Hongkong and Shanghai Banking Corporation (HSBC) may move back to HongKong

HSBC says may leave UK, warns on global slowdown


Europe's biggest bank reported a 36 percent fall in third quarter profits as the euro zone debt crisis hit investment bank income and bad debts jumped almost $1 billion in the United States as homeowners stopped paying their mortgages.

Extra British regulations could cost $2.5 billion a year, which the bank said on Wednesday may be "too high" to stay, though it would delay its decision to move its headquarters back to Hong Kong or elsewhere until at least next year.

HSBC's shares fell more than 6 percent, as analysts said underlying profits of $3 billion in the three months to the end of September fell short of expectations and there was also disappointment on rising costs and U.S. bad debts.

Comment: HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank (Source). More on The Hongkong and Shanghai Banking Corporation. We don't have HSBC (HBC) stock but it could be a solid investment.

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