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HSBC bets on Asia after falling profits and cuts its forecasts
HONG KONG / LONDON, Feb 23 (.) – HSBC Holdings PLC dropped its long-term profitability target on Tuesday and unveiled a revised strategy focused primarily on wealth management in Asia, after the impact of the pandemic plunged sharply. blaming the low interest rate environment and tough market conditions, HSBC dropped its goal of achieving a return on tangible equity of 10-12%, saying it will instead aim at 10% in the medium term.
