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Opinions Darren Sissons
HSBC Holdings P L CHSBCBUYOct 24, 2013
Darren SissonsStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Darren SissonsDarren Sissons
Darren SissonsHSBC vs. ING. HSBC is a global bank, strong in Asia and the UK. ING is already restructured, more of a retail bank. Neither is expensive. But you can buy US banks at cheap multiples today. US banks are in better shape, more capital, fewer issues to worry about like negative interest rates. (Analysts’ price target is $45.90)
ING vs. HSBC Neither. He won't touch any European bank given negative interest rates. Period. HSBC does a lot of international lending and international flows aren't well-received by regulators; and they lend to the Far East. HSBC isn't a leader in many categories. ING, at least, leads in online banking in Europe, but they have loaned heavily to energy.
One of the good things about this is it is a behemoth and is pretty much everywhere. Didn’t blow up during the global financial crisis. Had a risk management culture, which a lot of banks didn’t. Thinks they are going to return to their roots where they are going to start to look at the trade finance, which is the import/export business. Any increase in the interest-rate to going to benefit this company. It will be the low risk play in terms of UK banks.