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Opinions Craig Millar
HSBC Holdings P L CHSBCHOLDJun 03, 2014
Stock 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.
Most of their business is UK, Hong Kong derived as well as an investment bank. One of the largest commercial banks globally. Have over $1 trillion in deposits. They have a loan/deposit ratio that is very low, which is a big advantage. Over the last couple of years they have really decided to focus on the areas of the business that are growing and have a meaningful contribution to the overall group. They exited a lot of the businesses in Canada in order to focus on the bigger whales in order to move the needle of the company. Pays a dividend yield of over 5%. Very high quality bank.