HSBC's Annual Shareholder Meeting turned into a fiery showdown as investors, particularly those in Hong Kong, demanded a breakup of the multinational financial giant. They argue that international ventures are dragging down the bank's Asian business performance, jeopardizing profits for shareholders in its largest market.

The frustration stems from a perceived loss of profits in Asia while other regions benefit, compounded by the memory of the 2020 dividend scrap that impacted small shareholders relying on those payouts.

Adding fuel to the fire is Ping An, HSBC's largest shareholder, who joined the chorus for restructuring, urging the bank to boost valuation and streamline global operations. Their stance adds weight to the growing dissatisfaction with the current structure.

While HSBC's leadership insists that a breakup would be detrimental, claiming it would cause revenue declines due to their global operations and cross-border activities, the tension underscores shifting power dynamics in the financial world. The debate centers on the future of HSBC and whether international banking remains a viable model in the face of diverse investor demands and volatile global markets. With tensions escalating, it remains unclear whether HSBC will remain united or succumb to pressure to break apart to appease various interests.