HSBC earnings transcripts reveal 47% rise in Asia discussions, says GlobalData
Volatility in the markets brought on by the covid-19 pandemic is forcing London-based HSBC Holdings to shift focus away from the low-return US and Europe markets to Asia.
Against this backdrop, mentions around Asia and related keywords grew by around 47% in HSBC s earnings transcripts in 2020 compared to 2019, reveals GlobalData, a leading data and analytics company.
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An analysis of GlobalData s Company Filing Analytics Database reveals that HSBC s earnings transcript sentiment score rose by around 20% in Q1 2021 driven by the positivity around digital banking, mobile payments and sustainability.
The bank expects to reduce its manual workflow and re-skill the employees involved in digital processes. HSBC s Asian drive also seems to be a step in the right direction as GlobalData expects retail banking to recover more in Asian economies in 2021 as compared to the US and Europe.