HSBC’s Elhedery dismisses spin-off talk as 3rd-quarter results beat forecast, stock soars

Quick Summary:

Net profit rose 9 per cent to US$6.13 billion in the quarter that ended on September 30, exceeding market forecasts.

It will also pay an interim dividend of 10 cents a share.“There was strong revenue growth and good performances in wealth and wholesale transaction banking,” Elhedery said.“Our strong organic capital generation enables us to announce a further US$4.8 billion of distributions [of dividends and buy-backs] in the third quarter, which brings the total distribution announced so far in 2024 to US$18.4 billion.

Net profit rose 9 per cent to US$6.

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Article Details

Author / Journalist: Mia Castagnone

Category: Business

Markets: Hong Kong

Topics: Quarter Wealth Billion Bank’s Profit Growth Rose Us$6 Banking Cent Elhedery

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 12:35:03 (3 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 238 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23361080

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