HSBC also said it will initiate a further share buy-back of up to $3 billion, which is expected to 'commence shortly.'
HSBC's profit after tax came in at $6.26 billion in the three months ended September, jumping 235% compared to the $2.66 billion in the same period last year.
HSBC's profit after tax came in at $6.26 billion in the three months ended September, jumping 235% compared to the $2.66 billion in the same period last year. HSBC said the increase was in part due to a $2.3 billion impairment in the third quarter of 2022 relating to the planned sale of its retail banking operations in France.
"We now expect to reclassify these operations to held for sale in 4Q23, at which point the impairment would be reinstated," it said.For the nine months ended September, profit after tax stood at $24.33 billion, compared to $11.59 billion in the first nine months of 2022.In light of the results, the bank's board approved a third interim dividend of 10 cents per share.
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