2023-10-30 04:26:26
HSBC Bank’s profits during the third quarter fell short of analysts’ expectations, reaching $7.71 billion before taxes, according to the bank’s disclosure on Monday.
The achieved profits represented a growth of 139% during the same period last year, and expectations indicated a pre-tax profit of $8.1 billion. Revenue during that period increased just 40%, coming in close to the average forecast of analysts surveyed by Bloomberg.
The bank’s most prominent data during the third quarter:
Wealth sector revenues reached $6.72 billion, a growth of 71%. Commercial Bank revenues reached $5.42 billion, a growth of 22%. Global banking and markets profits reached $3.89 billion, a growth of 2.5%. The bank announced its intention to purchase treasury shares worth up to $3 billion.
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