HSBC share price: Bank falls to ninth place in biggest lenders list
HSBC Holdings Plc (LON:HSBA) retained its position in the top 10 banks in the world last year, though the global banking giant lost several positions from 2013, according toThe Banker magazine’s latest rank list. The list, which ranks lenders across the world based on profits and capital strength, showed that HSBC fell to ninth place last year from fifth in 2013, with $153 billion (£97 billion) of Tier 1 capital at hand. Based on profits alone, HSBC was seventh.
HSBC is the only UK bank in the top 10, with Barclays Plc (LON:BARC) ranked at 13th place (down from 12th place) and the Royal Bank of Scotland Group Plc (LON:RBS) fell to 19th place from 15th.
“At one time several UK banks were among a handful of truly global players,” The Banker’s Brian Caplen observed, as quoted by the International Business Times. “But since the financial crisis they have reduced their scope and are focussing on a fewer areas in a bid to restore profitability. We may have seen the end of the UK-based global bank.”
The 2014 list was dominated by Chinese banks, with the Industrial and Commercial Bank of China claiming the top place. The bank generated $59.1 billion in profits last year – the highest among global banks.
In today’s trading, HSBC shares were down 580.30p, as of 15:24 BST. The stock has fallen 4.6 percent since the start of the year, trimming the company’s market capitalisation to £113.3 billion.
As of Jun 26, 2015, the consensus forecast amongst 30 polled investment analysts covering HSBC had it that investors should hold their position in the company. The same consensus estimate has been maintained since November 26, 2014, when the sentiment of investment analysts deteriorated from “outperform”.
As of 16:08 BST, Monday, 29 June, HSBC Holdings plc share price is 580.70p.
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