Standard Life boss David Nish as senior independent director

HSBC has appointed former Standard Life boss David Nish as senior independent director and chairman of the group audit committee.

Published 21 January 2020

IAAS appoints former HSBC banker Neil Wilson as executive director

The Institute of Auctioneers and Appraisers in Scotland (IAAS) has appointed Neil Wilson, former head of agriculture at HSBC Bank, as its executive director.

Published 17 January 2020

UK banks braced for 'Armageddon' test

The UK's six biggest banks and building society Nationwide are braced for today's results of the most exhaustive test of their ability to stand firm against 'Armageddon'.

Published 16 December 2019

HSBC to offer bank accounts to homeless people

HSBC is currently working with charities in the UK to help homeless people who do not have permanent or fixed addresses, or photo ID, to open bank accounts.

Published 16 December 2019

Malcolm Group appoints former HSBC Scotland chief executive Alison McGregor as chair

Alison Mcgregor has been appointed as chair designate of the board of the Malcolm Group.

Published 2 December 2019

HSBC and Santander to refund customers after CMA action

HSBC and Santander have agreed to refund customers after they both broke a legal order.

Published 29 November 2019

Fears over job cuts arise from HSBC restructuring plans

Employees at HSBC are concerned about potential job cuts after the bank announced it plans to restructure its business amid an "unacceptable" performance in parts of Europe and the US.

Published 29 October 2019