HSBC reports Q3 pretax profit $8.48B, consensus $7.6B
The Fly

HSBC reports Q3 pretax profit $8.48B, consensus $7.6B

Reports Q3 revenue $17.0B, consensus $16.03B. The bank’s common equity tier 1 capital ratio of 15.2% increased by 0.2 percentage points compared with Q2. The board approved a third interim dividend of 10c per share. HSBC (HSBC) said, “We delivered another good quarter, which shows that our strategy is working. There was strong revenue growth and good performances in Wealth and Wholesale Transaction Banking. Our strong organic capital generation enables us to announce a further $4.8bn of distributions in respect of the third quarter, which bring the total distributions announced so far in 2024 to $18.4bn…HSBC is a highly connected, global business and the plans we set out last week aim to increase our leadership and market share in areas where we have competitive advantage, deliver best-in-class products and service excellence to our customers, and create a simpler, more dynamic, more agile organisation with clearer lines of accountability and faster decision-making. We will begin to implement these plans immediately and will share further details as part of a business update alongside our full-year results in February.”

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