HSBC Reports Huge Q3 2023 Profits, Unveils Share Buy-Back
In light of HSBC’s robust results, the banking giant’s board approved a third interim dividend of 10 cents per share.
HSBC to Accelerate Restructuring Plan as Its Third-Quarter Profit Tumbles 35%
By Darya Rudz
As HSBC has reported, its third-quarter profit before tax is down 36% year-on-year, at $3.1 billion. The after-tax figure is $2 billion (46% down), adjusted profit before tax is down 21% to $4.3 billion.
HSBC Shares Rise 10% as Ping An Insurance Increases Its Stake to 8%
By Tolu Ajiboye
HSBC Hong Kong shares rallied as its largest single stakeholder Ping An bought 10.8 million shares, increasing its stake to 8%.
HSBC Stock Down 5% in Pre-market, HSBC Profits Tank 65% During First Half of 2020
The lowering interest loans and rising bad loans in H1 2020 have impacted the bank’s profitability to a great extent. HSBC also faces major challenges for its global restructuring plans due to the rising geopolitical tensions between the U.S. and China.