HSBC net profit rises in Q3 but misses forecasts
Banking giant HSBC on Tuesday said net profit in the third quarter rose a less-than-expected 45.5 percent year-on-year as the London-headquartered lender continued to restructure operations and cut costs. Profit attributable to shareholders for the three months ending in September stood at US$7 billion, from US$4.87 billion a year earlier, HSBC said in a filing to the Hong Kong stock exchange.…
HSBC reported a third-quarter net profit of US$7 billion, up 45.5 percent year-on-year, but missing analysts' forecasts. Shareholder profit climbed to US$9.6 billion, a 32 percent increase, while revenue grew by US$0.8 billion to US$18.6 billion. CEO Georges Elhedery emphasized the bank's restructuring efforts to bolster investment capacity and shareholder returns.
The bank approved a third interim dividend of US$0.10 per share and announced a second US$1 billion share buyback, following the previous one in three months. HSBC remains confident in meeting its targets, aiming for 5 percent revenue growth from 2026 to 2028, up from 4 percent in 2027. Expected credit losses fell 17 percent to US$800 million, largely due to reduced charges from Hong Kong's real estate sector and its UK and Mexican wealth businesses. HSBC projected at least US$46 billion in net interest income for 2025.
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