[ET Net News Agency, 4 August 2020] Credit Suisse said HSBC Holdings' (00005) 2Q
results missed across key items including NII (net interest income), fee income, and loan
loss provisions (ECL).
In addition, in its outlook, management highlighted further NII headwinds from rates in
FY2021 and meaningfully increased its FY2020 expected credit loss (ECL) range to between
US$8bn-US$13bn versus previous guidance of between US$7bn-US$11bn.
Credit Suisse said the capital was better at 15% (14.9% fully loaded) though management
only expects to present its capital distribution policy at the time of FY2020 results.
Credit Suisse maintained its "underperform" rating, with a target price of GBP3.7, or
HK$37.54. (KL)
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00005 HSBC HOLDINGS
Nominal 
61.850 -0.800 (-1.277%) Others
04/08/2020 15:50
{I-bank focus}HSBC's 2Q results miss across key items - CS
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