{"id":7614,"date":"2026-10-27T07:11:01","date_gmt":"2026-10-27T07:11:01","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=7614"},"modified":"2026-10-27T07:11:01","modified_gmt":"2026-10-27T07:11:01","slug":"hsbc-profits-surge-lends-weight-to-healeys-tax-plan-daily-business","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=7614","title":{"rendered":"HSBC profits surge lends weight to Healey’s tax plan \u2013 Daily Business"},"content":{"rendered":"

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\"HSBC\"\"HSBC\"
HSBC is withstanding external pressures<\/em><\/figcaption><\/figure>\n

HSBC lent support to the Chancellor\u2019s plan to hike taxes on banks after announcing a 32% surge in third-quarter profit.<\/p>\n

Ahead of Wednesday\u2019s Budget, the Asia-focused bank said it was benefiting from favourable interest rates \u200bwhile avoiding hefty credit losses. However, there was slower growth at its wealth \u200cbusiness.<\/p>\n

Pretax profit for Europe\u2019s \u200blargest bank came in at $9.6 billion for the July-September quarter, in line \u200bwith estimates compiled by HSBC. It also repeated the previous quarter announcement of a share buyback of \u2060up to $1 billion.<\/p>\n

It said expected credit losses tumbled 17% to $800 million as a result of lower charges linked to Hong Kong\u2019s real estate sector as well as its UK and \u200bMexican wealth businesses. But revenue for its wealth division was flat at $2.7 billion. That \u200bcompares with 15% and 23% year-on-year revenue growth in the first two quarters.<\/p>\n

The figures could not prevent shares in the bank falling 5% on the Hang Seng index in Hong Kong.<\/p>\n

The bank indicated that it was able to withstand pressures such as the war in Iran and rising inflation and said it is \u200con \u2060track to meet its core profitability targets through to 2028.<\/p>\n

HSBC announced an interim dividend of $0.1 per share, the same as the previous quarter.<\/p>\n

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