HSBC Says New Accounting Standards Lower Its Net Assets, But Raise Capital Ratio
February 27 2018 - 6:27AM
Dow Jones News
By Adam Clark
HSBC Holdings PLC (HSBA.LN) said Tuesday that a change to
accounting standards has reduced its net assets by $1.0 billion,
but strengthened its capital position.
The emerging markets-focused lender said the new standards mean
its net assets fall by $2.23 billion due to additional impairment
allowances. The decline is partially offset by a $908 million
increase from the remeasurement of financial assets and a $320
million bump in net deferred tax assets, HSBC said.
HSBC said it remains strongly capitalized under the new
standards, which will lower its Common Equity Tier 1 ratio by 12
basis point, equivalent to a 1-basis-point increase to its
fully-loaded CET1.
Shares at 1045 GMT are down 3 pence at 718.40 pence.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 27, 2018 06:12 ET (11:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
HSBC (NYSE:HSBC)
Historical Stock Chart
From Mar 2024 to Apr 2024
HSBC (NYSE:HSBC)
Historical Stock Chart
From Apr 2023 to Apr 2024
