HSBC said it would buy back up to $2 billion in stock after its third-quarter net profit jumped
Analysts had expected the banking giant to report profit of $2.22 billion for the quarter. Revenue was mostly flat at $12 billion.
HSBC said it reduced its provisions for bad loans by $659 million during the third quarter. A year ago, it had recorded $785 million in expected credit losses when concern about the economic impact of the coronavirus pandemic forced banks world-wide to prepare for massive loan losses. Many of those losses haven’t materialized. As the global economy recovers, lenders have been releasing past provisions and setting aside less for current loans, which boosts their profits.
“While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us,” HSBC Chief Executive Noel Quinn said in a statement. That, along with the group’s “strong capital position,” enabled HSBC to announce a share buyback of up to $2 billion that will commence soon, he added.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
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.
続きを読む »
Asia-Pacific stocks mixed as investors look ahead to HSBC earningsJapan stocks set to slip as investors look ahead to HSBC earnings
続きを読む »
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.
続きを読む »
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...
続きを読む »
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.
続きを読む »
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...
続きを読む »