Meanwhile, reported revenue for the third quarter was $12 billion — 0.7% higher than a year ago. Analyst estimates compiled by HSBC had pointed to a 3.1% on-year increase in revenue to $12.3 billion.Net interest margin, a measure of lending profitability, was 1.19% — compared with 1.2% in the second quarter.
Basic earnings per share was 18 cents, compared with 17 cents in the second quarter and 7 cents in the third quarter of 2020. Ewen Stevenson, HSBC's group chief financial officer, said the bank's capital position has been "very strong." He said the bank wants to reduce its capital ratio to around 14% to 14.5% by the end of next year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HSBC announces surprise 74% rise in profits and $2 billion buybackHSBC Holdings reported a 74% rise in third quarter profit, beating market expectations, as the Asia-focussed bank released cash set aside for expected bad loans that have not materialised. Where did the profits come from? Hope not from creative accounting.
Source: Reuters - 🏆 2. / 97 Read more »
HSBC Says It Will Buy Back $2 Billion in Stock as Profit JumpsThe London-based bank, which makes most of its profit in Hong Kong and mainland China, earned $3.54 billion in the three months to the end of September, up from $1.36 billion in the same period last year. 😮 🇧🇷🇧🇷Left-wing senator David Alcolumbre prevents the appointment of the minister of the Supreme Court, but the PF arrested his cousin for international drug trafficking... awww isn't trickle-down economics just great for everyone? This is cold hard proof just how well it works.
Source: WSJ - 🏆 98. / 63 Read more »
HSBC bucks China property worries with 74% profit jump, $2 bln buybackHSBC Holdings reported a surprise 74% rise in third quarter profit as it shrugged off concerns about pandemic-related bad loans and property problems in its key market of China, allowing it to announce a share buyback of $2 billion.
Source: Reuters - 🏆 2. / 97 Read more »
Asia-Pacific stocks mixed as investors look ahead to HSBC earningsJapan stocks set to slip as investors look ahead to HSBC earnings this is terrible news Your waiting for a little sugar in coffee ☕ Infrastructure or the other ☝👎💰💰😋❗ Unfortunately that's apparently not true quarterly reports says its been put back reach lifetime payments
Source: CNBC - 🏆 12. / 72 Read more »
European markets set for modest rise, with earnings in focus; HSBC beatsEuropean stocks are set to open slightly higher on Monday as investors continue to monitor corporate earnings, Covid-19 and the inflation picture. good
Source: CNBC - 🏆 12. / 72 Read more »
HSBC Holdings 3Q Net $3.54B Vs. Net $1.36B |0005.HKBy Yifan Wang HSBC Holdings PLC's third-quarter net profit more than doubled from a year earlier, sustaining the strong earnings momentum posted so far this... thanks Replacing most of their branch staff with machines and slashing opening hours might have yielded short term profits but it’ll alienate long term.
Source: MarketWatch - 🏆 3. / 97 Read more »