LONDON, May 15 (Reuters) - HSBC said hitting itsprofitability target this year will be a challenge as therun-off of its U.S. loan book remains a drag, but it said itwould stick with its goal to get return on equity (RoE) over 12percent.
"It will be a challenge to get there (this year)," HSBCChief Executive Stuart Gulliver said of the bank's RoE target."But there are two big run off businesses that distort thenumber ... core HSBC is already in that target range," he toldreporters on a conference call.
Gulliver said the bank will shed up to 14,000 more jobsunder its plan to cut another $3 billion in annual costs, but nospecific country had been targeted. "These cuts will be spreadquite thinly around the world," Gulliver said.