Reported 29 days ago
HSBC Holdings announced a 10% increase in third-quarter profits, reaching $8.5 billion, surpassing expectations amid rising wealth and wholesale banking revenues. The bank’s CEO hinted at a significant restructure but withheld details on potential cost savings, promising more information in February. Alongside strong earnings, HSBC initiated a $3 billion share buyback, signaling robust performance despite changes in interest rates and ongoing market volatility.
Source: YAHOO