28.3 C
New York
June 6, 2025
Asia Pacific Banking Business China Chinese economy Corporate governance Economics HSBC Interest rates news UK news World news

High interest rates help double HSBC profits

High interest rates help double HSBC profits

Bank to buyback $3bn in shares after quarterly profits double despite financial hit from China’s property crisis

HSBC will hand more than $3bn (£2.5bn) to shareholders, after higher interest rates helped to more than double quarterly profits, despite taking a financial hit on China’s property crisis.

The London-headquartered bank said it was launching the share buyback, and pay a dividend worth 10 cents a share, after what its chief executive, Noel Quinn, hailed as “three consecutive quarters of strong financial performance”.

Continue reading…

Related posts

UN urged to move Cop27 from Egypt over ‘LGBTQ+ torture’

TheWorldsNews

Jimmy Lai pleads not guilty to all charges at Hong Kong national security trial

TheWorldsNews

Venezuela rejects UN ruling to refrain from holding election in disputed region

TheWorldsNews

Pin It on Pinterest

Share This