HSBC and Ping An executives plan to meet in mid-May to discuss the insurer's proposal for the bank to spin off its Asian business, according to a source.

The bank expects revenue to grow an extra 3% per year as it benefits from rising interest rates as policymakers look to turn off years of cheap funding

The TCS buyback - representing 1.08% of total paid-up equity share capital at 4,500 rupees each - is proposed on a proportionate basis

The company said in a filing that it would press ahead with a plan to buy back up to 2.05 billion shares, worth nearly $13 billion