HSBC Third-Quarter Profit Rises 32% With New $1 Billion Buyback

HSBC’s third-quarter pretax profit rose 32% year on year to $9.63 billion, narrowly missing analyst forecasts, while revenue increased 5% to $18.62 billion. Higher banking net interest income and lower credit impairment charges supported results, while profit growth also reflected the absence of $1.4 billion in legal provisions booked a year earlier. Return on tangible equity improved to 17.7%, and operating expenses fell amid cost-cutting efforts. HSBC announced a further share buyback of up to $1 billion and a third interim dividend of 10 cents per share, and maintained its profitability and 2026 net interest income targets. The bank expects to complete the buyback before its next annual results.