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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Delayed Quote. Delayed London Stock Exchange - 01/26 11:39:47 am
522.4 GBX   +2.67%
01/26Barclays Ups HSBC PT, Keeps Overweight Rating
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Global banking bigwigs slapped with millions in fines for FX cartel

12/03/2021 | 01:21am EST

A GROUP of some of the world's largest banks were yesterday slapped with millions of pounds in fines for their role in rigging foreign exchange markets.

HSBC, Barclays, Credit Suisse and Natwest were each reprimanded by the European Commission for having employees on their books that created a cartel that spiked currency markets.

HSBC was hit with the biggest fine at £148.3m, followed by Credit Suisse, which was hit with a £70.8m penalty.

Barclays and Natwest, formerly RBS, were whacked with £46.2m and £27.6m fines respectively.

HSBC, Natwest and Barclays admitted to the offences in exchange for a reduced penalty.

Swiss bank UBS narrowly avoided a fine as it told the European Commission about the existence of the cartel, managed through a chatroom called "Sterling Lads".

The group of traders, each working for banks that compete against each other in foreign exchange markets, shared sensitive information and coordinated strategies via the chatroom, the Commission said.

(c) 2021 City A.M., source Newspaper

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Analyst Recommendations on HSBC HOLDINGS PLC
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Financials (USD)
Sales 2021 50 022 M - -
Net income 2021 12 281 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,9x
Yield 2021 3,57%
Capitalization 141 B 142 B -
Capi. / Sales 2021 2,83x
Capi. / Sales 2022 2,68x
Nbr of Employees 223 448
Free-Float 98,2%
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Technical analysis trends HSBC HOLDINGS PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 7,04 $
Average target price 7,22 $
Spread / Average Target 2,52%
EPS Revisions
Managers and Directors
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Chief Financial Officer & Executive Director
Mark Edward Tucker Independent Non-Executive Director
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
Sector and Competitors