HSBC says guidance remains unchanged

HSBC (HSBC) said its guidance remains unchanged from that set out at its Interim results on July 31. The bank continues to target a mid-teens return on average tangible equity in 2024 and 2025, excluding the impact of notable items, while acknowledging the outlook for interest rates has changed, and been volatile, since its first half results announcement in July. HSBC’s banking net interest income guidance of around $43B for 2024 remains unchanged and it continues to target cost growth of approximately 5% for 2024 compared with 2023, on a target basis.