By Elena Vardon

HSBC Holdings on Monday issued a medium-term growth outlook for its Asian business.

The lender--which is listed both in London and Hong Kong--sees high-single digit percentage wealth revenue growth in the region over the next three to four years. It also targets mid-single digit percentage lending growth over the medium-to-long-term but is more cautious in the short-term, it said.

A return on tangible equity in the mid-teens is targeted, the bank said. For 2023, it still sees a return on tangible equity of at least 12%, it added.

"Today's ambitions show the strategy is working, we are generating strong returns for our shareholders and we are confident there is more to come," Chief Executive Noel Quinn said ahead of a presentation on HSBC's operations and ambitions in mainland China and Hong Kong.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

May 15, 2023 02:33 ET (06:33 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
HSBC (NYSE:HSBC)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos HSBC.
HSBC (NYSE:HSBC)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos HSBC.