Key facts: HSBC Agrees ASIC Settlement; Gemini Deal; HK Deposits +50%
HSBC Holdings (HSBA) agreed to settle ASIC proceedings over alleged scam protection lapses in Australia; settlement awaits approval by the Federal Court of Australia. HSBC (HSBA) struck a multi‐year deal with Google Cloud/DeepMind to roll out Gemini AI across operations, targeting 200+ AI use cases in two years, >$100M benefit per use case; shares rose ~1.4%. HSBC (HSBA) said Hong Kong deposits rose ~50% since early 2023, ~70% from non-residents. Added ~2M customers; Hong Kong customer base ~7M, targeting ~7.5M population level. HSBC (HSBA) launched TradeCash in the UAE, a digital trade‐finance platform aimed at digitizing and speeding trade finance for UAE clients.
Source: TradingView