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HSBC profits surge by a third as cost-cutting exceeds target
🇬🇧 United Kingdom · Economy · 5 h ago
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27.10 04:27 UTC
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Chief Financial Officer Pam Kaur stated that the bank is prioritizing the development of staff AI skills to ensure employees remain "future ready" .
Despite the positive earnings, the bank is reportedly evaluating potential job cuts within its U.K. wealth management division .
HONG KONG/LONDON, Oct 27 : HSBC reported a 32 per cent 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.
HSBC announced an interim dividend of $0.1 per share, the same as the previous quarter.
The banking giant said it had made bigger savings than it originally set out to do.
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