HSBC profit more than triples on higher rates
Europe's largest bank posted a pretax profit of $12.9 billion for the first quarter ended March, versus $4.2 billion a year earlier.The results were better than the $8.64 billion average estimate of 17 analysts compiled by HSBC.The London-headquar...
By Reuters | Updated:
Reuters
HSBC Holdings reported a 212% increase in quarterly profit on Tuesday, as it benefitted from rising interest rates around the world.
Europe's largest bank posted a pretax profit of $12.9 billion for the first quarter ended March, versus $4.2 billion a year earlier.
The results were better than the $8.64 billion average estimate of 17 analysts compiled by HSBC.
The London-headquartered bank announced the first of a new cycle of buybacks along with the results of up to $2 billion
Europe's largest bank posted a pretax profit of $12.9 billion for the first quarter ended March, versus $4.2 billion a year earlier.
The results were better than the $8.64 billion average estimate of 17 analysts compiled by HSBC.
The London-headquartered bank announced the first of a new cycle of buybacks along with the results of up to $2 billion
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