HSBC Profit Falls, Announces Buyback and Dividend

HSBC reported a first-quarter 2025 pre-tax profit of $9.5 billion, down from $12.7 billion the previous year, primarily due to the absence of one-off gains related to business disposals in Canada and Argentina. Net profit fell 32% to $6.93 billion, and revenue declined 15% to $17.6 billion, with net interest income dropping 4% to $8.3 billion, as challenging macroeconomic conditions and previous divestments weighed on results. Despite these declines, HSBC's results exceeded analyst expectations. The bank announced a $0.10 per share interim dividend and a $3 billion share buyback program to commence after the May annual general meeting. HSBC warned of ongoing economic uncertainty from global tariff risks and protectionist trade policies, which could further impact revenue. The bank remains focused on cost-saving restructuring and aims for a mid-teens return on tangible equity by 2027.