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Opinions Mark Grammer
HSBC Holdings P L CHSBCBUYNov 20, 2017
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.
It is a global bank, exposed to China, North America and the UK. They are doing extraordinarily well in Asia. They are very well placed for changes in banking in China. He expects them to do well there. We will see a new CEO coming in and it will be interesting to see what he does with the bank going forward. It is a safe investment at these levels.