US EditionHSBC announces share buyback of up to $3 billion as first-quarter results top expectations
- HSBC, Europe’s largest bank, announced a $3 billion share buyback following first-quarter 2025 pre-tax profit of $9.5 billion in London and Hong Kong.
- The profit decline from $12.7 billion in 2024 mainly stemmed from one-time charges and concerns over loan demand due to heightened economic uncertainty and US-China trade tensions.
- The bank reported $900 million in expected credit losses, including $150 million linked to economic uncertainty, while Asia and wealth management showed growth with $22 billion new invested assets.
- CEO Georges Elhedery said the results demonstrate earnings momentum and discipline, but the bank anticipates a low single-digit revenue impact and about $0.5 billion in additional credit losses.
- HSBC plans to cut annual costs by $1.5 billion by 2026 amid ongoing restructuring, maintain mid-teens return targets, and expects muted loan demand amid global economic and market volatility.
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Readers, today we are moving to Hong Kong’s vibrant financial world, where HSBC has announced that its stake in the Communications Bank (BOCOM) will be reduced from 19.03% to about 16%. This move is due to the Chinese bank’s capital collection through private stock placement. According to the original report, this operation will result in a loss of up to $1.6 billion for HSBC. China’s economic boost In early March, four of China’s largest banks,…
HSBC plans multibillion share buyback as profits drop in first quarter
HSBC has announced a multibillion-dollar share buyback plan despite a decline in profits and revenue. The bank stated that economic uncertainties are weighing on business growth, expecting a low single-digit percentage direct impact on group revenue.View on euronews
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