The Traderszone Network

Published in TZ Latest News 19 April, 2015 by The TZ Newswire Staff

Britain’s bank tax jump threatens to push HSBC, StanChart to new home

HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful. Several investors told Reuters they want the two banks to do a thorough analysis on whether it makes sense to move after Britain raised the bank tax by a third last month. Some are expected to quiz bosses on it at shareholder meetings, including at an investor gathering in Hong Kong on Monday.

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