In its earnings announcement on August 1, HSBC may argue that its future depends on its global network of clients and services

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.

HSBC shares added 1.85% in morning trade, outperforming a flat local market. Top investor Ping An urged the bank to look at options such as spinning off its Asian business

HSBC's largest shareholder is calling for the group to break itself up, arguing the move would boost performance.

The lender said it earned over 36.3 billion yuan ($5.7 billion) last year. Meanwhile, its revenue grew 10.3% year-on-year to nearly 169.4 billion yuan