You can bank on HSBC
BANKS’ share prices have been hit hard by tougher regulation and a series of fines related to all manner of miscreant behaviour.
A favourite of investors for many years – not least because of its healthy dividend – HSBC has also fallen out of favour.
Its share price has fallen more than 17pc since April to 536.2p as China and emerging markets – so long a trump card for the global giant – turned sour. But the lender has been busy knocking the business into shape, and selling off unprofitable, unwanted parts of the group, including its Brazilian operation.
Thousands of jobs have also been cut as part of a concerted effort to boost returns for shareholders.
Whether it decides to up sticks to Hong Kong or Toronto, or stay put in London, HSBC remains a powerhouse and is well placed to prosper as and when emerging markets take a turn for the better.