Today news
About the same in other media
HSBC profits rise 74% as economy rebounds from Covid crisis
Reading now: 270
HSBC’s profits rose 74% in the third quarter as improving economic conditions allowed the bank to release hundreds of millions of pounds originally set aside for a potential jump in loan defaults during the pandemic.
The London-headquartered bank said pretax profits rose to $5.4bn (£3.9bn) in the three months to 30 September,up from $3.1bn a year earlier. It easily beat City forecasts for profits of $3.8bn for the quarter.
HSBC credited continued economic stability for helping increase its profits, as improving conditions allowed customers to repay their debts on time. It meant HSBC could release about $700m from the pile of cash it built up during the pandemic to help cushion the blow of a potential surge in defaults.
It nearly offset the
Read more on theguardian.comAbout this in other media
Square's Cash App Bitcoin profits fall 23% — Will opening it to teenagers help? cointelegraph.com /3 years ago
Societe Generale CFO departs as Q3 profits top forecasts fnlondon.com /3 years ago
Ether miners enjoyed more profits this year than Bitcoin miners; Here’s why ambcrypto.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
