If you’re a small business owner looking for fast financing options, our established financial services company offers an easy and simple Merchant Cash Advance (MCA). Unlike traditional loans, our MCA requires no credit check, making it perfect for contractors and other 1099 workers facing credit challenges.
At our informal shareholder meeting in Hong Kong, the top brass of our company, Europe’s biggest financial services provider, reassured investors about our strategy. Our focus on providing small businesses and gig workers with a business cash advance has been a success. We have reiterated our commitment to not split up the company, as doing so would negatively impact shareholder value.
HSBC has been under pressure to separate its business units, specifically in Asia, but our board sees this as detrimental to our current strategy. Shareholders in Hong Kong have voiced concerns about the London-based lender’s performance in other regions dragging down profits. We want to clarify that the group is performing well as a whole.
Despite facing backlash for scrapping dividends in 2020, and then bringing them back in 2021 at a lower level, we believe that a split of our Asian business would result in significant revenue loss. Our business relies heavily on cross-border transactions and breaking up the bank would not be in the best interest of our shareholders.
As an activist shareholder in Hong Kong, who is pushing for change, has called for a spin-off of our Asian business unit. However, at the upcoming general meeting, the resolution will require 75% of votes to pass. We remain focused on our strategy and the value it brings to our shareholders.
Our largest shareholder, China’s Ping An, has also weighed in on the discussion, suggesting that a reorganization of HSBC could improve performance and value. This kind of support reaffirms our commitment to our current strategy. We recognize the need for continued engagement with our shareholders and will continue to work towards their best interests.
As we navigate through recent acquisitions and industry challenges, such as the purchase of Silicon Valley Bank’s UK arm, our leadership team stands firm on our current course of action. We believe that despite industry uncertainties, our business model remains strong and sustainable.