Zhītōng Cáijīng APP has learned that Goldman Sachs has released a research report stating that it has a "buy" rating for HSBC Holdings (00005) and believes that the catalyst for the stock price will be the launch of a share buyback plan. The management is considering selling more Canadian businesses to provide funds for its repurchase plan; therefore, the target price is set at HKD 81. Goldman Sachs expects that HSBC Bank will benefit from the growth of its Asian wealth management business, and expects that the bank's ROTE for the 2024 fiscal year will be 14.8%, which is higher than the average of Hong Kong banks.

The report cited the company's management's expectations that HSBC Bank will continue to benefit from the onshore and offshore interest rate spreads in China and the growing diversification of Chinese household wealth needs, and that its insurance products will be a core pillar of outstanding performance in the wealth management field. The management stated that HSBC Bank will expand its customer base through its global network and digital platform. HSBC Holdings also confirmed its intention to strengthen its unsecured loan business and aim to increase its bank card loan volume by double digits.