HSBC Holdings Plc announced a substantial investment in Dowsure, a Chinese fintech company specializing in cross-border e-commerce financing.

HSBC is preparing to report $1.5 billion of annual cost savings from the changes implemented under its broad restructuring initiatives, the Financial Times reported on Thursday.

Europe's biggest bank HSBC will inject $4 billion into its private credit funds, amid a wider push by banks into the booming market as profits from traditional lending have come under pressure.