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HSBC Holdings plc

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Shares of HSBC have underperformed the industry on the NYSE in the past six months. Its fourth-quarter 2018 results benefited from improvement in revenues, partly offset by higher expenses. While the company is undertaking initiatives to improve its market share in the U.K. and China as well as strengthen digital capabilities globally, these are expected to lead to increase in expenses, thereby, hurting bottom-line growth to an extent. Moreover, dismal economic growth in Europe and weak loan demand will likely continue leading to muted revenue growth. Further, uncertainty related to Brexit and its financial implications remain a major concern for the bank in the near term.

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