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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

HSBC calls for vetoing split proposal

HSBC has also announced three quarterly dividends totalling $0.30 per share. (AFP)
  • HSBC argued this was the best and safest way to continue to deliver substantially more value for shareholders.
  • The banking giant called on shareholders to vote against the proposal at the bank's annual general meeting on May 5.

London, United Kingdom – Banking giant HSBC on Wednesday reached out to shareholders, urging them to vote down a proposal by its largest stakeholder, Chinese insurer Ping An, to split the business.

It comes after Ping An on Tuesday ramped up pressure over its break-up strategy that it claims is necessary to improve performance at London-based HSBC.

Responding, the Asia-focused lender wrote in a letter to shareholders that “the board strongly believes that HSBC should focus on executing the current strategy that is delivering”.

HSBC argued this was “the best and safest way to continue to deliver substantially more value for shareholders over the coming years”.

It called on shareholders to vote against the proposal at the bank’s annual general meeting on May 5.

In a rare public statement Tuesday, Ping An had said HSBC was lagging behind international peers and a recent improvement in performance was tied to rising interest rates, which have now peaked.

Ping An outlined revised proposals for restructuring that highlight HSBC’s precarious position as US-China tensions rise, with some observers doubting whether Europe’s largest lender can continue to straddle East and West.