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Opinions Darren Sissons
HSBC Holdings P L CHSBCBUYDec 05, 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.
Believes this was the only large cap British bank that did not cut their dividend. Had some struggles during the recession. Very good balance sheet. The UK is starting to exit the recession and, given the strength of the London capital markets, an increase in interest rates is going to create a lot of employment in London, which will be good for this bank. Also, exposed globally.