HSBC reports first-quarter pre-tax profit of $9.4 billion (£6.96 billion), down from $9.5 billion (£7.0 billion) a year earlier, and it misses analysts’ expectations. Multiple outlets attribute the shortfall to higher-than-expected credit losses and an increase in bad-debt provisions. The Financial Times and Macau News link part of the deterioration to fraud-related credit charges in the United Kingdom, referring to a UK fraud case, alongside broader pressures from rising geopolitical risks. CNBC and the other reports characterize the decline as reflecting wider-than-expected credit losses, despite “solid performance” in the bank’s core businesses. Overall, the earnings results show that costs tied to credit risk outweigh strength elsewhere in the group during the quarter. The reporting remains consistent across sources on the profit figure, the year-on-year decline, and the reason for the miss: larger credit provisions and related losses than analysts had forecast.
HSBC Q1 profit falls short of forecasts as credit losses and provisions rise
HSBC reports first-quarter pre-tax profit of $9.4 billion (£6.96 billion), down from $9.5 billion (£7.0 billion) a year earlier, and it misses analysts’ expectations. Multiple outlets attribute the sh...
- HSBC’s first-quarter pre-tax profit is $9.4 billion (£6.96 billion).
- The figure is down from $9.5 billion (£7.0 billion) in the same quarter a year earlier.
- The result misses analysts’ expectations.
- HSBC cites higher-than-expected bad-debt provisions and credit losses as a key driver.
- Some outlets link the higher credit charges to fraud-related issues in the UK, alongside rising geopolitical risks.
HSBC Holdings reported a first-quarter pre-tax profit of USD9.4 billion on Tuesday, falling short of analyst expectations as the bank grappled with unexpected credit charges linked to a U.K. fraud case and rising geopolitical risks. While the London-based lender posted a solid performance across its core businesses, the bottom line fell short of the $9.59 […] The post HSBC Q1 earnings miss on higher credit losses appeared first on MACAU DAILY TIMES 澳門每日時報.
3 months agoThe UK lender reported first-quarter pre-tax profits of £9.4 billion US dollars (£6.96 billion), down from 9.5 billion (£7 billion) a year earlier.
3 months agoThe UK lender reported first-quarter pre-tax profits of £9.4 billion US dollars (£6.96 billion), down from 9.5 billion (£7 billion) a year earlier.
3 months agoFirst-quarter income falls $100mn to $9.4bn, missing analysts’ expectations
3 months ago
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