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HSBC's third-quarter profit jumps 32%, launches buyback of up to $1 billion - Finance news and analysis from Global Banking & Finance Review
Finance

HSBC's third-quarter profit jumps 32%, launches buyback of up to $1 billion

Published by Global Banking & Finance Review

Posted on October 27, 2026

2 min read

· Last updated: October 27, 2026

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HSBC Reports 32% Profit Surge in Q3 and Launches $1 Billion Share Buyback

HSBC Q3 2023 Financial Results and Shareholder Returns

By Selena Li and Lawrence White

Strong Profit Growth Driven by Rate Hikes

HONG KONG/LONDON, Oct 27 (Reuters) - HSBC reported a 32% surge in third-quarter profit on Tuesday as rate hikes supported net interest income and due to the absence of legal provisions booked in the same period a year earlier.

Share Buyback Announcement

Europe's largest bank also unveiled a share buyback of up to $1 billion, the same amount as the previous quarter.

Pretax Profit Performance

Pretax profit came in at $9.6 billion for the July-September quarter, in line with estimates compiled by HSBC.

Credit Losses and Dividend Update

Reduction in Expected Credit Losses

The bank also said expected credit losses tumbled 17% to $800 million rom the same period a year ago, thanks to a reduction in charges linked to Hong Kong's real estate sector as well as its UK and Mexican wealth businesses.

Interim Dividend Maintained

HSBC announced an interim dividend of $0.1 per share, the same as the previous quarter.

Reporting and Editing

(Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Edwina Gibbs)

Key Takeaways

  • Pretax profit jumped 32% YoY to $9.6 billion, driven by rate‑boosted net interest income and no legal provisions this year (hsbc.com).
  • Expected credit losses fell 17% to $800 million as exposures in Hong Kong real estate and UK/Mexican wealth businesses declined citeturn0news0.
  • HSBC launched a fresh $1 billion buyback—matching the previous quarter—and kept its interim dividend at $0.10 per share (hsbc.com).

References

Frequently Asked Questions

How much did HSBC's third-quarter profit increase?
HSBC's third-quarter profit rose by 32% compared to the same period last year.
What was HSBC's pretax profit for the July-September quarter?
HSBC reported a pretax profit of $9.6 billion for the July-September quarter.
Did HSBC announce a share buyback?
Yes, HSBC announced a share buyback of up to $1 billion, matching the previous quarter.
What happened to HSBC's expected credit losses in Q3?
HSBC's expected credit losses fell 17% to $800 million due to reduced charges.
Did HSBC pay a dividend for the third quarter?
Yes, HSBC announced an interim dividend of $0.1 per share for the third quarter.

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