Overview

• HSBC posted a 25% year-on-year decline in pre-tax profit to $9.5 billion, surpassing analyst estimates of $7.83 billion.
• Revenue fell 15% to $17.65 billion, primarily reflecting the absence of one-off gains from 2024 business disposals in Canada and Argentina.
• The bank announced a $3 billion share buyback program, set to begin after its annual general meeting and conclude before its 2025 interim results.
• HSBC increased its credit-loss provisions to $876 million, including $150 million for worsening economic conditions tied to U.S. trade tariffs, and warned of a potential additional $500 million under downside scenarios.
• Despite macroeconomic uncertainty, HSBC reaffirmed its commitment to achieving mid-teens return on tangible equity from 2025 to 2027 and highlighted progress in its ongoing restructuring efforts.