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Finance

HSBC signals plan to resume dividend as loan losses stabilize

Bank also flags shift to fee-based businesses as low rates cripple revenue

HSBC did not pay a dividend this year on orders from British regulators, angering investors.   © Reuters

HONG KONG -- HSBC Holdings flagged a desire to resume paying dividends next year as coronavirus-induced loan losses stabilized, and said it plans to shift focus toward fee-generating businesses and reduce reliance on interest income.

The bank's plans follow better than expected third-quarter results after provisions for loan losses dropped for the first time since the onset of the coronavirus pandemic -- indicating the economy recovery underway.

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