HSBC profits surge by a third as cost-cutting exceeds its target
Summary
HSBC's profits surged by a third as cost-cutting exceeded its target, the Evening Standard and The Independent reported on Tuesday 27 October, the banking giant saying it had made bigger savings than it originally set out to do. The Financial Times reported that HSBC's quarterly profits surged 32% on higher rates, operating expenses dropping as Europe's biggest bank plans a share buyback of up to $1bn, and The Guardian headlined that HSBC is to hand billions to shareholders as profits surge 32%.
Latest: HSBC's profits surged by a third as cost-cutting exceeded its target, the Evening Standard and The Independent reported, the Financial Times putting the rise in quarterly profits at 32% on higher rates as Europe's biggest bank plans a share buyback of up to $1bn, and The Guardian headlining that HSBC is to hand billions to shareholders.
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How it unfolded
Tuesday 27 October
HSBC's profits surged by a third as cost-cutting exceeded its target, the Evening Standard and The Independent reported, the Financial Times putting the rise in quarterly profits at 32% on higher rates as Europe's biggest bank plans a share buyback of up to $1bn, and The Guardian headlining that HSBC is to hand billions to shareholders.
- 03:57The Independent HSBC profits surge by a third as cost-cutting exceeds target
- 03:57Evening Standard HSBC profits surge by a third as cost-cutting exceeds target
- 03:10The Guardian HSBC to hand billions to shareholders as profits surge 32% – business live
- 00:18Financial Times SubscribersHSBC quarterly profits surge 32% on higher rates