HSBC, StanChart, Singapore Banks Held Back by Lukewarm Loan Growth

HSBC, Standard Chartered, and Singapore banks are facing slow loan growth, impacting their net interest margins. The incoming CEO of HSBC will need to find ways to increase revenue in a falling rate environment. Standard Chartered expects to meet its net interest income guidance in 2024 and both banks are expected to announce buybacks. Singapore banks may see lending pick up in the second half. ICICI Bank is expected to have slow profit growth due to higher deposit costs. Standard Chartered may announce a $1 billion share buyback. HSBC's margins were supported by easing deposit competition. UOB's net income was likely pressured by property cooling measures. OCBC's revenue growth was held back by low loan growth.