<div id="readability-page-1"> London-based HSBC expressed confidence in its decision to privatize Hong Kong lender Hang Seng, anticipating cumulative benefits of nearly $1 billion. HSBC expects the privatization of Hang Seng Bank to generate $900 million in total benefits, according to the bank’s strategic report. This includes the realization of $500 million in synergies alongside the ambition of $400 million in additional revenue and cost opportunities by the end of 2028. Associated restructuring costs are estimated to be $600 million. «Our $13.7 billion privatization of Hang Seng Bank brings together 255 years of history and heritage, combining global reach and local depth. It allows us to scale capabilities across both banks for all customers,» said HSBC CEO Georges Elhedery. «The privatization of Hang Seng Bank reflects our confidence and conviction in Hong Kong’s future growth.» On January 26, HSBC completed the privatization of Hang Seng following shareholder and court approval. Prior to the deal, the British bank already held a 63 percent stake in the local lender. </div>

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HSBC has announced its confidence in the privatization of Hong Kong lender Hang Seng, expecting nearly $1 billion in cumulative benefits. The bank anticipates $900 million in total benefits, including $500 million in synergies and $400 million in additional revenue and cost opportunities by 2028, with restructuring costs estimated at $600 million. HSBC CEO Georges Elhedery emphasized the strategic importance of this $13.7 billion deal, which aims to enhance capabilities across both banks. The privatization was completed on January 26, following necessary approvals, with HSBC previously holding a 63% stake in Hang Seng.

- HSBC announced its successful privatization of Hang Seng Bank, projecting cumulative benefits of nearly $1 billion.  
- The bank expects to achieve $900 million through synergies and additional revenue by 2028, while associated restructuring costs are estimated at $600 million.  
- HSBC aims to strengthen operations in Hong Kong, emphasizing its commitment to the region's growth following the completion of the deal on January 26.

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