HSBC Reports Flat Quarterly Profit Amid Middle East Provisions
HSBC announced flat or slightly decreased quarterly profits, missing analyst expectations, as growth in its wealth management and Hong Kong businesses was offset by significant provisions and charges related to its operations in the UK and Middle East.
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HSBC Profit Misses on Charges Related to the UK, Middle East - Bloomberg.com
HSBC Profit Misses on Charges Related to the UK, Middle East Bloomberg.com
Read full article →HSBC profit flat as Middle East provisions offset wealth growth
HSBC, Hong Kong’s largest lender, reported broadly flat first-quarter profit as lower interest rates and provisions linked to the Middle East conflict offset solid growth in its wealth management business. Net profit for the first three months of 2026 rose 0.14 per cent year on year to US$6.94 billion, or 41 US cents per share, the London-based bank said in a Hong Kong stock exchange filing on Tuesday. The result missed the US$7.07 billion consensus estimate of 17 analysts polled by the...
By Enoch Yiu
Read full article →HSBC profits fall slightly despite strong wealth and Hong Kong business growth
The bank said the decrease reflected higher expected credit losses and other credit impairment charges.
By Jessica Coates
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