Overview
- HSBC said third‑quarter pretax profit climbed roughly 32% to about $9.6 billion on revenue of $18.6 billion.
- Net interest income rose about 6% to $9.3 billion and operating expenses fell roughly 12%, driving most of the profit improvement.
- The bank completed an approximately $1 billion share repurchase earlier in the quarter, cancelling about 48.7 million shares as a way to return capital to shareholders.
- Detailed figures showed pretax profit of $9.63 billion versus a bank‑compiled consensus of $9.69 billion, keeping results broadly in line with analyst expectations.
- Media reports say HSBC is considering significant job cuts in its U.K. wealth unit linked to planned use of artificial intelligence, but those reports rely on unnamed sources and have not been confirmed by the bank.