Stock Spotlight: HSBC remains on track for continued growth

Business split avoided

Cristian Angeloni
clock • 4 min read

HSBC’s performance over the first three months of 2023 has given investment analysts confidence the global bank remains well positioned to continue growing, amid a testing period for the banking sector.

The bank posted profits before tax of $12.9bn for the quarter, up from $8.7bn in the same period last year, while profits after tax rose to $11bn from $7.6bn. Similarly, revenue increased by 64% to $20.2bn and net interest margin stood at 1.7% - a 50 basis points rise. Stock Spotlight: Record profits help LVMH bag $500bn market value HSBC CEO Noel Quinn said the "strong performance" over Q1 2023 provided further evidence the bank's strategy "is working", with profits spread across all its main geographies and the three global businesses performing well. He added: "As a result, w...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Aviva Investors suffers £1.7bn outflows but AUM registers slight uptick

Aviva Investors suffers £1.7bn outflows but AUM registers slight uptick

Assets under management up 2% to £238bn

Cristian Angeloni
clock 14 November 2024 • 1 min read
Chrysalis holding Klarna files for New York IPO

Chrysalis holding Klarna files for New York IPO

14.3% of Chrysalis portfolio

Linus Uhlig
clock 13 November 2024 • 2 min read
Tatton AM launches range of passive funds as AUM surpasses £20bn

Tatton AM launches range of passive funds as AUM surpasses £20bn

Net flows double from last year

Cristian Angeloni
clock 13 November 2024 • 1 min read
Trustpilot