South China Morning Post
International Β· 2 hrs ago
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HSBC profit flat as Middle East provisions offset wealth growth
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HSBC reported nearly flat first-quarter profit of US$6.94 billion, slightly below analyst expectations, as lower interest rates and Middle East conflict provisions offset growth in wealth management.
HSBC profit flat as Middle East provisions offset wealth growth
HSBC, Hong Kongβs largest lender, reported broadly flat first-quarter profit as lower interest rates and provisions linked to the Middle East conflict offset solid growth in its wealth management business.
Net profit for the first three months of 2026 rose 0.14 per cent year on year to US$6.94 billion, or 41 US cents per share, the London-based bank said in a Hong Kong stock exchange filing on Tuesday. The result missed the US$7.07 billion consensus estimate of 17 analysts polled by the...
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