HSBC rejects demerger of Asian business, citing huge risks

LONDON/SINGAPORE : HSBC said on Monday a demerger or spinoff of its Asian business risks huge one-off execution costs, higher taxes and ongoing running costs for the bank, in its most detailed rebuttal yet to calls from its largest shareholder to break up the bank.

Sources said in April that Ping An Insurance Group Co of China Ltd had urged HSBC to explore strategic options such as spinning off its mainstay Asian business to unlock greater shareholder value.

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HSBC earnings beat expectations, increases key profitability goalSINGAPORE :HSBC reported a 15 per cent dip in first-half profit as credit loss provisions rose, but the fall was not as bad as feared and Europe's biggest bank lifted its returns guidance in the belief that rising interest rates will boost revenue.In a sign of growing confidence in its ability to improve prof
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