Tuesday, May 7, 4:45 AMHSBC (HBC): Q1 pretax profit of $8.43B beats by $330M. Underlying pretax profit +34% Y/Y to $7.6B. Core tier 1 capital rises to 12.7% from 12.3% in Q4.
Comment![Earnings, Financials]
Monday, March 4, 3:37 AM
More on HSBC (HBC) 2012: EPS -20% to $0.74. Notable items include $1.9B of fines for compliance breaches and $1.4B for mis-selling of financial products in U.K. Return on equity 8.4% vs 10.9% in 2011. Revenue breakdown: Global Banking & Markets +10% to $18.2B, Commercial Banking +8% to $15.9B; Retail Banking & Wealth Management +6% to US$27.7B. Over half of underlying revenue came from faster-growing regions. (PR)
Comment![Earnings, Financials, Top Stories, Breaking News]
Monday, November 5, 2012, 4:11 AM
More on HSBC (HBC) Q3: earnings aided by a sharp drop in bad debts, as well as by growth in Global Banking and Markets, mainly in Rates and Credit as eurozone conditions stabilized relative to last year, and in Commercial Banking, where net interest income rose. Generates cost savings of $500M, taking total annualized savings to $3.1B. Remains confident in its outlook for growth in China. Shares -1.45% in London. (PR)
Comment![Earnings, Financials]
Monday, November 5, 2012, 4:02 AMHSBC (HBC):Q3 pretax profit +125% to $5B vs estimates of $5.6B. Underlying revenue +20% to $16.13B. Takes provision of $800M to cover a potential U.S. fine for problems with its anti-money laundering controls - adding to $700M set aside in July - and $353M charge for mis-selling in the U.K., mainly of payment protection insurance. (PR)
Comment![Earnings, Financials]
Monday, July 30, 2012, 4:46 AMHSBC (HBC): H1 pretax profit of $12.7B, up 11% on the year and above consensus of $12.5B. Underlying profit was down 3% on the year to $10.6B. Sets aside $2B to cover regulatory and compliance problems in the U.S. and UK. Core Tier 1 ratio of 11.3%, up from 10.1% in December. Shares -1.5% premarket. (PR .pdf)
Comment![Financials, Earnings]
Tuesday, May 8, 2012, 5:03 AM
More on HSBC (HBC) Q1: Total operating revenue flat at $20.44B. Net profit attributable to shareholders $2.58B vs. $4.15B, due to the charge on debt. ROE 6.4%, cost-to-income ratio 63.9%. "Our performance in April has been satisfactory, and we remain confident that we will deliver on executing our strategy," says CEO Stuart Gulliver.
Comment![Financials, Earnings]
Tuesday, May 8, 2012, 4:44 AMHSBC (HBC): Q1 Underlying pretax profit +25% to $6.8B vs. consensus of $5.8B, boosted by a recovery in income from investment banking and a drop in U.S. bad loans. Statutory pretax profit $4.3B but hurt by a negative impact of $2.6B due to a change in the value of HSBC's debt. Shares +0.8% in London. (PR)
Comment![Financials, Earnings, Top Stories]
Monday, February 27, 2012, 3:47 AM
HSBC (HBC) annual profits reach £13.8B, up 15% in a year of "major progress." Its commercial banking unit had a record year with pretax profit +31% to nearly £5B. The faster-growing markets of Asia, Latin America, the Middle East and North Africa now account for 49% of group revenue. 2011 dividend of $0.41, up 14%. (PR)
1 Comment[Breaking News, Financials, Earnings]
Wednesday, November 9, 2011, 4:52 AMMore on HSBC (HBC) Q3: "Trading conditions...remain very difficult and continuing turbulence in global markets may result in further downside risk," the bank says. "The outlook for the global economy is very challenging as problems in developed markets begin to affect growth rates around the world." Shares -2.6% premarket.
Comment![Earnings, Financials]
Wednesday, November 9, 2011, 4:48 AMHSBC (HBC): Q3 net profit +66% to $5.22B vs. forecasts of $3.84B, boosted by a $4.1B accounting gain related to the value of its debt. Underlying pretax profit $2.96B vs. $4.6B. Net trading income plummets to $106M from $1.39B. Tier 1 capital ratio 10.6%. (PR)
1 Comment[Earnings, Financials]
Monday, August 1, 2011, 4:30 AMHSBC (HBC): H1 pretax profit +3% Y/Y to $11.5B; net profit +35% to $8.93B; EPS of $0.51. Impairments -30% to $5.3B. Targeting $2.5B-3.5B of cost savings. Core Tier 1 capital ratio of 10.8%, up from 10.5%. Shares +3.4% in London. (PR)
Comment![Earnings, Financials, Breaking News, Top Stories, On the Move]
Monday, May 9, 2011, 6:18 AM
More on HSBC's (HBC) earnings: The bank is setting aside a $440M provision to compensate customers for mis-sold payment-protection insurance, following similar moves by Barclays (BCS) and Lloyds (LYG).
Comment![Earnings, Financials]
Monday, May 9, 2011, 6:09 AMHSBC (HBC): Q1 net profit +58% to $4.15B on lower taxes and a drop in bad-loan charges. But adjusted pre-tax profit slipped to $5.5B from $6.01B the year before (and short of the $6B consensus) and cost-income ratio rose above the bank's target to 60.9%. Shares -1.4%. (HSBC management statement)
Comment![Earnings, Financials]
Monday, February 28, 2011, 5:49 AMHSBC (HBC): 2010 net profit of $13.2B vs. $14B consensus, $5.8B last year. Lowers its long-term return on equity target to 12-15% from 15-19% because of the higher cost of tougher bank regulations. Loan impairment charges -47% to $14B. Core Tier 1 ratio rose to 10.5% from 9.4%. Shares -3.8%. (PR)
Comment![Earnings]