April 30, 2024 05:41 GMT
HSBC 1Q24: Minor Beat On Loan Losses, Increased Buyback
FINANCIALS
HSBC 1Q24 headlines (HSBC: A3/A-/A+) looks like small revenue beat, loan losses better but an upgraded buyback. Guidance unchanged and group CEO to retire after nearly 5yrs (not major surprise).
*HSBC 1Q CET1 RATIO 15.2%, EST. 15.4%
*HSBC SEES CET1 CAPITAL RATIO WITHIN RANGE OF 14% TO 14.5%
*HSBC ANNOUNCES UP TO $3B BUYBACK
*HSBC 1Q ECL NET CHARGE $720M (ests: 838m)
*HSBC 1Q PRETAX PROFIT $12.65B, EST. $12.61B
*HSBC 1Q Net Profit Beat $9.73B Expected in Poll of Analysts by Visible Alpha
*HSBC 1Q REV. $20.75B, EST. $21.03B
*HSBC: GUIDANCE REMAINS UNCHANGED FROM FY RESULTS
*HSBC: GROUP CEO NOEL QUINN INTENTION TO RETIRE
More to follow…
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