HSBC stable in Q1 2024 as chief executive steps down [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
hsbc.com/investor-relations
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Source: Yahoo! Finance
This includes a $4.8bn bonus considering the disposal of HSBC's business in Canada, inclusive of fair value gains on the hedging of the sale proceeds, partly offset by a $1.1bn impairment recognised in Q1 2024 following the classification of the HSBC business in Argentina as held for sale. The Argentina deal is worth $550m, subject to certain price adjustments. It is expected to be completed within the next 12 months. However, profit after tax totalled $10,837m in Q1 2024 for HSBC, a drop from the $11,026m in Q1 2023. In addition, revenue increased by $0.6bn (3%) year-on-year to reach $20.8bn and this reflected higher customer activity in wealth and personal banking. Wealth and personal banking recorded a profit before tax of $3,181m in Q1 2024 for HSBC, a whopping 40% drop year-on-year from $5,324m. Global private banking revenue was $0.1bn or 16% higher due to strong performance in brokerage and trading in Asia. However, personal banking revenue was $4.9bn, down 2% or $
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HSBC
Sec Filings
- 5/17/24 - Form 6-K
- 5/16/24 - Form 6-K
- 5/15/24 - Form 6-K
- HSBC's page on the SEC website