While the global financial crisis has been nothing less than traumatic for all banks, HSBC has emerged from the turmoil in relatively better shape.
A disaster of the scale of the blow-up HSBC saw in its US consumer finance business would have been enough to bring down many banks. But it has more than just survived – thanks to a solid capital base and an international spread of business, with a large chunk of it in Asia.
Its resilience has been rewarded with a robust share price that has more than doubled since market lows in March, outperforming global peers by 7 per cent.
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