HSBC says net profit jumps in third quarter but misses forecasts
Profit attributable to shareholders for the three months ended September stood at US$7 billion, up from US$4.87 billion a year earlier.
HSBC reported a 45.5% year-on-year increase in net profit for the third quarter, reaching US$7 billion. The London-based bank's total revenue rose by US$800 million to US$18.6 billion. Pre-tax profit grew by 32% to US$9.6 billion. CEO Georges Elhedery stated that the bank's simplification efforts were enhancing capacity for investment, growth, and strong returns for shareholders.
HSBC also announced a third interim dividend of US$0.10 per share and a second US$1 billion share buyback. The bank remains confident in meeting its targets set for 2026 to 2028, with a goal of 5% revenue growth in 2028 compared to 2027. HSBC expects at least US$46 billion in banking net interest income for 2025.
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