HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focussed mainly on wealth management in Asia and the Middle East after posting a sharp drop in annual profit. Citing the low interest rate environment and tough market conditions, HSBC abandoned its long-term profitability goal of achieving a return on tangible equity of 10 to 12%, and said instead it will target 10% over the medium term. The bank said it would pay a dividend of $0.15 a share in cash, the first payout announced since October 2019, after the Bank of England blocked all big lenders from paying dividends or buying back shares in 2020 to conserve capital.
LEI: 213800WTQKOQI8ELD692 OneSavings Bank plc (the “Company”) Interest Rate reset on the £22,000,000 Perpetual Subordinated Bonds (the "Bonds") Key points: In accordance with the terms of the Bonds, the interest rate payable on the Bonds is subject to a resetting process from time to time, with the next reset becoming effective from and including 7 March 2021.Following the procedure set out in the terms of the Bonds, the interest rate has today been reset by the Company’s appointed Agent Bank, Peel Hunt LLP ("Peel Hunt").The revised rate of interest which shall be payable from and including 7 March 2021 is 3.4323%This rate will remain the effective rate payable on the Bonds until the next reset of interest rate, which is due to take effect on 7 March 2026. Interest Rate Reset The Company today announces the result of the interest resetting process applicable to its £22,000,000 Perpetual Subordinated Bonds. Under the terms of the Bonds,