Brazil watchdog's ruling on HSBC unit sale seen as key to dividend payout
London
BRAZIL'S antitrust watchdog Cade is due to reveal on Wednesday whether HSBC Holdings Plc can sell its Brazilian unit to Banco Bradesco SA, a decision with big implications for the British bank's chief executive officer Stuart Gulliver and shareholders.
Mr Gulliver is counting on the US$5.2 billion sale of HSBC Bank Brasil Banco Múltiplo SA to boost HSBC's main capital ratio and ensure the bank remains the biggest dividend payer among European banks.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge