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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 695.00
Bid: 694.90
Ask: 695.10
Change: -1.50 (-0.22%)
Spread: 0.20 (0.029%)
Open: 694.00
High: 703.20
Low: 688.40
Prev. Close: 696.50
HSBA Live PriceLast checked at -

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HSBC underlying Q3 profits fall 12% - UPDATE

Mon, 03rd Nov 2014 08:22

HSBC reported a 2% rise in third quarter pre-tax profit to $4.6bn but said underlying pre-tax profit was down $595m or 12% to $4.4bn against the same period last year.Reported pre-tax profit in the nine months was down 9% at $16.9bn compared with $18,6bn in the same period last year. Underlying pre-tax profit fell 6% in the period to $17bn compared with $18bn last time, primarily due to the effect of what the group described as "net movements in significant items".The group said its commercial banking business continued to expand, particularly in its home markets of Hong Kong and the UK.A strong performance in global banking and markets was driven by markets as foreign exchange and equities both benefited from higher client activity.But the group said its third quarter operating costs rose 15% to $11.1bn against the same period last year due partly to inflation and increases in risk, compliance and related expenses.On a constant currency basis, HSBC increased loans and advances to customers in the third quarter, notably in commercial banking and in its home markets of the UK and Hong Kong.Earnings per ordinary share and dividends per ordinary share in respect of the nine months were $0.67 and $0.30 respectively, compared with $0.71 and $0.30 a year ago. The third interim dividend was $0.10 per ordinary share.At 08:39, shares in HSBC were down 6.5p at 633p in London.
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First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

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