HSBC net profit more than doubles, announces buybacks of up to $2 billion
By 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 year as the bank continued to release allowances for expected credit losses amid rising vaccination rates and an improving economic outlook.
Revenue rose 1.0% to $12.01 billion, mainly driven by a favorable foreign-currency translation effect. "While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us," Group Chief Executive Noel Quinn said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia-Pacific stocks mixed as investors look ahead to HSBC earningsJapan stocks set to slip as investors look ahead to HSBC earnings
Read more »
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.
Read more »
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.
Read more »
Australia's cabinet set to meet on deal for net zero emissions target - sourcesAustralia's cabinet is expected to formally adopt a target for net zero emissions by 2050 when it meets later on Monday to review an deal reached between parties in Prime Minister Scott Morrison's coalition government, official sources told Reuters.
Read more »
Anti-Vax, Pro-Kyrie Irving Protestors Rally at Brooklyn Nets Arena Ahead of Home OpenerAnti-vax, pro-Kyrie Irving protestors rally at Brooklyn Nets arena ahead of Sunday's home opener
Read more »
Top oil exporter Saudi Arabia targets net zero emissions by 2060Saudi Arabia announces it aims to reach “net zero” greenhouse gas emissions by 2060, joining more than 100 countries in a global effort to try to curb man-made climate change.
Read more »