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HSBC Holdings P L CHSBCSELLMar 02, 2016Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
HSBC 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.
Has had a myriad of problems going back to 2007. Was beset with regulatory, legal and earning problems. When you see a bank paying 7.5%, you immediately have to question if that is a sustainable dividend. Very difficult to analyse because its holdings are worldwide and is dealing in multiple currencies.