HSBC Holdings PLC at Morgan Stanley Financials Conference (Virtual) Transcript

Mar 16, 2021 / 12:00PM GMT
Magdalena Stoklosa - Morgan Stanley - Analyst

Well, good afternoon and welcome. I am delighted to have Noel Quinn joining us today, CEO of HSBC of course. Before we go on to our questions, I've got a small polling question for the audience and it's quite simple.

What do you see as the single biggest driver for HSBC's share price in 2021? Is it NIM stabilization loan growth, number one? Number two, delivery of portfolio business sales, potentially France, retail US, further risk-weighted asset cuts? Number three, attainment of cost goals? Number four, dividend path? Number five, Asian macro recovery? We'll give you a couple of minutes and come back to that polling question.

Now, Noel, you've just communicated, of course, the refreshed strategy back in February. And really for your best-performing business, the strategy is essentially a bet on growth. So, of course growth in the underlying Asian markets, growth in fee generating business, growth in lending volumes. When you look at your revenue initiatives, which one of those is most transformational in your mind medium-term?

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