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HSBC Holdings plc Q1 profit before tax rose 30.7 percent

Christian Fernsby ▼ | May 3, 2019
HSBC Holdings reported Friday that its first-quarter profit before tax rose 30.7 percent to $6.21 billion from last year's $4.76 billion.
HSBC Holdings plc
HSBC Holdings   The company noted that the increase reflected higher revenue in RBWM
The company noted that the increase reflected higher revenue in RBWM due to balance sheet growth and wider margins in Retail Banking, and in CMB due to growth in Global Liquidity and Cash Management and Credit and Lending.

Adjusted profit before tax was $6.35 billion, compared to $5.8 billion last year.

In the quarter, reported revenue of $14.43 billion was 5% higher than $13.71 billion a year ago, driven by adverse foreign currency translation differences of $0.7 billion, partly offset by a net favourable movement in significant items of $0.2 billion. Excluding foreign currency translation differences and significant items, revenue increased by $1.2 billion or 9% to $14.41 billion.

Further, the board announced first interim dividend for 2019 of $0.10 per ordinary share.


 

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