HSBC Quarterly Profit Surge Sparks Fresh Calls for Bank Tax Hike in Budget
The bank said higher net interest income and deposit growth lifted results as investors weighed a revenue miss and pressure for higher UK bank taxes.
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Evening Standard
HSBC quarterly profit surge sparks fresh calls for bank tax hike in Budget
Pam Kaur, the banking group’s chief financial officer, said there was ‘no pressure’ on the bank despite facing the prospect of higher costs.
The profits attributable to shareholders for the quarter ended in September stood at $7 billion, compared to $4.87 billion last year, HSBC reported in a statement to the Hong Kong Stock Exchange. Pre-tax profits grew by 32% to $9.6 billion, while revenues increased by $800 million to $18.6 billion. "As we simplify HSBC, we are creating a greater capacity to invest, grow and generate solid returns for our shareholders," said CEO Georges Elhedery …
HSBC profits surge 32%, sparking fresh calls for bank taxes in the budget – business live
Rolling coverage of the latest economic and financial news * UK shop price inflation ‘highest since 2024’ as retailers struggle to limit price rises The 6% drop in HSBC’s share price this morning has made rather a dent in the FTSE 100 share index. The ‘Footsie’ is down 108 points, or 1%, at 10,659 points.…
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