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Opinions Darren Sissons
HSBC Holdings P L CHSBCBUYMay 15, 2014
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.
Global bank and its big earnings driver is effectively Europe and Hong Kong. Key driver for this bank is going to basically be Asia. Historically, like all trade banks, they have grown on the back of importing/exporting. This is ultimately moving back to its roots. Has underperformed, but like all banks it will be affected by higher interest rates. Performed very well during the recession. At this point it is good value and if it goes lower you could add more.