Third-quarter underlying revenue rose 4.5% to $18.7bn ($19.0bn expected). That was driven by higher banking net interest income, plus stronger transaction banking and trading fees.
Underlying profit before tax rose 10% to $10.0bn. Credit impairments fell 17% to $0.8bn ($1.1bn expected).
The CET1 ratio, a key measure of financial resilience, was 13.9% at the end of the quarter, just below the 14.0-14.5% target range. A third interim dividend of $0.10 per share was announced alongside a new share buyback of up to $1bn.
Full year guidance was maintained, including banking net interest income of 'at least' $46bn.
The shares were up 1% in early trading.
Our view
HL view to follow.
HSBC key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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