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HSBC announces share buyback of up to $2 billion as annual profit jumps 6.5%

HSBC posted a pre-tax profit of $32.3 billion for 2024, marking a 6.5 percent rise and exceeding estimates.
The bank announced a $2 billion share buyback and a special dividend of 21 US cents from selling its Canadian business.
Chief Executive Georges Elhedery emphasized a commitment to reducing costs and achieving sustainable growth, stating, "Our strong 2024 performance provides firm financial foundations...".
HSBC plans to incur $1.8 billion in restructuring charges over two years, aiming for a $1.5 billion reduction in costs by the end of 2026.

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The Standard

HSBC's profit rises 6pc to US$32.3b

Agencies and staff reporter HSBC (0005) posted a 6.5 percent rise in pre-tax profit to US$32.3 billion (HK$251.9 billion) last year, marginally beating estimates, as income withstood the impact of falling interest rates and plans to save US$1.8 billion in costs by the end of next year. The lender...

2 days ago

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The Independent

HSBC announce major cost-cutting drive as pre-tax profits top £25bn

The UK’s largest bank announced a pre-tax profit of $32.3bn (£25.2bn)

2 days ago·London, United Kingdom

HSBC announces reduction in costs amid rise in profits

LONDON: HSBC is targeting savings of US$1.5 billion by the end of 2026, the firm announced. © New Straits Times Press (M) Bhd

HSBC unveils share buyback, cost cut targets as new CEO looks to boost returns

HONG KONG : HSBC posted annual profit on Wednesday that beat estimates, helped by increased revenue in wealth and markets businesses, and set stiff cost-cut targets as its new CEO implements a revamp of the Asia-focused bank to boost returns.The Asia-focused lender also announced a new $2 billion share bu

HSBC announces share buyback of up to $2 billion as annual profit jumps 6.5% - Business Fast

A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024. Henry Romero | Reuters Europe’s largest lender HSBC on Wednesday announced a share buyback of up to $2 billion as its annual pre-tax profit rose 6.5%, helped by the sale of its banking business […]

3 days ago·United States

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