HSBC is tipped to launch a $2bn (£1.5bn) share buyback tomorrow, in the first phase of a three-year programme to run down its vast cash stockpile.
Britain’s biggest bank is expected to announce the investor windfall alongside its first-half results — which are forecast to show profits of $10bn.
HSBC has built up a stockpile of capital, with $400bn in excess deposits and $140bn in equity, according to analysts.
The decision to buy its own shares will be a clear signal to the market that HSBC plans to focus on boostings its share price, rather than spending money on acquisitions or breakneck expansion.
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